KRS FIRST “FIXES” YOUR TENANT … THEN THE PROBLEM
Superior Tenant Service … Win/Win for Renters & Landlords
(First in a Series of 3 Articles on this Topic)
In this article, we’ll share KRS property management best practices to deliver tenant service that exceeds expectations. You’ll learn the two guiding principles at the core of the superior service strategy KRS embraces in serving our SFH landlord customers.
Likewise, if you are considering property management as a DIY effort, you’ll benefit from learning the secrets to relieve stress in renter relations … plus maximize your profitability and enhanced valuation of your residential rental investment. You also may be persuaded that superior property management is a profession that requires a full-time, experienced team of tenant service specialists.
Guiding Principle #1: Fix your tenant before addressing the problem. Tenants don’t expect perfection and typically will be understanding when things break or other issues surface. Action item: First show you care about them and their frustration.
Guiding Principle #2: There is profit for you as a landlord to maintain a superior level of service. Prompt attention to problems is good for your tenants and for you to protect your investment.
Please read on to learn KRS-proven techniques implementing both principles to ensure mutual satisfaction on the part of tenants and property owners. That is not to say it will be a perfect world … but it will be one based on a shared understanding and respect by both parties.
Guiding Principle #1
Tenants seek a peaceful, safe place to live with a minimum of interruptions to basic comfort expectations. When the inevitable disruptions occur, how the property manager deals with the issues is what will be remembered by the renter … a longer-term “plus-or-minus” building block in tenant/owner relations.
So exceptional tenant service is critical. And it’s not that difficult to achieve with a bit of self-examination and a commitment to exceed tenant expectations … without “giving away the store”.
Critical Point: Tenant service is an “attitude” not a “department”.
That’s basic to the KRS property management culture … regardless of job function.
Additionally, KRS empowers our staff and contractors to fix things, on the spot,
or encourage them to call for help when it's needed.
Here’s a three-step series of KRS property management steps our Tenant Relationship team delivers.
Tip 1: Put yourself in the tenant’s shoes.
So, what happens when a tenant reports a repair or other deficiency? This is truly a “moment of truth” that will determine how your renter is treated as an individual needing help and not a complaining adversary. Show you care … KRS always does!
Smile
That works whether in-person or on the phone. You’ll communicate caring in tone of voice and visual cues. In-person … make and maintain eye contact. You’ll stay more focused on the issues and your tenant will feel you are engaged.
Really Listen
Ask clarifying questions to be sure you are getting the full picture of the issue. Then repeat back what you understand the problem to be and get agreement from the tenant that you understand.
Don’t Try to Win an Argument
You want to fix the renter, not just the leaky toilet. That means moving the customer from angry or disappointed to being pleased.
Take Notes
This communicates to your tenant that you are paying attention, truly committed to resolve the problem and have references to prompt your memory.
Tip 2: Offer appropriate solutions that you can deliver.
Solutions are what tenants seek … not excuses.
Tip 3: Act.
Perform! Initiate whatever solution you have promised. Then check back with the tenant to ensure satisfaction.
Guiding Principle #2
KRS supports there is profit for you as a landlord to emphasize how your level of service makes your tenants feel satisfied. Fixing problems is good for your tenants … and for you to protect your investment.
Customer service plays a substantial role in tenant retention. That’s especially critical when you have a tenant who pays on time and is not overly demanding. Fewer turnovers translate into less expense and enhanced profitability.
For more on this, be sure to read 2 Profit Thieves Are a Threat … Vacancy & Turnover
KRS support staff consistently executes as described. The proof … strengthened tenant relations.
Takeaways
KRS tenant service staff is committed to maintain tenant retention as well as the ongoing value of your investment property. That means two-way communication with your renters. Key to this is a contact process that makes it easy for tenants to offer feedback regarding performance of our property management team and report complaints so that KRS may respond promptly.
KRS is diligent in remembering that tenants pay down your investment property mortgage, build your equity, pay your taxes and maintenance costs plus help you maintain and improve your property’s asset value. As property managers, KRS consistently treats renters with the respect they deserve and by responding to their perception of superior service to cement longer-term renter relationships and positive word of mouth … both will help you earn mutual trust and grow as a successful residential rental investor.