Show Your Love and Grow Your Property Management Business
Grow Your Property Management Business with Chocolate
Valentine’s Day is for romance but at the core of the holiday it is about showing appreciation to those we care about. If you are like me, you care about your clients deeply. Not only do we care about our clients we need them. Without clients we have no business is the bottom-line.
Who are our clients?
Think beyond owner clients to include our tenants, vendors, and employees?
So how can we show our love and appreciation?
- Call your clients and thank them. This is a great activity to have your entire staff participate in. Plus, this creates a positive interaction with your client instead of only hearing from you when something is wrong, or you need money for maintenance.
- Send handwritten Thank You cards after they have spent money on a turnover or went with your suggestion to give a tenant notice. This shows you appreciate their trust in you.
- Offer seminars with guest speakers such as CPA, Estate Planning Attorney, and Contractor to share their expertise on important issues related to owning rental properties.
- Offer Client Appreciation events such as BBQ’s, ice-cream social etc.
- When you do Charitable Giving on behalf of your business make an added contribution on behalf of your clients and send them a thank you card informing them of their donation.
- Provide gift cards to local restaurants or your client’s favorite activity such as a round of golf for referring a friend or family member to you.
- Create a personalized coffee photo mug with client and their pet (take photos when they come for visits or when you have that client appreciation event) fill cup with chocolate and wrap with ribbon. They will love it and always think of you when using the mug.
- When clients call the office instead of rolling your eyes before you take the call put on a smile and greet them like your long-lost friend. Your warmth and tone of voice will be welcoming and upbeat.
- When personal events happen in the lives of your clients – sad or happy be a resource and support to them.
- Always treat tenants with respect and professionally.
- Provide notices to enter residence as far in advance as possible.
- Assume positive intent and that tenants want to follow your rules.
- Reinforce positive behavior such as paying rent on time with a raffle contest monthly.
- Send tenants an annual Thank You (at Thanksgiving) Card for being a valued tenant.
- When tenants voice complaints listen and hear the feedback.
- Acknowledge life events with cards such as the birth of baby or marriage.
- Take care of maintenance promptly.
- Provide a gift card after an emergency for their inconvenience.
- Offer Vendor Appreciation events with certificates of appreciation and networking so that they feel valued in front of colleagues.
- Gas gift cards are always appreciated.
- When visiting a job site compliment their work.
- Provide opportunities to advertise their business through your newsletter, website, blog, or other marketing endeavors.
- Personally, thank them for going above and beyond in an emergency.
- Provide annual bonuses to your top performers.
- Pay your vendors on time and early in December before the holidays.
- Be available and easy to reach when approvals are necessary.
- Provide coaching or share best business practices.
- Provide lunch during busy seasons to your CPA or Tax Advisor.
- Include your vendors in Owner Seminars.
- Thank you goes a long way…say it often.
- Commend work well done in front of others – owners, vendors, tenants, coworkers.
- Ask employees how they want to be recognized when they meet goals.
- Provide opportunities away from the office to have fun as a team.
- Survey employees about benefits that would resonate with them – it isn’t always about money. Flextime, volunteering in community, education reimbursement, career development opportunities.
- Encourage a team mentality where everyone feels supported.
- Provide monthly one-to-one coaching/development meetings.
- A kitchen stocked with healthy food options.
- Monthly lunch together as an office or team.
- Provide year-end bonus and recognition awards.
Our existing clients are our best resource for growing our business. Ask for the business and look for opportunities to show your love and appreciation and they will spread the word to family and friends. I have learned over the years that great clients have great friends – just the type of people I want to work for and with.
We all know how good it feels when a client thanks us for making their life easier by managing their rental. We often only hear the problems but when we are shown appreciation doesn’t it make us smile and love what we do? Doesn’t it make us want to go the extra mile to serve to our clients including our colleagues?
This Valentine’s Day show your clients (all of them) how much they are appreciated. Send them a note of appreciation and maybe a box of chocolates. My staff especially loved the chocolate covered strawberries…I’m just saying.
Who knew growing your property management business could be so satisfying and delicious?
Kathleen Richards, MPM®, CPC®, MS in Management, was Broker/Owner of a successful management company with CRMC®. She knows firsthand the highs and lows of being a business owner. She is a nationally recognized coach, speaker, instructor, author, and thought leader for the last 30 years focusing on business, leadership, and specifically the field of property management. She owns PM Made Easy – customizable products to streamline operations and founded The Property Management Coach. She can be reached at 800-475-3084.