18 Jun Managing Your Online Reputation
Reputation is the most important aspect to being a successful landlord. A landlord with a good reputation will attract better tenants and allow for fewer vacancies. Having a good reputation will also help you grow your business and make more money. Managing your online reputation is tough and can be put on the back burner in favor of the day-to-day management of your company.
If you manage your properties well, there is a good chance your online reputation will be solid. With the rise of Property Management apps, tenants are generally more satisfied with the streamlined operations.
Leaving your online presence and reputation to chance could be a mistake. Being proactive with online presence is something that the best landlords do consistently.
What is an Online Reputation?
This is how tenants and prospective tenants see you when they search your company. The online reputation includes your website, reviews, social media presence, and any other info that may be online about your company. Quick responses and having an easy, user-friendly website are key factors affecting your reputation.
Why Reputation is Important and How to Boost It
While rental properties may be your biggest tangible assets, your online presence is worth a lot more. Rentals can lay empty if a landlord has a bad reputation.
The emphasis placed on tenant reputation is similar to the importance of the landlord’s online reputation. You screen tenants, and rightly so, for credit, background checks, references and feedback from previous landlords. If they do not meet your “reputation criteria,” you do not rent to them.
Before they apply, prospective tenants also screen you as a landlord. They look at what previous tenants have said about you, they read reviews and social media all to find out what your reputation is. If you do not meet their criteria, chances are they will not rent with you.
Managing your reputation means you need to control how you are seen online. Tenants will always check our your online presence, and having a good one is vital to success.
Monitor and Embrace Social Media
Having a good reputation on social media is a large part of managing your reputation. Most people spend considerable time on social media and that is generally how they let their complaints be heard.
While you may not use social media, tenants are and having accounts on social media platforms helps keep an eye about what people are saying. This could allow you to prevent a small issue from growing quickly into a much larger one.
Google Reviews
Online reviews are powerful tools. If you are providing great service, many tenants would be happy to leave a positive review. The more positive reviews, the closer to an overall 4 or 5 star rating online you can get. These reviews help you to be shown as a trustworthy and reliable landlord.
Many positive reviews will offset the few bad, or even fake, reviews. Most people are more inclined to believe a 4.2-4.5 star rating rather than a fully 5 star review.
Respond Promptly to Reviews
Management of your reputation requires that you respond to all comments and reviews online, whether they are good or bad. With good reviews, thank the reviewer for leaving it and if it has to do with your quick response to an issue make sure you thank them for bringing issues to your attention.
With bad reviews, make sure you respond quickly and offer a solution. With this comes the fact that you need to follow through with said solution. Since the response is public, people are going to pay attention to how you handle the issue. If you respond well, people will notice and this could enhance your reputation.
Use the Latest Tech
The best landlords are always using the most innovative technology. Using Property Management software can help you streamline your business. This helps you in the most important aspect of being a landlord, providing the best service possible to tenants.
Rent collection apps can make paying rent in a timely manner a lot easier for tenants. It gives them more options to pay, as well. Good software can also help facilitate security deposits, maintenance requests, and offering flexible payment solutions. Many apps for landlords also allow for the processing of applications and running the screenings.
Other Ways to Manage Your Online Reputation
Making sure you keep a good online reputation does not always involve technology, though. What used to be word-of-mouth advertising has been taken over by social media. Making sure that you are the best landlord you can be, whether online or in person, is the best boost to your reputation.
Here are a couple ways to improve your reputation:
- Reward Loyal Tenants: Good tenants are a blessing, and keeping them should be the top priority for you as a landlord. If they have been loyal, show them that you are loyal to them as well. You could send them a gift basket for the holiday season or an Amazon gift card.
- Offer Flex Payments: Being flexible with tenants could do good things for your reputation. Being able to pay more than once a month could help the worker in the gig economy. Offering flexible payments could help those tenants going through financial hardships.
- Resolve Issues Quickly: Be efficient in your response to issues and maintenance requests. Letting issues sit and fester is a dangerous game to play.
Most of all, work hard at being a respectful and kind landlord. Keep an eye on online reviews, look for negative trends and work to correct them. Having an excellent reputation will bring more prospective tenants and keep your renters happy. Happy tenants mean less turnover and increased income.
