The healthiest tree often boasts many branches. This same idea is being emulated by many current businesses as they mature in today’s volatile economy. Many companies within a wide set of industries are finding it hard to remain lucrative while sticking to a straightforward, one directional business model.
A Package Deal
A recent article from The Herald Tribune details the emerging shift of many companies in the real estate sector including property management as an additional standard service for clients. The concept of packaging these services together is not uncharted territory, but it seems that more and more industry players are discovering the potential benefits. While this may spell out extra work for companies adopting the practice, it is truly the start of a brave new world for many of their clients.
Serve Better Than R-Fed
The whole concept boils down to added value for the customer. By tacking on a valuable process that is already in line with a company’s core competencies, consumers will see more benefit, have increased loyalty, and perceive a greater competitive advantage from the brand.
This growing trend does not speak only to the unquenchable value hunger of today’s consumers but also to the desire and popularity of the property management process. Why worry about the best way to manage your properties when a group of experts can do it for you? In many cases, the increased efficiency gained from hiring such a team will quickly refund its cost.
A [Real] Trickle Down Effect
Maybe the most compelling reason to up your property management efficiency is to maintain high levels of tenant satisfaction. Much in the same way that quality management can trickle down into tenant satisfaction, tenant satisfaction can in return flow upwards, with fewer improvement requests and complaints leading to an administration with a lighter burden. In the end, effective property management and happy tenants benefit not only the clients but also the administration, owners, investors and brokers.