This October, we celebrate Abigail Burt’s eleventh anniversary at TSP. As our steadfast Head of Property Management and self-proclaimed Karaoke Queen, Abi oversees a portfolio of over £1 billion in UK real estate.
Her mission? To ensure that every client’s assets are enhanced and managed in accordance with their objectives. Abi shares invaluable insights she’s gained and uncovers practical advice for landlords to stay competitive.
The most rewarding part of your job?
Stepping back and seeing how much a property has progressed under our management.
Not many changes are achievable overnight and you can easily get caught up in the day-to-day – but when you compare where a property is now compared to when TSP were first instructed, you truly see the teams’ hard work shine through.
Advice to landlords today to stay competitive?
Listen to your tenants and advisors and make a letting as easy as possible.
What you did before that let your property or retained your tenants doesn’t necessarily mean it will still work now.
You need to be listening to your property managers, agents and tenants on what tenants currently want and take their advice. It might mean some investments into your asset or changes on how you provide services, but it will mean higher retention rates and faster lettings.
You also need to make lettings as easy as possible. Furnish your offices, get the internet set-up and make your leases as simple as possible to ensure there are limited delays or obstacles for any incoming tenant.
Tenant retention is crucial in a challenging market. What are some best practices for fostering strong landlord-tenant relationships and reducing tenant turnover?
Treat your tenants as customers and ensure you or your property manager are communicating with your tenants regularly.
Provide that high level of service, ensure you have good end of journey facilities and make sure your office is focusing on enhancing its sustainability and wellbeing credentials.
You need to provide an office tenants want to work in, not a soulless property.
Communication also seems so basic but if you aren’t keeping in touch with tenants you won’t have a strong relationship with them or know any changes or challenges they may be facing – or what they actually want from their office. Knowledge is power and understanding their current company requirements will assist in retaining your tenants.
It could be that tenants require a payment plan, need to upsize/downsize or have new occupation requirements they need or want your office to provide – and these elements will be a deciding factor in their property plans.
You won’t always be able to solve or accommodate their problems and requirements, but if you find out too late on something you could have easily assisted them with, you’ve lost a tenant unnecessarily.
Imagine your job as Head of Property Management as a blockbuster. What would the genre and film title be?
Probably an adventure – “From Problems to Prosperity”.
Equally I did meet my husband through the industry, is there a market for a property industry rom-com?
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