4 Things You Must Know About Property Management

02 Dec 2019 - James

Being a property manager is demanding. Owners, tenants, contractors and coworkers - someone is always trying to get a hold of you. You also need many different skills to balance your every day tasks and responsibilities.

But being a property manager can also be very rewarding, helping people to enjoy their homes. Try following our tips to reduce your property management stress.

Respond to landlord and tenant requests promptly

“The right property manager needs to be in regular contact during the management of your property,” says Bernie McElwaine, winner of Property Manager of the Year in 2015.

“It’s necessary for your property manager to keep you updated about anything that occurs with your rental property, such as rental payments, maintenance issues or if the tenant has given notice to vacate.”

No matter what the issue is, whether it is a slightly leaking tap or the hot water boiler has completely stopped working, never leave your clients in the dark. Communication is essential and keeping all parties closely in the loop is key.

In today’s day and age, tenants expect continuous updates alongside timescales. The landlords need to know exactly what is going on at their property in as much detail as possible, as ultimately it will be landlord who pays the bill.

It is essential to have an effective platform for doing this and keeping on top of all requests coming in from the different properties that you manage. Tenancy Stream keeps all communication and requests in one place whilst continuously providing updates to both the tenant and landlord throughout each point of the tenancy.

Tenancy Stream ensures the highest level of customer service is provided.

Choose the right tech to communication and handle requests

When speaking to property managers within the industry it amazes us at Tenancy Stream that there is no set method of communication for managing properties. Communication is spread over many avenues such as email, text, telephone calls and even WhatsApp.

This mishmash of communication across platforms causes many issues, requests get missed and therefore not actioned resulting in parties not getting notified and updated whilst issues are being dealt with.

This is especially true if you manage multiple properties for a number of clients, which most property managers do. There’s no effective way to keep track of everything that is going on without the help of technology. At Tenancy Stream we believe that all communication whilst managing a property should be kept in one place, a clear and easy to see log of everything that is happening, leaving a clear record of everything that has happened throughout the tenancy.

Tenants who are satisfied with property management are three times more likely to renew their leases!

Be aware of your legislation and laws that need to be complied with

Within the ever-changing property management landscape the rules, regulations and codes of conduct that Estate Agents have to comply with is for ever increasing. To ensure these are all met the property manager must keep clear records of each property. Failing to do so could lead to devastating consequences.

It is essential to have an effective platform that keeps each property compliant with legislation. Tenancy Stream ensures that all legislation is met with each property and that the property is looked after and maintained to the highest standard.

Communicating proactively with tenants is one of the top ways property managers can increase tenant satisfaction.

Keep all communication in one place

It amazes us at Tenancy Stream how communication is spread over so many devices, this leads to numerous problems from information getting missed and tenants not getting informed and kept in the loop regarding maintenance issues.

Tenancy Stream is a simple to use dashboard for tenants, landlords and estate agents to report and log issues removing the need for communication be spread over so many different devices.

Tenancy Stream

Tenancy Stream has one aim, to make property management more efficient and make the whole process better for everyone involved. Tenancy Stream is a new platform for Estate Agents and Landlords to manage their properties. The platform currently in the hands of UK based Estate Agents uses a very simple communication dashboard allows the agent to keep all parties in the loop at all times whilst automating management tasks.

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