Demonstrate your expertise in protecting owner assets and attract new owners to your portfolio.
If you are a property manager looking to attract new owners to your portfolio, it is essential to demonstrate your ability to protect their assets. Here are some helpful tips to showcase your expertise in protecting owner assets:
COMMUNICATION
Communication is key: Clear and transparent communication is crucial when it comes to protecting owner assets. Make sure you are regularly communicating with owners about their property’s condition and any necessary repairs or maintenance. Setting up triggered emails is an easy way to get the conversation started.
Setting up a separate phone number to field calls from home owners allows your team to make these calls a priority. Also, make sure to respond to messages and inquiries in a timely manner. Jodi Refosco recently shared a horror story on the How We Grow podcast with Lynell Gordon regarding an experience that left a bad taste in her mouth.
SCREENINGS
Conduct thorough screenings: Screening potential guests is crucial to protect owners’ assets. Conduct thorough background and credit checks to ensure guest you don’t rent to the wrong guests. Guest Ranger can help with this one. We offer a complete suite of products to stop fraud including Identity Verification, Background Checks, Age Verification, Credit Card Verification, Risk Score and more. Lost revenue is a thing of the past when you can ensure your next guest is not a stranger.
PREVENTATIVE MAINTENNCE
Implement preventative maintenance: Regular inspections and preventative maintenance can help identify small issues before they turn into big problems. Be proactive in addressing any maintenance concerns promptly.
Some tips to help with preventative maintenance include creating a maintenance schedule, inspect regularly, change air filters, check HVAC, inspect plumbing, check smoke detectors, clean gutters and roof, monitor pest control and inspect exterior. By implementing preventative maintenance, PMs and Home Owners can keep properties in excellent condition.
LAWS AND REGULATIONS
Stay up-to-date with laws and regulations: Staying up-to-date with laws and regulations, is crucial to avoid legal issues and penalties and can help protect owners’ assets. Arizona is a great example as they just passed the Short Term Rental and Vacation Rentals; Background Checks Required law. Sec. 11-157 states that no sex offender shall be permitted to own, rent, or occupy the vacation rental.
As we see regulations start to loom over the vacation rental industry, like a dark cloud, it is important to have the right tools in place to keep your home owners compliant. Guest Ranger offers Background Checks as well as a check of the Sex Offender Registry in the state the vacation rental is located. By staying informed about vacation rental laws and regulations, property managers can avoid legal issues and operate properties legally and safely.
A wise professor at the University of Northern Iowa once said, “build good relationships and profitable transactions will follow.” Protect owner assets and provide peace of mind then reap the rewards of profitable transactions.