If you’re just starting out in the property management industry, gathering as many new clients as possible may seem like a wise idea. If you’ve been in the business for a while, however, you already know there are some clients who simply aren’t worth pursuing. Knowing what red flags to look for can help you avoid the hassle and headache of working with problem clients and keep your book of business running smoothly. Here are three types of clients to steer clear of.
The Cheapskate
Price haggling may be common practice when purchasing a vehicle, but it has no place in property management. Still, you’d be surprised at how many property owners will try and negotiate lower rates for your services. These individuals are always looking for the best deal, and even if they succeed at getting a lower price, they still feel they’re getting ripped off. As a property manager, you have a lot of value to offer your clientele. Don’t let anyone diminish your worth, otherwise you’ll never get ahead.
The Worry Wart
Most people hire a property manager because they don’t want to have to deal with the day-to-day tasks of managing their properties. Makes perfect sense. Unfortunately, there are some people who simply cannot relinquish control. These owners tend to micromanage, wanting constant updates and always calling about something. While it’s important to keep your clients in the loop, having someone breathing down your neck will ultimately impact your productivity. Property management software can ease some of this burden, but if that’s not enough, it’s probably time to move on.
The Know-it-All
You want your clients to hire you for your expertise, and this is typically the case with most home owners. Yet, occasionally, you may run into someone who seems like they already have all the answers. They always know the best contractor to call and the best way to approach every situation. Working with someone like this can be an absolute nightmare. It’s like a constant tug-of-war between what you each feel is best. And frankly, this type of working relationship isn’t worth your time.
At the end of the day, you want to build a portfolio of clients who are more than happy to delegate and allow you to do your job. While it may be tempting to take on anyone who is willing to pay for your services, especially when you’re just starting out, in the long run, being selective about who you work with will pay off tenfold.
Over to you: do you have any nightmare client stories to share? We’d love to hear them! Please comment below!
