Are you a property owner on a budget, wondering how you could ever possibly compete with the properties that are able to hire the services of big name property management companies? In so doing, they instantly have access to economies of scale when it comes to contractors, maintenance crews, marketing, and more. They also have a well-trained staff, with quite a bit of experience on what it takes to keep units occupied.
Just because you don’t have a big budget doesn’t mean your property can’t rival those that do. Here are some simple things that will help ensure your property equals (or exceeds) the offering of the big guys:
- Invest in proper training. Many property owners simply overlook just how important it is to have a friendly and responsive staff on the property. However, this is something tenants notice (and complain about) with frequency. Choose office staff wisely using thorough screening processes and invest in their training. While having access to professional training is a nice benefit, simply being clear about expectations, enforcing those expectations in reviews, and setting the right example yourself goes a long way.
- Be resourceful. Just because you don’t have a big budget doesn’t mean you have to go without when it comes to hiring good maintenance crews and contractors. It means you just have to be a bit more resourceful. Use Craigslist, Yelp, and references from trusted small businesses in the area. Do your homework by conducting adequate research and background checks on anyone you hire. This includes checking references and making a concerted effort to see their past work. Don’t forgo this important point: costly mistakes come from hiring untrustworthy contractors, and that’s exactly what you’re trying to avoid.
- Shop the sales. You, too, can have great looking aesthetics just by knowing where to shop. You don’t have to hit up Restoration Hardware to get great looking and very appealing cosmetic touches the big guys pay for at a premium. Scour the Internet. Check eBay regularly for discounted lots of materials. Keep an eye out at your local Goodwill, where many businesses tend to donate their overages. And, there are also amazing finds to be found at places like the Discount Home Warehouse, and other similar businesses that offer deep discounts on recycled materials and furnishings.
Of course, the best idea for any property owner is to enlist the assistance of a professional property manager who knows what it means to work on a budget, while providing services to rival the big guys. Class A Management can be that provider for you. Call us today to learn more at 817-295-5959 or send us an email to info@classamgmt.com.