Do your unit condition reports help you retain owners?
Semi-annual unit condition reports can help keep vacation rental properties in top shape by addressing wear and tear early and identifying potential maintenance opportunities before they become a problem. Because back-to-back (to back) happy guests almost always mean happy owners—but filling the owner’s rental calendar can become tricky if the unit is out of commission for major repairs.
While unit condition reports have the ability to increase revenue, reduce maintenance expenses, boost retention, and more, owners don’t always see these benefits. Plus, all of the work you do might be missed by owners if it’s not communicated to them efficiently and effectively.
But, with the right software for unit condition reports, you can better show owners everything you do to keep their rental guests happy, improve the property condition, reduce liability, and more.
Wondering how the right unit condition reports can help you improve owner retention? That’s what we’ll cover in this post. Let’s dive into the first way unit condition reports can improve owner retention – better communication.
The first way unit condition reports can help you improve owner retention is by improving communication.
Savvy vacation rental property owners hire professional property managers to take care of the day-to-day tasks for them. However, rental property owners still want to be updated regularly on the condition of the property, guest satisfaction, revenue, and more.
It’s easy to focus solely on keeping the property in good shape, keeping guests happy and quickly addressing critical tasks. However, if you don’t communicate everything you’re doing to owners, they won’t notice it. So, owners will feel out of the loop and may assume that you aren’t properly caring for their properties.
A unit condition report provides a great opportunity for you to keep your property owners up-to-date on the status of their property. What’s more, they can also help you showcase how well you take care of the property and the steps you’re taking to proactively address issues.
The right unit condition report can help you improve communication with owners and demonstrate how your property management company cares for their assets.
Unit condition reports can also help you retain owners by helping you stay on top of property maintenance and overall property condition.
With everything you have to do for every rental property, it’s possible to forget about regular maintenance or miss damaged equipment. Forgetting regular maintenance and missing problems on your property can lead to high repair and replacement costs – which can cause owner dissatisfaction and low retention.
Semi-annual unit condition reports can help you stay on top of regular maintenance. Preventive maintenance can extend equipment lifespan and reduce operating expenses. Unit condition reports can also help you spot small problems before they become large, costly repairs. That way, you can get ahead of issues before it causes problems for your owners.
With the right unit condition reports, you can improve your property’s condition. This not only saves owners money in repair/replacement costs. It also demonstrates that you care about the property and are the right manager for their investment – increasing owner retention.
Unit condition reports can also help you protect owners from liability problems on their property.
If you fail to fix an uneven step or a loose stair rail, a guest could be injured on the property and sue to recoup medical expenses and damages. This can cost hundreds of thousands (or more) and can be easily mitigated with regular inspections and recurring unit condition reports.
The right unit condition report makes it easy to catch problems before they cause liability issues and easily document them in an easy-to-share format. What’s more, protecting owners from potential liability issues can help you reduce costs and improve owner retention.
Another way unit condition reports can help you improve owner retention is by improving guest satisfaction.
There’s nothing worse for guests than something breaking at the property while on vacation. Whether it’s the AC on a sweltering day, the fridge after they just unloaded a week’s worth of groceries, a smart lock when they need to enter their unit, or any other problem, guests simply don’t want to deal with maintenance issues—nor should they have to.
Recurring unit condition reports will help you get ahead of these issues. By inspecting any equipment twice a year to make sure it works and doesn’t need maintenance, you can mitigate the risk of major equipment failure when it hurts the most—in the middle of your peak rental season.
There’s no better way to fill an owner’s rental calendar with back-to-back bookings than positive guest reviews and a unit that’s primed to host recurring guests. But, you guessed it, it’s easy to miss these proactive opportunities without the right unit condition report.
BeHome247’s unit condition reports are designed by property managers for property managers. With intuitive automation, digital documents, easy attachments, and more, BeHome247 makes it a breeze to compile comprehensive unit condition reports in one easy-to-use dashboard. Plus, BeHome247 can automatically send unit condition reports to owners. This makes it effortless to communicate with owners regularly and effectively – improving owner satisfaction and retention.
Speaking about the importance of owner retention, Lino Maldonado, President of BeHome247, said, “The best way to grow your company is to retain more of what you have. BeHome247 can help improve owner retention, quality control, communication, and setting and maintain the proper expectations.”
Unit condition reports can help you retain owners by improving communication, keeping the property in good shape, reducing liability, and boosting guest satisfaction. However, you’ll only see the benefits with the right unit condition reports.
If you’re looking for the best way to facilitate comprehensive and actionable unit condition reports to retain owners, BeHome247 is the way to go. BeHome247 is a complete property and device management platform for residential and hospitality properties.
Sign up for your BeHome247 demo today to get started improving owner retention with unit condition reports.