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Knowing the Ideal Tenant

In any business, it is critical to know the target market, and it is no different for property management when trying to find tenants. It is vital to understand whom you want as a tenant, and the different things such tenants would want in a property. Understanding the preferences and priorities of renters will help you make the right decisions in marketing and while allocating budget.

Knowing about the ideal tenants for specific properties, property management will be in a better position to find new tenants and maintain a consistent occupancy rate. When tenants are matched perfectly to the property, business can grow significantly.

Forming and Maintaining Fantastic Relationships with Tenants

Outstanding communication is the key to build and maintain any relationship, and it is true for tenants-property management relationships as well. For building trust, it is essential to maintain regular communication. In the age of social media, this task becomes even easier, since there is a platform where both parties can interact at their convenience. However, maintaining contact personally is also prudent.   

Tenants appreciate quick response to their repairs and maintenance requests; they like to receive information about safety and severe weather forecasts, and updates on new rental policies and laws. All this type of communication will make tenants feel you care about their safety and convenience, and they will not want to shift.

Mostly everybody is active on social media, and that makes it even more important for property management to build better relationships with tenants. Tenants like to post things about their community on their social media pages, and even provide reviews about how their community is being managed. Property management should also consider keeping a track of what tenants are posting on their pages about the community.

This information can reveal tenant's preferences and what they would like different on the property. It is possible to know what existing tenants feel about the pet policy or about going green. Property management can consider this data while renovating or making policy changes.

Decisions that Make Sense for the Long Run

When property management is able to know accurately what tenants actually want, it is much easier to plan a budget and allocate expenses accordingly. Time, effort, and money are generally wasted when you provide things that tenants may not actually need. When you can make smart decisions with the right information, you can attain a better ROI and use available finances in investing wisely.

Building Trust

Better relationships with tenants will also help in resolving disputes much faster and the outcome will be better. In fact, when property management and tenants understand each other well, there will be very few instances where management will have to enforce rules or apply punitive measures. A polite notice or a warning will work in most cases, and there will be much less confrontations.

Hence, it is critical for property management to make better relationships with tenants their top priority. In many instances, where there is an excellent relationship, tenants are least likely to take off or not renew their lease from the property even when better features are available for the same amount of rent.

Increasing and Improving Use of Mobile Technology for Attracting New Tenants

The use of mobile technology has increased dramatically in the past couple of years, and this trend is predicted to continue even more in the coming years. Every type of business has taken advantage of this technology, and property management companies are using it for building better relationships with tenants and as a marketing tool for attracting new prospects.

In fact, the latest advancements in this technology make it possible to engage people all through the leasing process and even after, they have moved in.

For making optimum use of mobile technology, it is best to lay a solid foundation by building the required infrastructure that is compatible with diverse devices such as smart phones, tablets, laptops, and their operating systems.

Teaming Up with the Right People

To design such an infrastructure, property management will need the help of professional web hosting services, web designers, and service providers of web services. It is essential to have professional help from the beginning as deployment of latest technology is complex and the system will have to be upgraded continuously to accommodate frequent updates.

Increase and Enhance Engagement with Improved Connectivity

Initiate conversation with people on the move with messaging, by using platforms like Twitter and Instagram. Text the current offers on discounted rents or about a community event. Consider using online coupons, and mobile ads for inducing people to pay the property's office a visit. According to a recent survey, text is the preferred way of receiving messages compared to voice calls.

Secondly, 90% people who receive text messages read them within three minutes of their receipt. Lastly, only one percent of text messages are deleted without being read or ignored, which means your message has 99% chance of being read.  

Utilizing Technology

Video is a powerful medium to convey things and now almost all mobile devices can stream videos. Shoot a video of a tour of the whole property with special shots of the inside of units, highlighting the kitchen, bathrooms, and bedrooms. Post the videos on the property's website, blog, and social media pages. Marketing efforts can have a high success rate, when you post virtual property tours and vacancy snapshots on the website.

Hyperlapse is an astounding app of Instagram that will enable you to create informative and fun videos very easily. Property management can focus on building credibility or piquing the curiosity of renters, depending on the situation, and the way, the community is generally viewed in the market.

Impressive Content

Create shareable content that documents different events and happenings of the community or highlight new features, renovations, and additions. Shareable content is the best form of advertising, as viewership can increase dramatically within a very short time, if the content is concrete and terrific.  

Project the property as having the best and latest technological features. Create an online portal for rent payment, and this will not only attract new tenants but also reduce late payments considerably. Text reminders and notices can be automated, which will not only reduce the workload but also make the work more efficient.

Restrictive Breeds and Service Animals in Property Management

Increasing injuries and damages caused by dog bites is a growing concern for property management. In two states, judges have ruled that the property owner or management could be held liable for a dog attack or a bite by the dog of a tenant. Last year, the Supreme Court in Kentucky ruled that a property owner can be deemed to be the dog's statutory owner, and hence responsible for the injuries and damages cause by the dog's attack or bite.

In view of these rulings property management tend to take a hard stance in their pet policies, especially against restrictive breeds such as a pit bull. The image of a pit bull even when on a leash is quite disturbing for most tenants, especially those with kids or other pets. However, there seem to be other developments and court rulings that have given the status of service animal to the pit bull breed. Hence, property management will have to again reconsider their pet policies in order to comply with the Americans with Disabilities Act (ADA).

Pit Bulls are Protected

According to the ADA, it is wrong to discriminate against service animals; however, the DNA of the pit bull is considered dangerous, and that does not help the case, particularly in the multifamily industry. The question is can property management ban a service animal from the property if it is on the restricted breed list. Unfortunately for property owners and property management, the answer is no. The only think that can be done is to handle the liability as best as possible.

The ADA has specified that a service animal is an animal that has been specifically trained for performing tasks or doing work for disabled person. Tasks could include alerting deaf people, guiding blind individuals, protecting a person having a seizure by alerting others, calming people with PTSD, or even pulling a wheelchair. Interestingly, the ADA has amended the Act recently and has classified service animals to include only dogs, and exclude other animals that provide emotional support.

Not just Dogs

However, the Housing and Urban Development (HUD) department has included other animals in the service animals list, and a disabled individual could request for service animals other than dogs, which could include a parrot and even a miniature horse.

However, the main cause of concern is the Pit Bull Terriers who are included in breed-specific laws and are usually used in illegal dogfights. They are not allowed on most properties because they usually display aggression towards tenants and visitors. Property management can decline having a pit bull on the property only if it is a pet. However, if the dog is being kept as a service animal then there is not much property management can do, and only hope the dog is trained well enough and it does not resort to aggressive behavior.

An Understanding

Property management should state the city and council rules about animals and then form a policy about restricted breeds. However, including a breed that is used as a service animal on the list will not be of much use, since the judge is most likely to side with the disabled person. But even a disabled person will be responsible for any person that is attacked by their dog.

Flaws on the Property that can Drive Away Prospects

It is not possible for property management to meet every requirement of what a prospect might be looking for in a home or place to live. Location, aesthetics, and personal preferences, all play a role, but it may not be so for all renters. However, to keep the vacancy rate to the minimum, property management must make sure that the property is free of these major flaws.

Higher Rent

This is number one reason for prospects to select some other property, especially when features do not match up to the rent being charged. Even if there are other properties in the area charging the same rent, make sure your property has all the features the exist on the other properties.

It is also critical to factor in aesthetics and the age of the structure. It is possible to demand higher rents if the property is on a prime spot, but features should also be able to match up with other neighboring properties. It may not be possible to decrease rent; however, property management will have to provide some service or features that could justify the high cost.

Clutter and Dirt

Apart from high rent, this is another major reason for prospects to reject a property. The common areas might be kept very clean, but if there is clutter, the whole place will look shabby. Property management should have strict policies against clutter, and they should be enforced even if it means losing a few tenants who repeatedly disobey rules against clutter.

The same rules should be followed in the office as well, since the prospect will be coming to the office to discuss and settle the lease. There are certain things that particularly are quite disgusting for most renters. Topping the list is dog waste in the lawn or garden area, and accumulation of garbage bags that have not been cleared or picked up by the trash company. Peeling paint, poor lighting, and unmaintained landscape also create a pathetic and lowly impression.

Bad Odors and Noise

Apart from sight, the sense of smell and hearing are also very active in people. Most renters are particularly sensitive to loud noises and would not want to rent in a property where there is excessive partying, brawls, and unruly children playing around. Property management should have strict policies and enforce rules to keep these things in check. Bad odors can also diminish the value of the property in the eyes of a renter, even if the place is kept spotlessly clean. Strong pet odors and cigarette smoke are very disturbing and can ruin the chances of obtaining tremendous tenants.

Malfunctions

Malfunctioning appliances and equipment are other major reasons for renters to reject properties. Even when the unit has excellent tiles and furniture, malfunctioning appliances, or plumbing can ruin the deal. While inspecting the unit most prospects will turn on switches and faucets to see if things are working. Flickering lights, leaky faucets, malfunctioning heaters or coolers create a terrible impression and this will paint a terrible impressive to any would be renters. Word spreads pretty quickly in situations like this.

How to Use Instagram in Property Management

Many things are possible on an online platform that enables you to store and share videos and photos for free. Instagram is one of the latest apps that is being increasingly used on mobile devices, and property management could use it effectively for different purposes for the community.

Creating a Sense of Belonging to a Community

Interaction is critical to property management for improving and maintaining good relationships with existing residents and prospects. Prospects and residents share something in common about the community, and based on this common interest, property management can share content on Instagram that provides information or some value. For instance, host a photo contest based on some theme, or postphotos of the new store that has newly opened in the neighborhood.

Prospects and residents should have some common reason for following you and for you to follow them back. The use of hashtags is vital in Instagram, for following a line of topic or theme. When property management uses hashtags it enables tenants and prospects to use the same hashtag if they are posting something similar or following a particular topic. Secondly, the exposure is also fantastic since all videos and photos using the same hashtag are grouped on one page, which will be displayed when someone is searching for that particular hashtag.

Community Branding

Instagram enables property management to create a brand for the community. Creating photo ops for residents is one way of developing awareness of the community. Encourage residents to take photos and share them on Instagram by placing many Instagram photo frames at various locations within the community. Instagram has a huge membership, which means the exposure of the community will also be massive when some resident uploads a photo with the name of the community.

Secondly, it is easy to create a location page on Instagram, and it can be particularly useful to property management to improve exposure of the community. This location page will allow anybody to add videos and photos to the photomap in the particular location. It is not only the photos that gain exposure but also the community's name. 

Engage Residents

There are many ways to make residents actively engage on Instagram. For property management, tenants are the main assets, and it helps sharing with the world, how happy residents are in the community. Share videos and photos of happy hour and other community events. This not only shows the residents are a happy bunch, but also shows the community is a socially happening place.

Do not Forget the Pets

Almost 60% residents have pets, and it would be shame to ignore all the lovable cats and dogs on the property. Create hashtag like #catsofdowerscommunity and you will be surprised to see how much residents love posting the portraits of their feline companions.

Run Referral Campaigns

Acknowledge residents who have referred a friend to the community, by posting their photos. This will not only remind residents of the referral program, but they will also become aware that so many people in the community are happy and actually referring others. 

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