If you’re like most property managers, you’re looking to minimize risk and maximize tenants’ profits. One of the ways you can do this is to create a “Before & After Plan”.
What is a “Before & After Plan”?
Quite simply, it is aligning all the possible touch points your tenant may have leading up to and then immediately after the signing of their leasing agreements and pinpointing opportunities for referral revenue, improved experiences and increased engagement. For example, tenants may likely have additional needs for a cleaning service, a moving company, a storage unit, an interior designer or a general contractor. These needs will typically fall in a predictable pattern, meaning you can assemble a suite of tools and providers that will serve these needs easily and then scale to provide your growing tenant base.
Where do you begin?
- Create a mock timeline of a typical tenant
- Highlight opportunities for services and products
- Find well-regarded and recommended providers who can serve these needs (pro tip: spend a lot of time vetting services and try to stick with the objective marketplaces or best-of-the-best services to protect your reputation)
- Discuss their individual referral or affiliate programs (pro tip: consider what you expect from each referral before discussing so you can determine what the expected value is for you!)
- Generate a list of services and providers that you can share with your tenants (pro tip: brand it with your contact information, company logo and anything else you have to make it more professional)
- Keep close tabs on tenant experiences and feedback–you will want to make sure to update your list if you find certain services are making your tenants very happy (or providing less than exemplary experiences)
- Finally, if you’re tech savvy, create a partners page on your website and use widgets and affiliate tracking links to better track tenants and commissions!
Interested in learning more about Unpakt’s Property Managers Referral Program?