Your Property Manager Will Hesitate to Make Changes if Micro-Managed
“Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.”
– Stephen Covey
Choosing a property management company to look after your rental properties is very much a matter of trust. You are entrusting an asset worth tens, if not hundreds, of thousands of dollars. You trust that they will keep the income stream strong and profitable and that they will maintain, or even increase, the value of your investment. It is not just a matter of skills; you are looking for a company you can trust.
We here at MoveZen Property Management understand that. We have built our business on creating trustworthy relationships with our clients.
If that is the case, is it possible that we would show favoritism to one client over the other? The sad, but true, the answer is “Yes.” But let’s set something straight, first and foremost. Any favoritism we show has absolutely nothing to do with payments, fees, or rates. It has nothing to do with money.
Then upon what is our favoritism based? It is based on… trust.
Trust is a two-way street. It is a relationship based on confident two-way communication and mutual understanding. When we have clients that trust that we are working hard in their best interests, it makes it very easy for us to work with those kinds of clients. We have the freedom to pursue decisions and make recommendations that are in the best long-term interests of our clients.
Controlling or unpleasant owners, on the other hand, leaves us almost no room to work because they tie our hands and make us afraid to make the tough calls. Clients that frequently accuse their property managers of always spending money on repairs or of lining their pockets instead of forwarding the profits to the owner can make a property management company dread any contact with the client. If we are afraid to take even a small risk or make any kind of recommendation or judgment call, we find that in the end, it ends up costing those owners more in differed maintenance costs or tenant damage.
While we completely understand that building trust takes time; we also know that long-term suspicion seriously damages working business relationships. Those clients that show understanding of our job and the need for us to make tough decisions about their investment properties tend to fair much better. If you would like to remain as a favored client, please help us maintain an open and trusting two-way communication. Trust that we will not spend one single dime of your money unless we judge that it will benefit your investment financially. We are not asking or expecting free reign of the finances – just the freedom to make judgment calls and recommendations free of accusation. Meanwhile, we will continue to be committed to building and maintaining your trust in our ability to create a stable cash flow that earns you the return you are seeking