Sarah Coupland: Real Estate Entrepreneur

PART 2 - TREAT YOUR PROPERTIES LIKE A BUSINESS On average, your tenants spend about 30% of their income on your product, the rental units. This is likely your tenant’s biggest expense every month. Here are some tips for customer service and offering a good product in exchange for that rent: Offer a nice place to live. It may take a small initial investment, but you will have better tenants and higher rent if you spruce up or renovate the unit(s). I have managed properties o...n the low, mid, and high-end scale and I can guarantee you the good quality rentals you provide will bring in higher rent, better tenants, and customer retention as well. When there is a legitimate repair, act quickly. If a tenant informs you of a plumbing leak and you look after it right away, you are providing good customer service and potentially avoiding bigger costs you’ll also potentially save yourself and more damage later on as well. When your tenants pay the rent, send them a text or an email to thank them! They are your customers. Be open and honest with your tenants. If there’s something happening at the building or if they’ve asked you for something that you can’t give them, be truthful with them. They will appreciate your honesty it and feel appreciated by you. Follow these tips and your tenants will be more likely to pay their rent on time, take extra care with the apartment or may even stay in a place that they don’t necessarily want to stay in. Focusing on your bottom line: You also want to act quickly when things go wrong with your tenants. If rent doesn’t arrive on the 1st, issue an N4 on the 2nd, even if they’re your great tenants. If there is damage to your property, issue an N5 right away. And remember, the key for N5’s is regular inspections, so you find potential damage. By law, we must inspect fire and C02 alarms annually- we complete our inspections at the same time.

Over the next few days we will be focusing on Treat your properties like a business. Some of us have difficulty doing is treating our properties like a business. You could have taken your investment funds bought a candy shop, a soap shop, a retail store. Instead you took your funds and invested in real estate which is a business. Think of your favourite place to shop. It’s likely your favourite shop because of their standard of customer service. Focus on customer service and ...on your bottom line with your rental business. Often, those favourite stores send you a birthday card or a discount on your special day or some might add a credit to your account. When you reward your customers and offer them good customer service, they are more likely to be loyal to you and you’ll have customer retention. You should be practicing this with your rental business; your tenants are your customers. See more

DAY TWO OF KEEPING KINDNESS AT THE FOREFRONT - If your tenant is having trouble paying rent or is frustrated because of a maintenance issue, or upset for whatever reason... Take a deep breath, and respond with kindness. Choose your verbiage carefully to reflect concern, understanding, and empathy. Be proactive when it comes to corresponding with your tenants. Reach out and make sure they are okay. See if there is anything they need to discuss with you. Open communication is ...a great tool to foster trust and build your relationship with them. Many tenants may not feel comfortable reaching out to you...so let them know that they can. Not everybody will have positive things to say, and that's okay. Be prepared to respond with kindness, and you will have done the best that you can, and it may come back to you.

When working with investors, I focus on their goals and what they would like to achieve and then determine the best way to invest together, as time frame, return, and risk are all factored in. Interested in Exploring What Working Together Will Look Like? Open doors to new opportunities this year! Send me a message!

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Keeping Kindness at the forefront! Today and tomorrow I'm going to focus on kindness with tenants during this very challenging time. With so many scary and negative things happening in media, I think it's important to keep positive and promote kindness to those around you. As housing providers, this translates directly to how we interact with our tenants. Imagine all that people are going through, and then remember that you don't really know a persons full situation. Physi...cal isolation can have impacts on people emotionally and mentally. Not to mention the extra stress if people are also experiencing job loss or reduction, and financial constraints. Add to that being an educator for their children and you can understand that many people are not necessarily in their best place right now. We have an opportunity right now to help our tenants through this challenging time by being supportive and kind. By rising above and setting an example for interaction and relationship building that shows that we are looking out for them and able to work with them through this difficulty.

Real estate investing is a great way to replace your income and retire earlier than normal. don't wait, get started now - I’ve been buying properties, managing tenants, and completing renovations for over 13 years. We have 250 + properties managed, 7M in deals completed, and 40+ renovations completed. Let's talk! #realestateinvestors #realestateinvestor #growwealth #financialfreedom ... #realestateinvestment #realestateinvestingcommunity See more