By: EZ Texting
Is your property management business too busy? If you're feeling overwhelmed by property management communications, getting started with a texting service can help. Management companies can use texting to stay in touch with tenants. Here's how text messaging can help your property management company maintain its communications.
Promoting Your Property Management Company
In 2001, UAS Properties began to develop and renovate properties in the Chicago area. Today, the company manages more than 800 rental properties. Like any property management company, the company must balance repairs, maintenance, and promotion. They receive 150 calls every day from prospective renters.
What happens to those renters who don't find a match right away? If you want to maintain a waiting list for your rental properties, one of the best ways to do this is to add interested parties' names to an SMS list. People receive opportunities for price reductions and notices about new properties. Text them when new rentals open up, and you'll reach a keen and already-engaged market. According to UAS Properties, after sending out a text message, they are busy for the next 30 minutes with questions from prospective tenants.
According to NewsMax, tenants not only respond to notes about new properties: texting tenants also helps retain them. "Establishing a one-on-one texting relationship with residents is a reliable way to increase an apartment community’s retention rate."
Speaking of the Rent
Life gets busy, and you probably find that when you're working in the field of property management, people forget to pay the rent. Too many forgotten rent payments make life difficult for you because you need to follow up on each one.
In the example above, UAS experienced many late payments every month. They could follow up with a phone call, a letter in the mail, or even a knock on the door, but that is all very time-consuming. With 800 properties under their wing, the time it takes to follow up on every late payment would be significant, even if each person just received a phone call. Using their new texting service, they began to send out late payment reminders. This has had a huge impact on their bottom line. UAS saves $140,000 per year and replaces this with $100 or less of texting a month because they don't need to have an in-house collection agency.
According to The Reluctant Landlord, text messaging can also help you maintain a strong relationship with your tenants and get to maintenance issues more quickly. Have you noticed that "providing prompt feedback to tenants creates a lot of goodwill?" Text communication facilitates this fast communication.
Tenants also need to get a heads up about activities around the apartment, such as routine maintenance. If the carpets are getting cleaned next week and you need to make sure that everything is off the floors in the hallway, you can send out a message to your tenants via text. This is far faster than email and more effective and less time-consuming than a note on the door.
At EZ Texting, we want to make sure that your business succeeds. Talk with us and discover the many ways that a texting service can boost your business. Sign up for free today.