Communication Guarantee: Why 92% of Property Investors Expect 1-Day Response
Communication Guarantee: Why 92% of Property Investors Expect 1-Day Response
By Brian Bean, Dream Big Property Management
The No. 1 complaint we hear about property managers? They won’t return phone calls. Even though rapid communication can reduce stress for property investors and increase trust between owner and PM.
The Communication Crisis in Property Management
Several times a month, I get a call from a property owner who is frustrated because they can’t reach their current property manager. They say, “No one will call me back.” Or “I left three messages and haven’t heard anything,” and “I have no idea what’s going on with my property.”
It’s surprising how common this is, especially in today’s world of high-touch, immediate gratification to which we’ve all become accustomed. And it’s clearly an area of concern for property owners.
The Data Speaks Volumes
In a recent Property Management Trends report conducted by The Harris Poll, 92 percent of rental investors expect a response from their property manager within 1 day. Nearly half of those respondents said same day, within a few hours.
The expectations are clear. And frankly, when you can order an air fryer on Amazon and it shows up at your front door later that day, service providers shouldn’t make their clients wait for them to fire off an email.
Communication Breakdown
We’re not talking about interruptions to inquire about your office hours or whether a certain product is in stock. These are rental property owners, entrusting their most valuable assets to our care. And so when a property owner can’t reach their manager, the anxiety beings. They start imagining worst-case scenarios … what’s wrong with my property, is the resident paying their rent, is there a problem that someone is afraid to tell me about? The imagination fills the gaps with worry.
The “Accidental Landlord” Challenge
It’s especially important for people who are newer to rental property investing, or what we call “accidental landlords.” If you inherited a property, or you moved out and decided to rent your house instead of selling, you might not have a lot of experience with property management. You’re relying on your property manager to guide you through the process and keep you informed.
When communication breaks down, it’s unnerving. Client trust begins to erode. … Picking up the phone is a small act, but it carries big weight. But they think, if we can’t bother to return a call or email, how can we be trusted to handle the important details?
The Root Causes of Poor Communication
The thing is, most of the time when property managers don’t return calls quickly, it’s not because they’re in the middle of some crisis. It usually boils down to three issues:
- They’re really busy – Property management is hard, and many managers are overworked
- They have poor systems – If no one is monitoring emails or answering phones, things get lost
- They don’t prioritize communication – Not responding in a timely manner shows where their priorities are, and where they are NOT
But at the end of the day, it doesn’t matter why no one called them back. To our clients, all they know is that they can’t get anyone on the phone, they’ve left messages, and they don’t know what’s going on with their property. And the level on their trust meter is dropping.
Our Journey to Better Communication
For full transparency, we’ve been there. Overworked, with a bad phone system, taking too much time before we call someone back. I’ve been that guy. But when we finally focused in on communication, we got intentional about being better, more responsive. And we were able to strengthen and maintain trust with our clients.
And then we put it in writing, creating our Communication Guarantee. Today, we promise a response to any communication within one business day… same day whenever possible.
Core Value Connection
And turns out, we want and need to communicate well with our clients. Because it’s innate to who we are, to how we do business, to why we serve. Our Communication Guarantee touches on all five of our company core values:
#1 – Live in the Truth – Deliver news quickly, and have a solution if necessary
#2 – Put the Client First – Show value to our customers
#3 – Treat People Right – Respect our clients and customers, not just for the sake of revenue, but as people
#4 – Have the Heart of a Teacher – Communicate to inform and educate
#5 – Own the Outcome – Take responsibility and solve problems
And hey, if 9 out of 10 rental property owners expect to hear back from us within 1 day, that’s the standard of care. Our goal is to exceed it.
The Business Impact of Guaranteed Communication
It’s a simple thing, returning a phone call. Seemingly innocuous. But that simple act has had such an immediate impact on our relationships with our clients.
It’s a show of respect, and when you respect your clients and customers, that spirit of service shines through. If it is infused in you and your company, people will want to do business with you. They’ll tell their friends, family and neighbors. And your business will grow.
It’s really that simple.
Have questions about our Communication Guarantee? Call Brian Bean directly at 951-314-5402. I’m happy to share. And guess what? I’ll call you back within a day, probably sooner.
About the Author: Brian Bean is President of Dream Big Property Management, serving rental property investors throughout the Inland Empire of Southern California. With years of experience helping “accidental landlords” become “intentional investors,” Brian specializes in building trust through guaranteed communication and proven property management systems.
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