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Turn a Loss into a Gain

Sep 14, 2020

In any organisation it is natural to understand customers will enter the business, and inevitably exit the business if they no longer have a need for the services.

In many Property Management businesses we often find plenty of focus and effort in the process to make the onboarding experience a positive one, and the exiting experience can be a far lower priority even though this will provide the last impression the agency has.

By taking some time to focus on the process you have for a client exiting the business, it can help streamline a function which will naturally occur over time. Like any process you have in the business, be it new tenancy, vacating tenancy or new management as an example, a checklist and standard templates can be useful for your whole team to systemise the stages and ensure nothing is missed.

Within your business it can be healthy to regularly review the level of lost managements and break this up into what was avoidable and what was unavoidable from natural attrition. By monitoring these numbers over time, you will get an idea of a base line level for your business which will vary depending on your local demographic.

If you can improve the process a customer goes through when they exit the business, you will increase the likelihood of referrals, and positive commentary among your local community.


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