By the time you all sit down to read this, baby #3 and Rigby Tribe member #6 will have entered the world. If you’re on my email list or on my social media, I’m sure you’ve been inundated with photos, so I do apologise in advance. How long am I on maternity leave, you ask? Well, if it goes anything like my second, there were contracts being completed in the delivery room! Lets say there wont be much time off, I’d miss you all too much… Anyway, enough of the personal stuff, let’s dive in!
So, over the last few years, we’ve noticed more and more folks looking to own their own piece of the market. As rents creep up (which is awesome news for our investors!), tenants and first homeowners start thinking about making that big leap towards ownership, joining our community as proud owner occupiers.
I know and understand this situation is not ideal, and I know you want me to delve into how to stop them from buying. I mean, there are ways to ensure your complex is more attractive to investors, but that is a whole other article. The simple truth is, you can’t stop owners from purchasing, but you can shape the story to have a silver lining. First off, as the manager, it’s key to get yourself involved in the sales process; whether you handle the sale yourself or bring in an agent who has your best interest at heart and understands your business model. By being part of the process, you can make sure if an owner does move in, they’re the right fit for our community. You can ensure that they understand the intricacies of living in a community title scheme and what that looks and feels like. Plus, it’s a great chance to kickstart a solid relationship with this new owner in your community. We will delve into the importance of this another time, but I am sure you can read between the lines.
Here’s the silver lining– as the on-site property manager, you’ve got the perfect platform to promote your Property Management business on a regular basis. This means that when the time comes for them to move on from community living or upsize their property, you’re the first name on their list to handle their investment.
Want some tips on how to promote your property management business to this owner without being over the top? Of course you do, grab a pen….
1. Make sure your quarterly newsletters have a section that hints at, “Thinking of turning your property into an investment? Reach out to us for a chat.”
2. In your quarterly Newsletter show off the great work your team is doing in the property management space (Maybe a small section called “over and above”)– let them see, hear and feel you are the only choice.
3. Set up EDMs (Email Direct Marketing) that exclusively target your owner occupiers… some heading ideas “thinking of selling, why when we can get yo record rental returns?” “Want to know what your property could be achieving in our rental pool?” “Do you have any questions about becoming a landlord?”… You get my drift.
4. AT LEAST Once a year, make a point to call each owner occupier. This way, you can work out where they are sitting in their property journey…
While we can’t keep owner occupiers out, we sure can steer things to make it a win-win situation for everyone involved. Remember, it’s all about creating strong, mutually beneficial relationships.
