Signing a new client is great, it is rewarding, validating, and exciting. Generating new leads and converting prospects is huge part of staying operational but developing strategies to retain customers is arguably more crucial than converting leads. Repeat customers typically account for 65% of a company’s current business so, a focus on retention is beneficial for property management companies looking to expand their portfolio. After you bring a new customer on board the goal becomes oriented around keeping that customer, but only about 32% of executives say that retaining current customers is a priority.
No matter how devoted property managers are to their customer base, it’s inevitable that sometimes customers may end up disappointed, after all we’re all just human. So, what happens when one of your customers have voiced that they are unhappy with your service or had negative customer service experience? What is the best way to handle a complaint?
The term “customer support” is often used interchangeably with “customer service,” but customer support is actually a distinct branch of customer service. How a company manages support, from team members to technology, contributes to how an organization’s overall customer service is perceived, which can impact leads and client retention.
In multi-family residential complexes, interpersonal friction between owners and tenants isn’t uncommon. In 2019, people spent an average of 2.8 hours of their week in conflict with someone else. Whether they are minor disagreements, noise complaints, or neighborly spats, it’s important that property managers are able to minimize altercations as soon as possible by deescalating tensions.
One of the hard realities of property management is that sometimes you have to be the bearer of bad news. It’s important that property managers maintain a positive relationship with their tenants so, delivering negative news can be intimidating. No one ever wants to be in the position of telling tenants about rent increases, large maintenance projects, or repair issues. Ideally, property managers will rarely have to deliver this kind of news, but when they do, it’s important to be tactful and honest.
The importance of meticulously managed parking lots can’t be overlooked. In many large cities across North America there is a demand for parking that isn’t easily being met which can lead to tensions with first come first serve parking systems. In properties like condos, that have central parking garages, it’s beneficial to take precautions to avoid potential incidents as much as possible by creating a strategical parking system.
According to researcher, Osmo Wiio, “if communication can fail, it will fail.” Being prepared for potential miscommunications is the best way to ensure successful interactions. Property managers need to be able to communicate clearly to efficiently manage their community. They must also do their best to understand what owners, tenants, and residents need.