None of us want to
receive that email or pick up the phone to hear the message that the landlord
wants to leave. Whether it be to self manage, to another agent, to live in
themselves or to sell the property, we can often feel frustrated at the loss,
especially if we are trying to grow the rent roll.
Have you stopped to
consider that it may not always be convenient for that person to manage their
own property? That the other agent may not suit their needs? That they will
move out again at some point, or purchase another investment in the future. That
they may refer other people to us? The likelihood of this taking place will
depend on how they exit the business.
How to you rate your
exiting client process? It is a smooth event that leaves the client with a warm
positive feeling about your business? Or is it a bit of shambles with a lack of
total care and look of good riddance. What will your client be saying to others
about their experience when they walk out the door?
If we can handle this
process with grace, dignity and detail, we may more than just leave the client
with a warm feeling about our business, but we may enable them to return one
day, or perhaps tell their friends and family of our friendly professional
service.
In order to ensure
they leave on a good note, here are some tips to facilitate a smooth departure
and leave the door open for a possible return.
·
Always
call to attempt to save the management in the first instance, consider if a
call from the Director may help
·
Confirm
the termination of management in writing, confirming the next steps for what
you will do to ensure a smooth departure
·
Notify the
tenants of the upcoming changes
·
Prepare
the file for handover if applicable (always keep copies)
·
Adjust the
system for the departure, record notes of the reasons for departure
·
Be aware
of funds available and bills/fees still owing
·
Redirect
Rates/Levies if you are paying them
·
Redirect/Cancel
Landlords Insurance, Smoke Alarms, Tax Depreciation notice etc
·
Arrange
transfer of bond to new agent/landlord if necessary
·
Add a
diary note to ensure the owner and property are archived promptly as soon as
possible to ensure they do not get unnecessary statements or admin charges
·
Send a thank you
letter/gift with an acknowledgement of their time as a client
·
Send an
exiting client survey to see what we can do to improve and consider what can be
implemented to minimise future loss. What can you learn from this experience?
·
Add a
follow up to touch base with the client at 3 or 6 months
Don’t let the ball
drop next time a client leaves you, handle it with care – even if they have
frustrated you or things are rocky. You never know what opportunities may
develop from just that one client.
Hermione Gardiner
Real+
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