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How do people decide on a property manager?

June 27, 2020
How do landlord or tenant decide on a Rental property manager?

We believe that three basic factors influence the selection of a property manager.

1. Word-of-mouth & Web-site

Everybody knows that people tend to listen to word-of-mouth from friends who had a good experience with a specific property manager. They seek out others who have some level of experience in renting property and with whom they already have a relationship.

However, not all everyone knows the relationship between Word-of-Month & Web-site.

We believe that word-of-mouth always spreads regarding the ease of use of the property manager’s website. When people listen to word-of-month of a property manager from friends or social media, they tend to verify it by googling the property manager’s website. If there is no website found or the website is not functional, people will start to hesitate the word-of-month message they receive and tend to forget it. On the contrary, once people know that property manager’s website exists, the issue will be more about whether or not it meets their personal needs.

The web-site is a confidence indicator of quality and can reduce uncertainty when people considering whether or not to engage a property manager. The website gives people a clue about the “potential quality” they might find if they contact the property manager. This is also the key reasons we are constantly keeping our web site informative, useful and updated

2. Visibility & Availability

People may be aware of the property manager’s name and have already visited the website to verify their word-of-month message received, but they won’t feel good unless they see that the property manager is truly active, easily available and convenient for engaging.

When you ask your friend why he picked a particular property manager, and imagine if he answers “Because I see them the most in the rental market and neighbourhoods I like the most, he is always available and trying his best”. When you hear your friend comment, will you also consider this Property manager?

The visibility and availability of a property manager always play a key role, it helps to reconfirm and strengthen the customer’s choice everyday. If your customer see you around, they will feel good and believe their confidence on you is correct.

This is also the key reason why we keeping on engaging our stakeholders actively, no matter it is through face-to-face conversation, video conference, or on social media, we want them to know that we care for them and we are always available to work with them.

3. Reputation

Again, everybody knows the importance of reputation, but what exactly means to our people? Or what should a property manager do for earning a good reputation from others?

We believe reputation is a people opinion sources from 4 basic elements:

a. Professional: Will I feel secure and comfortable working with a property manager over a long period? Is the property manager established? What is the longevity of the property manager’s brand? Do I trust him or not?
b. Integrity: Will the property manager respect my wishes? Will the property manager give straightforward answers? Will the property manager be honest, and protect my privacy?
c. Experience: Does the property manager have the breadth and depth of experience to understand and adapt to my rental situation?
d. Knowledge: Does the property manager know marketing, staging, presentation, and technology in a way to effectively rent out my property?

What can we conclude?

People begin the process by paying attention to social sources offered by word-of-mouth referrals from friends and family. Jointly, people verify referrals by checking any website that existed. When they start to approach a property manager, the factors of visibility & availability kick in and start to play a critical role. Once the engagement truly starts, the bottom line rests on the property manager’s professionalism, integrity, experience, and knowledge — which then becomes the basis of the reputable information passed on through another cycle of word-of month.

This message was brought to you by RentalPropertyManagers.ca

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By Patrick Cheung

Patrick is a well-trained Rental Property Management Professional. He completed the Rental Property Management Licensing Course in UBC. Patrick plays a key supporting role in day-to-day functions and creates an active working partnership with our licensed Property Managers. Before joining us, Patrick worked in financial and technology areas for many years, he brings to the position extensive experience in business management, financial, mediation and a diverse range of IT technical skills.

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