A property management partner in San Francisco has to be transparent and reliable in order to deliver the results you need as a landlord or a real estate investor. At Luminor Real Estate, we prioritize communication not only because it provides better service to our owners and investors, but also because it makes our jobs easier.
Open communication is the only way to effectively lease, manage, and maintain your investment property. We’re talking about why it’s important, and how to go about establishing the right kind of expectations with your management partner.
Setting and sharing expectations is absolutely essential in property management, whether we’re talking about the expectations we have for tenants or the communication expectations you have for us when we’re managing your investment.
We can’t think of anything more frustrating than unclear instructions or missed deadlines. You don’t know what you don’t know, and minimizing the surprises in property management is best achieved with open communication. Otherwise, important tasks can be overlooked, deadlines can be missed, and tenants can be unhappy.
All of these consequences are frustrating and lead to lower earnings. That’s not good for anyone.
By making sure that your property management team communicates clearly and frequently, you can avoid misunderstandings and confusion. When everyone is on the same page, things run smoothly, and you can focus on what really matters, whether it’s growing your investment portfolio, pursuing your own career, or raising your family.
As a San Francisco property management company, we make it a practice to share expectations with tenants before they move into your property. We will discuss expectations around on-time rental payments and maintenance reporting. We’ll review the lease agreement and answer any questions they have in order to let them know we’re available and responsive.
Clear and consistent communication that’s direct and honest will improve your
resident retention rates, increase the value of your rental home, and contribute to a better investment experience for everyone.
Transparency has been a bit of a buzzword for some time now, and we want to make sure you understand what we mean when we say we’re transparent.
Managing expectations is key in any customer-facing business, and residential property management is no exception. When you work with a team like ours that values transparency, we will be able to provide realistic expectations about things like:
Smart rental owners don’t want to be told good news only; you want to be told the truth.
Transparent information helps you plan for the future and make informed decisions about your investment strategy. Furthermore, transparency in financial reporting gives you a better understanding of the health of your investment, which ultimately works in your favor.
You need accurate information and reliable data, even if it doesn’t represent what you are hoping for. We are the property managers who are not afraid to share the truth and to be transparent about whatever challenges are likely to be faced.
There are many good reasons to partner with a professional team, and one of the reasons you’re working with a San Francisco property management company is to improve the performance of your investment properties.
This requires communication. We talk with our investors early and often. These aren’t conversations about
rental collections and toilet troubles. We’re talking with you about your investment goals and the best path forward in achieving them.
An informal communication process can be just as effective in driving up ROI as a formal process. Our formal process is an accounting statement monthly and additional information loaded into your owner portal to help you access reports and make decisions. Informally, we’ll talk every month or every quarter about how your properties are performing and what might help them earn more. We’ll talk about the market and how we can leverage rental values, population changes, and tenant demands.
Your property managers have an interest in your success, and we’re here to help you earn more on your properties. We know better than anyone that such an outcome requires great communication. Don’t bother working with professionals who can’t help you make good decisions. Our experience, insight, and professional connections and networks can lead you down a better and more profitable investment path. We want to help you grow your business and your portfolio, and to do that, we need to talk.
We’ll keep you in the loop and help you make the right choices. Even better - we’ll protect you from potentially catastrophic decisions. Our consistent communication helps you make more profitable decisions. Here’s how:
A record of strong investor communication and a documented history of better-than-expected performance will help you attract new investment opportunities and earn more on those you currently have in your portfolio.
Responsive property managers in San Francisco are focused on establishing and maintaining good relationships with your tenants. This is crucial to your ability to attract and retain good tenants, and it contributes directly to your ROI. You don’t want to lose tenants because of a lack of communication from your management team. However, this is a common reason that tenants leave rental properties: they don’t feel heard.
As your property managers, we are your tenant liaison. Because you have us working with you, there is no need for you to touch base with renters about
maintenance issues, renewals, problems, or conflicts with other tenants. We will stay in touch with residents. We manage the entire relationship. We make sure we’re doing everything we can on the tenant side to earn you more money. We’ll ask if tenants are having a good rental experience. We’ll respond promptly to maintenance requests. We’ll establish and enforce policies pertaining to rent collection, maintenance reporting, and pets.
The way we communicate with tenants will establish how easily you can count on timely rental payments and lease renewals. Think about how this impacts your ROI when you’re hiring a management partner. You need someone who will respond right away not only to emergencies but to general inquiries and concerns.
Property managers and tenants should talk to each other throughout the tenancy, and while you don’t need to be informed every time that happens, you do want to know when there’s something going on that affects your property and its performance.
One of the reasons that we’re able to communicate so openly and reliably is that we invest in good property management technology. Good tech helps with both communication and transparency. We can also tell you that San Francisco tenants prioritize technology. It’s faster, more transparent, and a lot of times - easier. They expect to be able to make online rental payments. They want to request maintenance online. Most tenants today would rather message than make a phone call. We’re prepared for that and responsive to it.
Just about every piece of
rental property business can be conducted online, digitally, or virtually.
Each of your residents will be different, and they’ll have their own preferences around how to communicate.
We are always going to make communication a priority at Luminor Real Estate. We have talked to too many owners and residents who were displeased with a lack of communication at other property management companies to let this slip. We’re proactive about reaching out to our owners, tenants, and vendors. We establish good communication practices even before a tenant moves in.
Let’s talk about the type of communication that will make you feel well-served as a rental property owner in San Francisco. Maybe you want us to check in with you once a month. Maybe you don’t want to hear from us at all, unless there’s a serious problem that needs your input.
Whatever you need, we’re here to provide it. Leverage our fantastic communication, and contact our team at Luminor Real Estate.
