Automate: Tenant Training -How to Onboard Existing Tenants in your Current Portfolio
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This is almost the hardest group of tenants to reach in terms of onboarding them into your new system (the hardest being the inherited residents at a newly acquired property.
In order to work together with residents who already know you as the property owner is a special challenge all it’s own. Current residents are already familiar with you and trust you, which is good, but as is common, familiarity can also bring disrespect.
The first step is to map out what kind of relationship that you DO want to have with your residents. You’re not their friend, but you can still have a friendly professional relationship where they respect you.
We recommend being clear and committed to creating a business brand so that there is a degree of separation, both for your benefit and for the benefit of your residents. When they see that you are improving your systems and working within a larger system, they will know that you are continually committed to improving their quality of home.
The first step is to outline your company vision. What is the goal of your business, even if you’re a sole proprietor at the moment (we do recommend consulting your real estate attorney and real estate CPA to form a business entity that is right for you, typically that’s an LLC, LLP, or S Corp).
Next, choose your business name. This is should be short and easy to spell. Check also the availability of website addresses and check with your Secretary of State for researving the name.
Third, choose letterhead that you will use with your business name - be sure it’s compliant with using the correct, full name including LLC designation.
Finally, write a “Welcome” letter to your current residents letting them know that you are now working on improving the customer service side and have decided to work with a larger company in order to provide on-going improvements to their experience in renting. The “larger company” doesn’t need to be named because you will actually be working with several larger companies to help set up your systems *See Apartments.com/Trello/Google Voice info at other sections of the Portal. Be sure to provide them with your new office # and only ever respond them using your new Google Voice phone #. Don’t answer your personal phone if a resident calls! Text them back on your office phone and remind them that you are currently only allowed to use the office line with the new company name. That shows two things. 1) you have guidelines that you must obey now. 2) you’re serious about the changes and there are NOT any exceptions for long-time residents.
In the “Welcome” letter, be sure to let them know what role you will now play in serving them - because that’s truly what they are most concerned about. And also, this is NOT the time to raise their rent. Make only ONE change at a time.
By onboarding your current residents to the new system, you will continue to train them that you are working with a larger company with an Approval Committee, Partners, or other sections of your company to whom you must answer. The Approval Committee may be you and your spouse, but your residents don’t need to know that and you’re under no obligation to disclose the identity of those involved in your new business entity. And truly, residents only want to know that you’ll take good care of them and their home per the terms of their lease, which of course will need to be updated when your legal entity is formed. We highly recommend having your attorney draft or review your entire lease and addendum prior to that transition.