The success of a tenant finding and management service is often measured solely by financial profitability. However, there should be other considerations when contemplating whether a residential lettings company is offering a dependable service.
Pad Residential is a city-centre based company, who devote consummate attention to detail when supporting each of our clients with sales, lettings and management services. Though we acknowledge the importance often placed upon monetary profit, we recognise other essential factors that should be considered when prospective clients are deliberating the overall quality of a tenant finding and management service.
How a Tenant Finding and Management Service Influences Low Vacancy Rates
A management service is responsible for looking after your property and ensuring that high calibre of service is provided, regardless of circumstances. The vacancy rates for your residential block often denote the level of service being offered by your service provider.
For instance, low vacancy rates are often suggestive that the property is being well-maintained, with the existing clients’ core needs being fulfilled. Therefore, they opt to remain and prolong their tenancy, rather than seek alternative accommodation.
While scenarios occur whereby occupants do decide to leave a property, this needn’t have a detrimental impact on vacancy rates. For example, when a swift replacement is sourced for the outgoing tenant, this implies that interest has been generated as a result of proactive marketing by the tenant finding and management service.
Business Referrals: Products of a Quality Tenant Finding and Management Service
If a tenant finding and management service offer mediocre assistance, then they won’t be recommended by their previous clients.
Recommendations from happy clients is an indicator of a reputable company offering stellar services.
The Importance of Long-Term Tenants
As the saying goes: “If it isn’t broken, why try and fix it?” This adage applies to tenants when they’re renting a property; if residents don’t move and continually renew their tenancy agreement, this suggests that they have no qualms about how the development is being managed and that they’re happy with the help being provided by the management service.
It can be difficult to replace tenants; finding new occupants can be expensive and is often time-consuming. Any time whereby property is vacant is costing the landlord money. Therefore, it’s important to always satisfy existing clients, wherever possible. If tenants choose to remain for long periods and don’t have complaints, then this is a promising sign that they’re content with the management and feel valued as clients.
Maintaining Professional Relationships
Although property companies need to establish an amicable relationship with their clients, it’s equally as important to strike a balance and ascertain a professional stance.
For example, irrespective of which client a company is dealing with, reputable firms will never demonstrate signs of favouritism. It’s not professional, nor is it fair to sustain a degree of leniency for some tenants and not others – the same rules should always be applied across the board.
There should always be a series of relevant written policies, procedures, and community rules in place to ensure that there isn’t any potential for confusion when dealing with clients.
Tenant Finding and Management Service: Communication is Key
Regardless of whether a tenant is being sourced or is already occupying a property, the company offering a tenant finding and management service can avoid unwanted problems by communicating clearly.
Given the wide range of communicative tools available, including email, phone, social media platforms and direct mail, there’s no excuse for a breakdown in dialogue between two parties.
A reputable tenant finding and management service will always ensure that they continually devote time to communicating with their clients and address any needs that may arise.
Legal Leasing Agreements
While there are many instances whereby oral covenants are made, a residential lettings company should ensure that there are documents in place to reduce the likelihood of any potential legal ramifications.
Here at Pad Residential, we insist that there be an agreement in writing, outlining the legal responsibilities of each party.
Whether we’re sourcing new tenants or managing properties for clients, we emphasise the importance of resident safety within each of the properties that we rent, sell and maintain.
Our staff work diligently to ensure that safety levels aren’t affected, with smoke alarms, carbon monoxide detectors, lighting and staircases well-maintained.
We promote the viewpoint that the safety of the residents occupying a residential building is paramount and should never be compromised.
Formed in 1998, Pad Residential offers a range of lettings, sales and maintenance services for our clients, while our partners Scanlans Property Management list residential block management amongst their range of services.
Such is our reputation as a trustworthy property company offering an exemplary tenant finding and management service, we’ve developed our portfolio significantly, and our client base is continually blossoming.
Call Pad Residential on 0161 839 9654 to arrange a free consultation with a member of our experienced team. We’d be delighted to help you in your search for an accomplished tenant finding and management service, in the heart of Manchester city centre.