Property management companies serve as a link between you, your property, and your tenants. Property owners rent out their property to earn extra money without adding to their stress. Tenants rent property hoping to find a quiet and reasonably priced place to live. The job of property management in Bangalore is to ease the stress of the rental property owner while providing a peaceful and inviting environment for tenants to live in.
Although property management in Bangalore is responsible for many areas of rental property management, such as advertising and marketing the property, tenant screening, and application processing, the most important duty is to provide exceptional customer service.
These 8 customer service tips will provide a guide for property management companies to offer the most effective client support:
Make a Fair and Understandable Rental Agreement
A fair and agreed-upon rental contract is the foundation of any successful tenant-landlord relationship. Property management in Bangalore makes sure tenants understand everything written in the contract so that nothing is left to their imagination or question. The clearer the contract, the more at ease tenants will be when they sign on the dotted line. Uncertain or ambiguous contracts not only invite interpretation, but tenants may consider them dishonest.
Create a Formal Process for Tenants to Submit Suggestions and Complaints.
Property management in Bangalore understands that over time, tenants will have both suggestions and complaints about their property or unit. Thus, creating a formal process for giving and receiving suggestions and complaints is best to provide the best possible support. Tenants should know where to go to file a complaint or make a suggestion, and property management companies should review those submissions on a regular basis. This enables tenants and property managers to be active in resolving issues.
Create a Formal Process For Emergency and Routine Maintenance and Repairs
Tenants will likely submit maintenance and repair requests in addition to suggestions and complaints. To handle routine maintenance and emergency repairs, property management in Bangalore has an in-house maintenance crew or a list of trusted contractors. Property management companies, similar to a formal process for complaints and suggestions, should have a place on their website for tenants to submit requests like this (or a 24/7 emergency hotline for repair needs). This assures tenants that they will always be taken care of when needed.
Be Accessible 24/7
It's never fun to answer the phone at 3 a.m., but it's your job as a property management company to be available (or find someone who is!) when an emergency arises. Whether it's morning, evening, or the middle of the night, tenants should know they can call or email if they have any questions or concerns.
All Communications Must Be Replied to Within 24 Hours.
While 24-hour availability is ideal, we recognize that not every call and email can be answered immediately. However, providing excellent customer service needs you to respond within 24-48 hours if you are unable to respond immediately. Tenants who could not reach property management companies by phone at 10 p.m. but received a call back the next morning will believe the property management team in Bangalore prioritizes them. Tenants develop trust and gratitude when they work with a responsive property management company.
Set Clear Expectations
Not keeping promises is the quickest way to sour the tenant-landlord relationship. Make sure that expectations are clear on both sides, and if property management companies say they will do something, they will do it (or communicate why they will not be following through).
Interact Regularly With Tenants
Aside from requests, suggestions, and complaints, it is important to interact with tenants on a regular basis to build a strong relationship and understand their issues. For instance, property management in Bangalore can provide coffee in the office once a month, hold Q&A sessions, or simply walk around and greet each tenant they meet. In any case, tenants and property management companies should not only communicate when something is wrong. The goal is to establish a relationship in which issues can be discussed before they become a serious problem.
Tenants should have faith that their property management in Bangalore is competent. The team should be familiar with the contracts, website, maintenance and communication processes, and property. Tenants will respect property management companies for their work if every request and question is answered quickly and accurately.
Property management can be a highly competitive industry. Excellent customer service is the foundation of a successful property management company, and it can set a property manager apart from the other teams competing for more business.
PropertyAngel is a leading O2O (online to offline) property management company in Bangalore, offering professional property management services for villas, individual apartments, and houses. PropertyAngel's team has over seven years of experience in property management, and our tried-and-tested methods ensure you get the best results.
When you give PropertyAngel your keys, we become your second landlord. In other words, if you hire PropertyAngel, you will not have to worry about property management issues. Similarly, we look for tenants who commit to staying in your home for at least a year. We don't consider tenants who plan to stay for a short period.
PropertyAngel is always eager to hear from you to respond to any questions or business inquiries. Fill out our Property Management Inquiry Form or call us at (91-80-47095974) today (91-7406484455). We are very excited to start working for you!
Your property is most likely your most valuable asset. It requires skilled and attentive management to grow. Choosing a property management company in Bangalore that is competent, honest and licensed is vital. It is to ensure that your property is in good condition and that its value does not depreciate.
It can be challenging to select a property management company in Bangalore. Numerous questions may arise, for example, about their level of expertise, regulatory standards, and the company's fees. This post will finally put all of your concerns to rest.
Let's look at the top seven things to consider when selecting a property management company in Bangalore.
Experience in Property Management
Words can never replace experience. A property management company in Bangalore with more years of experience in the industry will always have an advantage. Simply put, experience is a great predictor of a company's potential.
It is crucial to review the company's client list, which is often available on the internet. It will tell whether the firm has previously served clients with similar needs. Or whether it has experience responding to the changing and distinct needs of real estate customers with various property types.
Since November 2014, PropertyAngel has managed over 1.5 million square feet, has a customer presence in 95 countries, and has a 100% on-time rent distribution record.
Check Online Reviews
Reading online reviews is another excellent way to determine the type of property management company.
Real estate clients often evaluate online reviews to decide whether a property management company in Bangalore meets their requirements. It is necessary to research independent reviews from clients with whom they work and have worked and comments on social media sites. These tools are helpful when comparing multiple companies at the same time.
You can also gather information about the property management company's job quality by contacting professional or personal references. It is a tried-and-true method for assessing the abilities of a property management company in Bangalore.
Compare Management Fees
The fees charged by a property management company in Bangalore must be reasonable. Comparing management fees is one way to know this.
You may take note of a company's price plan on its website. If they don't, contact them for a free estimate. Once you've gathered a few quotes, compare them with their services.
Some property management services may not be high on your priority list. Therefore, it is best to create a priority list of services. It will help you understand which company offers the best price for the best package that meets your requirements.
It's also vital to identify which payment plan to use. It's because some property management companies charge a flat fee, whereas others charge a percentage of the rent collected. Some firms may charge a commission-based fee with other benefits for good tenant services.
There are no sign-up fees or commission-based payments with PropertyAngel.
Review the Property Management Contract
A property management contract explicitly defines the client-property management company relationship. It usually includes brief descriptions of the property management company's services, the owner's obligations, the length of the contract, and the agreement's termination provisions.
The agreement should also include an insurance protection plan and the level of company protection. So, before signing a property management agreement, thoroughly read it and make the necessary changes.
Check the Company's Financial Standing
The finances of a property management company in Bangalore are crucial in making a decision. Selecting a fiscally sound property management company ensures that employees receive their wages and are well treated. Thus, it will boost employee morale, and you will receive better service.
Choosing a property management company with poor financials, on the other hand, indicates that its employees may face wage problems now or soon. As a result, there will be low morale, poor service, inexplicable delays, and other negative characteristics. It is vital to examine a property management firm's
Analyse Business Reports
Reports are most important as part of business engagement. A property management company in Bangalore that provides timely business reports has a better chance of gaining additional business from larger, more compliant real estate firms.
The primary goal of such reports is to keep all key stakeholders up to date on the current situation. The reports also help the company develop a strategy to improve the figures in the short term.
There are several different types of property management business reports. Tenancy reports, for example, include frequent information on turnover, occupancy, and pending notifications.
Profit margins, a breakdown of rent collection, fees, other service costs, and expense management are all included in financial reports. An ad hoc report discusses industry trends and potential disruption factors. These reports make it easier to make quick decisions.
Compliance with the Rules and Regulations
When looking for a property management company in Bangalore, make sure they follow all of the local regulations. Also, the company must have all the necessary certifications, business registration, tax compliance, and insurance certificates. In addition, it should meet other local government requirements.
Why Choose PropertyAngel as your Property Management Company in Bangalore?
PropertyAngel is a debt free, stable and EBITDA positive company. The promoters have a decades long unblemished track record in the Industry. Our conservative, long term & stable approach towards business operations means that you have a solid partner on the ground to manage your property affairs.
In a nutshell, vacation rental management companies look after property promotion, rental, and maintenance. However, it's a little more complex than that. The property management industry has been around for a long time. But vacation rental management, also known as short-term rental management, is the latest trend sweeping the world.
The idea is simple. If someone owns a property, the vacation rental management companies rent it out to visitors or travellers passing through for short periods. Vacation rental guests typically stay for a few days to a week, though some trips can last a month or longer. The plan is to set up a "home base" for their tour. These properties are typically fully furnished and provide guests with nearly everything they need while maintaining a more private and "homelike" feeling than a traditional hotel stay.
Should You Consider Going into Vacation Rental Management Business?
While starting a house rental property management business may appear to be a lucrative venture, you must ensure that it is the right decision.
One needs to be an entrepreneur by trade with a fierce entrepreneurial spirit for their business to succeed. Because successful vacation rental management companies try their best to attract guests, ensuring they have a pleasant stay, pursuing reviews, and then cleaning up and starting over.
What Is a Vacation Rental Property Management Company?
Because managing short-term and vacation rentals is time-consuming, many homeowners prefer to outsource these tasks to vacation rental management companies. Their services typically include:
Market your Vacation Rental Property
Vacation rental management companies create a listing for your vacation rental to help it stand out from the crowd and get more bookings. They also keep themselves informed of the area's local regulations and whether people are looking for a vacation rental property in that area.
Vacation rental management companies focus on improving the guest experience. They are constantly going a long way in earning good guest reviews, which will result in more bookings for your property. Be it better amenities, more helpful information, or more efficient check-in and check-out processes.
Pricing Your Vacation Rental Property
Choosing the right price for your vacation rental property can be challenging. However, vacation rental management companies usually have their finger on the best rental price for your given property. They adjust the price with the seasons to get as many bookings as possible throughout the year. Most short-term rental properties have seasonal rise and fall that most vacation rental management companies know. When there is a high demand for vacation rentals, they raise the listing price and lower it to remain competitive during the slower travel months.
Manage Your Vacation Rental Property's Calendar
Vacation rental management companies successfully manage a busy vacation rental property's booking calendar. They update calendar availability for every platform where your vacation rental is listed. Because the company receives bookings from various channels, they maintain consistency to avoid problems when multiple guests arrive on the same day. Vacation rental management companies have an effective system to keep important dates organised and published accurately.
Handle Communication For Your Vacation Rental Property
Vacation rental management companies ensure that good communication is maintained when potential guests have questions about your property.
Travellers today expect prompt responses throughout the rental process. You probably don't want to be the one who gets the call at 3 a.m. in the morning if a pipe breaks in your vacation rental. Fortunately, that is why you hire a vacation rental management company; they will be responsible for getting back to your guests as soon as possible.
Quickly taking care of your guests' needs will result in positive feedback and repeat business. Hiring a vacation rental property manager to answer customer inquiries, if nothing else, could save you a lot of time.
Manage Third-party Vendors for Your Vacation Rental Property.
A vacation rental property has many moving parts that require coordination. Vacation rental management companies handle all scheduling for cleanings in between guests, regular maintenance, and any necessary repairs like replacing air filters, water filters, smoke alarm batteries, and light bulbs.
When you hire a vacation rental property manager, you can be confident that the property will be clean and in excellent condition for each guest. The management company will ensure the cleaning company knows when to arrive and go.
Report Important Information About Your Vacation Rental Property
As mentioned before, managing a vacation rental property can be time-consuming. It can be hard to make time to see the property in between each guest's stay if you have a full-time job or other responsibilities.
When you hire a property management company, they can act as your eyes and ears and report vital information. The property manager will be familiar with your vacation rental and the normal flow of events. So if something appears to be wrong, they will know to notify you right away.
Vacation rental management companies put a team in charge of the property and provide you with valuable information from the guests.
Why Choose PropertyAngel as Your Vacation Rental Management Company in Bangalore?
You can confidently delegate your vacation rental property with PropertyAngel. In some markets, vacation rentals can be highly lucrative. At PropertyAngel, we scale your operations by taking on the entire workload. As a result, you will have more time to focus on finding new deals and increase your passive income.
PropertyAngel handles all responsibilities, such as marketing across multiple platforms, coordinating maintenance, scheduling regular cleanings, and responding to inquiries from both current and potential guests. In addition, we save clients time when it comes to filing taxes at the end of the year and provide clear financial overviews of their rental portfolio. Visit our website to learn more about our property management services.