Top Ten Tips For Successful Property Management | Zen Business Centre in New Delhi , India

Top Ten Tips For Successful Property Management

Top Ten Tips For Successful Property Management

Property management is not just a business but it is also a skill test as you have to make use of many tips and tricks to ensure that you do not go wrong anywhere. Be sure to remember these tips so that you present yourself well and build a positive reputation in the market. Here are the top ten tips and tricks to help you ensure that you take the best foot forward in the field of property management.

1. Knowledge


It is very important to know your product in order to be able to provide it effectively. It is always advisable to have ready to access information so that you have no problem sharing it with your prospective clients like tenants or vendors. It is on the basis of your ability to share information effectively that the fate of the project gets decided. Whether you get that listing or not can sometimes be governed by the way you present the necessary information. 

2. Be Punctual


The importance of time management and punctuality is great in both personal and professional life. Therefore it is important to be completely committed while arranging appointments and meetings. Ideally, you should try to arrive five minutes prior to the scheduled time so as to avoid being late. By being punctual you not only make a positive impression on the client but your chances of getting the listing also increase. Everyone want to get their work done on time and it is this assurance which makes the client feel comfortable and at ease while working with you.

3. Presentation & Appearance


How you present yourself tells a lot about your personality and nature of work, therefore it is very important to pay attention to personal presentation while meeting a client. Your first impression may not be your last impression but it does count and plays a vital role especially in professional life. Try to make it as good and near to perfect as you can. Not only your body language but your selection of outfit also plays a vital role so always dress up as per the occasion. Quite naturally, if you dress up well you are deemed as sensible and the client is likely to pay more attention to what you say and offer.

4. Honesty


Be it personal relations or professional, everyone wants someone who is honest so never fabricates statistics and reporting. Never try to ‘sugar coat’ an unfavorable situation to landlords about their properties.  Never mislead them about the prices whether they are low or high the property remains an asset and an investment, therefore you should avoid making false promises to maintain trust in the corporate relation.  When the facts are undesirables work out a way to present them along with a positive solution.

5. Marketing


It is also important to maintain reasonable price for the property. Even if your vendor insists on keeping the prices high, be sure to be realistic without getting easily persuaded by the pressure and the circumstances. There could be additional price valued features but you have to make sure if they are worth the additional money or not. It is better to put realistic and reasonable prices instead of keeping the property vacant for long.

6. Advertising 


Advertising is an important aspect and you must put efforts in it. Make sure that you have a draft prepared so that the advertisement is available on time. This will also give a good impression to the vendor as they will get to approve it before final uploading on the World Wide Web. This will make them appreciate you for your efforts and concern and for the fact that they got an opportunity to add a personal touch into the advertisement.

7. Photograph


In the world which progresses fast with modern technologies and trend, everybody wants to make their inquiry online. In such circumstances it becomes important that you keep up to date and make perfect use of professional photography for business purpose. Ideally you should include four shots to showcase a property. Besides, it is also advisable that you provide video portals, drone shots and floor plans to enhance your advertisement.

8. Communication


The stronger the communication the better the relation, therefore make sure to keep the landlords informed regularly and report weekly with feedback. It is important that you maintain a relationship with your client even if you have a new management or a tenant for a property because losing a client is easier than gaining. When you are in touch with old clients as well it may prove beneficial in future. It may cause instability to your business in future otherwise.

9. Data Base


Know your data base and be respectful to your prospective clients just as much as you respect your existing clients. In you data base maintain a record of people who are interested and willing to keep in touch so that you can reciprocate the same. You never know what your prospective client may bring in for you; they might as well be interested in investing in another agency to manage their property.

10. Tenant Checks


Make sure to carefully check the background on tenant and conduct rigorous background checks on employment, tenancy history and personal information. You can also subscribe to TICA which is Australia’s largest and most effective tenancy database. This way you can be sure to avoid bad tenants so that there is no trouble with the landlords. Having good tenants is important so as to ensure that no damage is caused the reputation of your agency.

  • Top Ten Tips For Successful Property Management

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