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Why CX is the key to property management excellence

This blog is dedicated to those inspirational property managers who continue to stimulate the owner/tenant experience within the property management profession.

As you well know, organizations can only provide an exceptional customer experience if there’s an established culture of customer-centricity.

Successful brands are infused with a mission, vision, and values that acknowledge the customer is ultimately the birthplace of their successes and failures. 

CX is a long walk to a motivating and rewarding destination. Nevertheless, it is the ‘quality’ of the experience that builds and sets the tone for the lasting impression. 

Property management is no different, and CX is the fundamental component of the business. It’s estimated that a property manager spends 40 – 45 percent of their time on the landlord relationship and addressing tenants/residents’ issues. Each touchpoint in this journey emulates an experience and the opportunity to make it unforgettable. 

The property management industry thrives on this relationship, with the successful alliance of owner, property manager, and tenant/resident laying the foundation of a long-term tripartite association. This partnership will only prosper when the customer is kept at the center of everything they perceive, plan, and execute.

Synergy between owner, property manager, and tenant/resident is instrumental in achieving CX excellence and maximizing revenue. It’s the customer-centric goals and objectives that sustain and increase the periodic return from the income-producing properties.  

Effective management is not only about a well-run property – it’s a three-way affiliation fostered on the foundation of trust. 

Property acquisition, leasing, rent collection, balancing the budget, and maintaining the assets are some of the property manager’s responsibilities. And while these duties are always in full force, the customer may become secondary amid this lifecycle, despite being the source of survival.

A property manager should take the lead in reshaping the owner’s business objectives and deliver by realigning operational practices. With a customer-centric policy and the right employees in place, they can deliver a boutique service and a high quality customer experience.

Ultimately, happy and satisfied residents/tenants become the promoters of the owners’ properties, which means company success and the potential for significant growth.

The key to maintaining this relationship is understanding the opportunity to build a rapport and cherish this association. Here are some tips to make it a long-term association:

  1. Develop a customer-centric culture led by executive management. Do you have a customer strategy?
  2. Know your people – they are your culture.
  3. Train and educate your staff to become customer-centric. Think and act like a customer.
  4. Foster a culture that appreciates residents/tenants – create happy moments. 
  5. Map the journey, and manage it. The key is to keep it simple.
  6. Measure your success, publish results, and celebrate them. Raise the bar high!
  7. Communicate, communicate, communicate, and remember – CX is a process, not an event!

This article was also published in Customer Experience Magazine

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