2014 is ticking along steadily and summer will soon be upon us. Before that happens however, there’s still a bit of time left for some spring cleaning. It’s especially important for letting agents to ensure their house is in order, as this year is set to be a big one for the industry.
The private rented sector is expected to carry on growing at an impressive pace, with tenant demand continuing to rise. Meanwhile, the lettings industry is still attracting a lot of political attention, as the introduction of new regulations and plans to improve standards and root out rogue operators are discussed by the country’s leaders.
With all this on the horizon, a bit of spring cleaning will certainly help letting agents ensure they are in a position to grow and thrive over the course of the year.
Dusting off the accounts
As with any business, the accounts are vital for the successful running of a letting agency. However, it can be easy to fall into something of a routine and keep following the same practices year after year without considering whether a new approach may be beneficial.
With this in mind, it could be useful for you to dust off the accounts books and have a thorough look at how you manage your finances, thinking about if anything can be done to make savings and boost the bottom line.
Trimming the admin burden
For many people, spring cleaning also involves getting out in the garden and ensuring it’s looking good for the summer ahead. Letting agents don’t need to think about the mowing the lawn, but they can consider trying to trim their admin workload.
While it is necessary, admin can build incredibly quickly and take up time that could be better spent elsewhere. This can be addressed by thoroughly reviewing processes and identifying any areas where improvements can be made. For instance, is the agency using the right property rental software and computer systems? If not, it’s likely the admin workload is more of a burden than it should be. You can find out more about this by visiting the Rentman website.
Marketing
Spring cleaning is all about making the house look nice and letting agents should be just as concerned about their own image. The lettings industry has been getting something of a bad press recently and this makes effective marketing essential.
Agencies need to show they are nothing like the minority of rogue operators whose malpractices get reported by the press. Effective marketing, be it email, social media, online property portals or old-fashioned print advertising, is key if this is to be acheived and your company is to continue attracting tenants and landlords alike.
Website
One of the best ways your letting agency can boost its brand image is by spring cleaning your website. The internet becomes a bigger part of the sector with every passing year and in many ways your website is your agency.
An outdated, unattractive and poorly functioning site suggests the company itself has the same negative traits, whereas a modern and stylish website presents the agency in the best light possible. First impressions are vital and for many potential customers your website is the first experience of the agency they will have so it’s vital to make it a good one!
