Effective Property Management. What Does It Look Like For An Owner?

Many owners have had a less than ideal experience with property management, which is why we pride ourselves on being different.

Alexes Hushlak

Many owners have had a less than ideal experience with property management. A few of the more common issues we hear about from our clients in regards to their past experiences include:

  • Poor communication
  • Lack of transparency
  • Inconsistency in quality.

That is why we pride ourselves on focusing on there areas at Ripple Property Management, and we are please to convert owners into advocates.

So, what does effective property management looks like for an owner?

It Starts with Marketing to Find The Right Tenant

Most of our tenants come from companies we have direct relationships with. We find we get better tenants and access to more tenant options by utilizing our direct connections to large organizations, relocation companies, and tenant database. We combine this with all the general tenant and rental websites to have the largest pool to draw from.

First impressions are important, so when marketing a property we have full 3D walkthroughs, professional photography, and virtual tours. Prospective tenants can see the property and the care that is put into it. As property managers we think it is important to give you as much information and as many details about the property as soon as we can. We know your future tenant's time is valuable, and we want them to have as prepared as possible before they even step foot inside the property.

This is the start of the relationship with the tenant, and in doing this properly we find we get better tenants and build better relationships with them.

Making Sure The Right Tenant is the Best Tenant

This is where lease negotiations and screening come into play. These should go hand in hand. It's not always just about a one time sticker price, it's about how much income will be made over the life of the property.

Having a high paying tenant that damages the property and creates excess costs is not a win. Neither is having tenants that are paying below the market price for rent.

We develop a shortlist of applicants and begin the screening as soon as we have their information. It's important to go beyond the basic credit, criminal, employment, and reference checks to truly develop a picture of the tenants. This is why we do past lease review, neighbour talks, and building operator & manager reviews. Looking at more than just what an applicant provides to get an understanding of how they interact with their properties when they live in them.

During this whole process we are negotiating with them on lease agreements and terms. We consult with owners providing all the details and options in this process with our best recommendations based on our experiences and data analytic.

We work for the owner in this process, making sure everything is communicated, transparent, and aligns with their goals and desires for the property.

Maintaining the Rental and Relationship

Effective property management ensures you are getting consistent rental income and the property is properly maintained.

This comes from collecting rent, but also from building a positive tenant relationship to help ensure rent is paid and the property is proactively maintained. Open and regular communication is important for when issues arise, to ensure they are dealt with right away.

This relationship between tenant and property manager helps ensure things are going smoothly and any issues are addressed before they turn into obstacles. While relationships are important this also must be matched with metrics and verification. This is why we do site checks, both for our preventative maintenance / replacement programs and to ensure property is well taken care of by the tenant.

All maintenance requests and reports are handled by your property manager, with full visibility to the owner as to what's going on. This is all included and we do not bill for managing maintenance or site visits. Building relationships and maintaining properties is what we do.

Your property  deserves to be managed and maintained with the utmost care. With Ripple, this level of care starts as soon as we begin a relationship with you and carries on through the relationships we develop with your tenants. At the end of the day we all want what's best for everyone, and with our experience and personal touch we are proud to be the ones to deliver a positive experience for our owners and tenants alike.

If your current property manager doesn't take this care, and go beyond what's expected, it could be time to make the change and start a conversation with Ripple Property Management.

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