Renting out a property means communicating with several different audiences. You’ll need to communicate regularly with your tenants, vendors, various state and local agencies, and other agents and professionals. You’ll need to have a presence in your community.
This is important because the way you communicate has an impact on the amount of success you’re able to achieve. Landlords who do not communicate do not have an easy time finding and keeping good tenants. They cannot keep their maintenance costs down or network in the community when there’s a vacancy they’d like to fill. Landlords who cannot communicate the reasons for a rental price increase will likely lose tenants who are frustrated and unaware that the rental market supports such an increase.
Working with a professional property manager can help with your communication strategies. We also have some additional ideas on how to communicate well for better investment success.
Be Transparent with Big Island Property Management
Make sure you’re completely honest and transparent with your tenants. Give them plenty of notice when you have to enter the property to take care of maintenance or check something out. Tell them in advance when you’re raising rent at lease renewals times, and keep them in the loop when they’re waiting for something to be fixed. Communicating honestly, openly, and transparently is a non-negotiable.
Responsive Communication Requires Accessibility and Availability
Landlords must prepare to be interrupted late at night or over the weekend with repairs that are needed at their investment property. It’s frustrating to have your dinner interrupted because your tenants have locked themselves out of the house. However, you need to be accessible and available to your tenants and your property at all times. This means you’ll need to share your cell phone number, your email address, and any other contact information that you have with your tenants. If you’re going out of town and you know you’ll have a hard time answering your phone or responding to questions, make sure your tenants have the name and number of someone you trust.
Demonstrate that you’re willing to communicate in ways that work best for your tenant. Some tenants will want to call you on the phone and others will want to send a text. Some tenants might prefer in-person conversations.
Make Maintenance a Priority and Communicate Consistently
Communication is especially critical during maintenance emergencies. If the water heater bursts in the middle of the night or a storm blows a tree through a window, your tenants will need to get a hold of you right away. Even with routine maintenance, you want to respond with a sense of urgency. This will help you preserve the condition of your property, and your quick response times and open communication will show tenants that you care about them. That’s going to keep good tenants in place longer. The main things that will cause you to lose tenants are poor communication and a delayed response to maintenance and repairs.
Invest in and Utilize Technology
Technology is a great way to communicate better. Property management software helps you to document everything pertaining to your investment property and helps you communicate easily and efficiently. Most platforms include online portals, so your tenants can go online and pay rent, schedule future rent payments, submit maintenance requests, and send messages that are important but not urgent.
It’s difficult for individual landlords to maintain an entire property management software system, but you can still utilize technology to help you communicate with tenants. Offer your residents online rental payment options and be willing to chat with them over text or through social media.
These are just some of the ideas we have surrounding communication. If you’d like to hear more or you need some help with Big Island property management, please contact us at Hawaiian Dream Properties.