The Importance of Property Manager-Tenant Communications

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The Importance of Property Manager-Tenant Communications

One of the most important responsibilities for any property manager is to communicate with their tenants.  In the long-term, communicating frequently with tenants will enable many benefits for the property manager.  Keeping communication at the center of the customer service strategy helps managers to better understand and cater to their tenant’s needs while tenants will have gained better insight into the unit they invest in.  In this blog post, we discuss the long-term benefits that consistent property management communication has for the company.
1) Increased value for your business
Tenant retention drives immense value for your business and increases the bottom line, which is why it’s one of the most important functions of managing apartments.  According to RentPrep, when you successfully retain one tenant itself, the company can save an average of $1,750 per unit per month from tenant turnover costs like administrative work, vacancy, and marketing. For a property of 100 units with a 95% retention rate, property management companies save close to $2 million per year.  The best way to avoid turnover and increase retention is to keep your communications with tenants ongoing.
2) A sense of community in your properties
Following up with tenants regularly helps you to build a long-term relationship with them.  In turn, they feel that they are part of the community. They will be more invested in the place they call home.  Building positive relations will also lead to more harmony and fewer conflicts that managers would otherwise need to dedicate their time to.  Her……