If you’re a young entrepreneur looking to establish your very own property rental business, you’re going to have to work hard to differentiate yourself for from the thousands of others out there in your city and the surrounding areas. If you’re starting from scratch, how can you be sure you can offer something new and original that can guarantee you customers? Here are some ideas.
Effective Communication Channels
One of the most common issues had by tenants who find their properties through agencies is that the agencies don’t listen to their problems. Establishing feedback channels is essential if you want to be an effective property rental agency. If you can listen to your tenants and then act upon their questions or issues, you will show that you are responsive, and that you care about them. This will create high levels of word-of-mouth transmission of your brand, and could lead to repeat business.
Flat Pack Furniture or the Real Deal?
It’s amazing how much difference the right furnishings can make on prospective tenants’ views of one of your properties, so if you want to really impress people, you’ll avoid cheap and tacky flat pack furniture and go with the real deal. Companies like David Philips won’t only ship furniture to an address for you, they’ll even deliver it to the door and assemble it for you, making your life easier, but also ensuring that you’re providing a high-quality living environment for any prospective tenants.
Honouring Agency Agreements
Finally, it’s essential that you honour any tenancy agreements that you make with your tenants. This means that when your new tenants move into the property, you supply them with an inventory, explain any existing issues with the property (and how you’re looking to address them), and – crucially – you have realistic fees. If your fees aren’t appropriate to the amount of work you’re doing on the property, and the time you’re spending on the account, your tenants are going to begrudge paying it. Undercutting your competition on fees is also a great way to build hype around your agency. At the end of the tenancy agreement, ensure that you pay your tenants their damages deposit back in full if no extra damage to the property has been incurred, and if you’re reducing it in some way, explain why.
So there you have it: some of the ways you can ensure that your property rental agency really stands out against the competition.