Proactive property management conversations
If your investment property is managed well, you shouldn’t only hear from your property manager when something goes wrong.
Instead, it should be a positive experience that considers everyone’s needs, with communication handled proactively and productively.
What do we mean? Well let’s look at just some of the proactive property management conversations that you should be having with the agency that manages your investment.
Your future plans
Sure, the property might be yielding a rental income at the moment, but what plans do you have for it in the future?
In other words, what purpose does this investment serve for you?
A great property manager will be seeking to understand your goals, and having proactive conversations with you about your plans – whether that’s holding the investment, improving it, or selling it at some stage in the future.
Improvements
On a similar note, the property manager should also be proactively discussing any improvements that they believe would help you yield a greater return on your investment.
This conversation includes general things like recommended routine maintenance and repairs, but also extends to more significant improvements, such as a kitchen upgrade, or a bathroom makeover.
The aim of these conversations is to help you maximise the potential of your investment property – both in terms of rental income and long-term capital gain.
Upcoming events
This should almost go without saying, but proactive property management involves flagging and addressing upcoming events long in advance.
For example, you should be hearing from your property manager well before the end date of the rental agreement, so you can make an educated decision about the future.
This conversation should include things like:
- The renter’s intentions
- Whether to offer a further agreement
- Current rental market conditions
- Whether to increase, lower or retain the weekly rental price
The resident’s future plans
You might own the property, but it’s not just you the property manager should be having proactive conversations with.
They should also be liaising with the renter about things like maintenance, repairs, how satisfied they are with the property and their intentions.
Proactive conversations with the person residing at the property help flag minor problems before they become major issues.
They also help ensure the renter feels valued as an important party in the rental process.
The benefits of proactive communication
Proactive communication goes a long way to ensuring the rental process is smooth and stress-free for all parties.
It helps nip issues in the bud, ensures everyone is on the same page, and allows everyone to feel valued and respected.
As a result, the property is more likely to retain great renters, be well-maintained and to meet the financial goals of its owner.
How we can help
Our experienced property managers pride themselves on establishing great relationships with both rental occupiers and owners.
We manage every property as if it were our own and you can learn more about our property management services here.
Alternatively, if you are looking to rent a property, you can view the properties we currently have available here.
