1. Turnover Rates
  2. Late Rent Payments
  3. Evictions Time
  4. Eviction Costs
  5. Maintenance Staff Costs
  6. Turnover Time
  7. Operational Staff Costs
  8. Net Vacancy Time
  9. Marketing Costs
  10. Communications Costs

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No industry is immune to the highly infectious annual condition that starts circulating every December: holiday busyness.

With so much going on, it’s easy for things to fall by the wayside. But that doesn’t mean that customers are willing to tolerate diminished service, no matter the season. Or that managers and owners are interested in sacrificing their precious holiday moments to drop everything for the business.

For property management, the only sure-fire vaccination to prevent against holiday overwhelm is to plan ahead. You need to take steps to ensure that your property management business continues to run smoothly throughout the season, so you can keep renters happy while avoiding last-minute maintenance requests in the middle of your festivities.

In preparing for the holidays, here are a few pointers to start things off right – and make sure they stay that way.

Keep it Festive. Remind renters of one of the top reasons they like living on your property: You care about their happiness and well being, and are willing to go the extra mile. Setting a festive mood can be as simple as putting out a bowl of candies in your office or at the front entrance. A few decorations are always welcome; go for neutral ornaments and colours, like silver and blue, or seasonal items (think snowflakes and snowmen). You can also use an online portal to automatically send personalized e-greeting cards to each renter.

Play it Safe. While keeping spirits bright, it’s important to remember that the holidays are a time of heightened fire risk. All those candles and lights are lovely, but they’re a hazard if left unattended or placed too close to curtains, bedding and any other flammable items. Before the holidays, test all smoke alarms and fire extinguishers to make sure they’re in good working order. And send residents a reminder of how to stay safe during the season – for example, by checking holiday lights for frayed cords and turning them off before going to bed.

Maintain a Good Appearance. Take care of any outstanding maintenance requests BEFORE closing up for the holidays. Not only will this put renters in a good mood, but it will also minimize the possibility of urgent requests over the holidays. Good news for your residents and good news for you too! Use a web-based tenant portal to help you stay on top of service requests and monitor routine maintenance requirements so you can take preventative action as necessary. 

Establish Good Communication. Of course, no matter how much you prepare, there’s always the possibility of unforeseen crises. Make it easy for renters to reach you in case of emergency. Give them your personal number or ensure that they can contact you directly through a portal or messaging system. (Bonus Tip: With a web-based solution, you can easily send out reminders if the holidays bring about exceptions for rent due dates. This ensures that tenants are aware of any changes and more likely to pay on time; it also enables them to use their preferred method of online payment, from e-transfer to credit card.)

 

Happy Holidays – And Beyond

Property Vista offers cloud-based solutions that will help you and your team monitor maintenance requests. In addition, our services make it simple and easy to send automatic reminders and receive communications from residents – before, during and after the holidays.

To learn more about what we can do to help make the season bright for your business, sign up for your free account today or give us a call.


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