Contest Covers the Cost of Rent in Winnipeg for One Winning Tenant

Property managers have their work cut out in marketing their properties to new tenants. One way to attract new tenants is through your current renters, especially when your demographic includes millennials because they have many friends and connections.

The marketing strategies that once worked for you in the past may be ineffective today. As generations shift, tenants are now looking to social media and renters’ websites for a list of available properties and recommendations.  As a property manager, you’ve got to be sure you’re accounting for the differences in preference, lifestyle and other key areas when you’re developing a marketing plan so that you can reach as many people as possible.

This also means that your lists of properties have to be in tiptop shape, because if your current tenants are not happy, then you can be sure they will not recommend them to their friends. One way you can appeal to young tenants and form trust within the community is by holding contests.

Contests are a great way to entice new tenants, and they are a shoe-in for sharing on social media.

For example, My Place Realty is offering a contest where you can win rent for 1 year free in a Luxury Studio or One-Bedroom Suite at 190 Smith Street in beautiful downtown Winnipeg. The contest is also offering additional prizes.

The contest rules are as follows:

ENTRANT must be at least 18 years of age.

  • ENTRANT will be entered into a draw to win one-year free rent, 6 months free wifi or 6 months free parking at 190 Smith Street.
  • New residents only.
  • Winner must be a legal resident of Canada.
  • Lease must be for 1 year and signed during the month of September. The contest ends October 1, 2020. The draw will take place on October 15, 2020 and the winner announced on our social media networks.

For complete rules and regulations, please visit: https://www.myplace.ca/blog/antares-luxury-suites-at-190-smith-street-contest-ends-october-01-2020

During these unprecedented times, what would it mean for you to live rent free in the city that you love for one full year? It’s contests like these and other marketing outreach programs that make a property management stand out from the competition.

Easy Rental Real Estate Marketing Ideas for the Busy Property Manager

You’re a busy property manager, and now more than ever, your time is valuable.  If you are new to the field and aren’t quite sure how to draft an efficient marketing plan or simply don’t have the time, the good news is you can incorporate a few good strategies quickly without having to spend too much money on marketing resources. 

Check out these quick and easy rental real estate marketing ideas to showcase your business and vacancies.

Utilize social media

It should go without saying that social media is a powerful (and free) marketing tool available to any business.  Drafting and posting a thoughtful vacancy listing is good business and it allows you to post pictures so that potential tenants can see exactly what the rental space has to offer. 

Whether you are posting a listing to social media, your website or both, make sure before you take pictures to open all the window blinds and turn on all the lights. Especially this day-and-age when most house-hunting happens virtually, your pictures need to stand out. 

You can also utilize social media to promote open houses (or virtual open houses), tell your audience about an event, or alert them to any changes that may be occurring within your company due to circumstances related to COVID-19. 

Maintain professional online presence

Speaking of online marketing, your website is an extension of your business and brand.  If you don’t have a website, there are some simple and free website creation tools to explore, even if you are not tech-savvy.  You can turn to weebly.com, sites.google.com, or GoDaddy.com to name a few.  When creating a website, visual branding is important.  Whether you use pictures of your properties, a logo, or both, make sure to be unique and stand out from the crowd. It’s best not to use stock photos or a generic logo. 

Purchase property management software

Investing in an efficient property management software allows you to keep your listing up-to-date so that it only takes a few clicks to get it out to syndicated rental listing websites. 

Better yet, consider a property management software that has a built-in lead system. That will allow you to post your properties on a website and manage leads year-round. Having a waitlist of interested prospective tenants at your fingertips may save you time posting and managing vacancy listings. 

Answer all online reviews

Believe it or not, tenants will tell other potential tenants about their experience renting from a particular company.  As a property manager, it is up to you to monitor what others are saying about you online and to respond accordingly.  Remember to reply to all positive reviews with thought and gratitude. How you speak to someone in these public forums speaks volumes about who you are, what others can expect.  At the same time, it is equally important to respond to all negative reviews.  With grace and gratitude, how you respond will spotlight your character and overall reputation.

Look for other ways to network

Another way to network your business and to gain trust within the community is by volunteering or supporting local causes.  For example, why not partner with a local animal shelter or food bank?  It can act as a networking opportunity and help someone at the same time. Additionally, it’s good practice to answer questions on online forums, comment on related blogs, join a Facebook group or teach a class in the community.

Remember, it’s all about connection and communication to present your business and your properties in the best possible light. It doesn’t have to take a lot of time or money, just a bit of proactive planning.

How to Retain Good Employees

Employee retention is something many if not most business leaders think about on a regular basis. Your employees are your most valuable asset, and the ones who perform at the highest levels are among those you hope to keep around for a long time. Too often, an employee, whether or not he or she feels undervalued, will jump at a great offer from another company, or worse, a competitor.

There are some things you, as a leader, can do to keep your most prized employees happy at work and prevent them from jumping ship. First and foremost, let them know on a regular basis how much you value and appreciate their contributions to the company’s success. There’s an old saying about praising publicly and criticizing privately. It’s true.

While it’s good to tell your employees how much they matter in a one-on-one conversation, it’s a real boost to an individual’s self esteem to do so in a way that involves recognition. Some companies have an employee of the month program that accomplishes this. Make sure they understand that you know what they’re doing and how much you appreciate it.

Another thing that leads to employee satisfaction is having the latitude to do their jobs in an autonomous way. Far too many leaders, especially middle managers, haven’t figured out yet that micromanagement isn’t a good thing. If your employees realize that you trust them to make certain decisions on their own, it’s likely that that trust will go a long way in creating a happy workforce.

In today’s workplace as well as in the marketplace at large, good ideas are currency. Encourage your employees to contribute their ideas for products, services, processes, and more. You might have someone who’s a creative thinker in a non-creative position who would love the opportunity to suggest something new, innovative or disruptive. Create a mechanism for fostering these kinds of ideas and really listen to and consider them. When you take an employee’s suggestion, act on it and a positive result occurs, that employee will feel extremely valuable.

Provide training and educational opportunities. Many people are attracted to the idea of broadening their skill set, and there are many ways to allow them to do that. Seminars, webinars, workshops, classes, and other forums can help people improve their existing skills and develop new ones. In many cases, the cost is minimal or even free. This is a great way to invest in employee retention.

Investing in good employee benefits can provide a major factor in retaining staff. Look around at the options that exist and explore ways to create a benefits package that addresses the needs of workforce members. Yes, there are costs involved, but making this investment upfront might be less expensive than hiring and training new employees when one or more decide to leave.

Finally, create a welcoming, collaborative culture that makes employees look forward to going to work every day. Find ways to ensure that employees will be satisfied with their work and with the company. Promote your culture and create desire to be a part of it. If your company really lives its culture, it’s a good bet that employees will want to stay for the long haul.

How Leaders Make Difficult Decisions

One of the key traits of any business leader is the ability to make smart decisions and stick with them. While some decisions are relatively easy to make, others can mean the difference between success and failure or profit and loss. Then, once you make your decision, you have to stand by it and sometimes justify it if it’s not popular.

For example, a decision to enter into a merger agreement with another business entity can sometimes have a profound impact on company culture or lead to changes in familiar work styles or processes. This actually occurs all the time in the corporate world. If employees are resistant to change, you might need to invest considerable time and even resources to explain how it affects them. and even retrain them to work within a new system.

Here are a few things business leaders need to do when faced with a difficult decision.

Consider the possible/likely outcomes

Think about everyone who will be impacted by your decision and how it will affect the company. Also, consider how necessary the decision is and what other options might exist. Assess what risks might be involved and how your decision might affect company finances. As you look down the road, ask yourself how things are likely to be different or better as a result of what you decide, and what you might have to do to “sell” your decision to various stakeholders, including management, employees, board members, customers, and others.

Weigh the options

You’ve heard this a million times before, but it works. Get out a sheet of paper and draw a line down the center. Write the pros related to your impending decision on the left side and the cons on the right. Take the time to list all possible benefits and any liabilities. Sometimes when you see the information laid out in front of you in this way it helps you to thoughtfully consider all the ramifications in a thoughtful and thorough manner.

Talk with people you trust

Sit down with your senior management team and ask them to help you. Talk with them about the pros and cons, and discuss each in depth to ensure that you’re covering all the possibilities. Call your mentor, if you have one. Seek the advice of people who have been in similar situations and ask them how they dealt with them. While the decision is ultimately yours, it helps greatly to seek counsel and wisdom from others who can provide intelligent and even empathetic input. Also: sometimes, selected employees can be good sounding boards. If there are people within your organization who you believe can offer sound feedback, don’t hesitate to float your situation with them. Especially if they’re not managers, they might be able to provide excellent input from their point of view.

Make your decision and be prepared to stick with it

You’ve thought about the decision at length, examined all the factors that relate to it. Now, make your decision. Once this has been accomplished, you’ll need to stick with it, explain your reasons when asked and do what you need to do to move forward.

If your decision was a necessary but potentially unpopular one — for example, one that might lead to layoffs, a company name change, an impact on your stakeholders, a change in leadership, changes in board makeup, or something else, you might need to publicly defend your decision and explain to one or even several constituencies the long-term benefits the company will enjoy as a result of your decision. Do it. This is one of the things that demonstrates strength in a leader: accountability.

Renting and Pets: Tips for Making Your Properties Animal Friendly

Tenants who own pets oftentimes have difficulty finding a landlord or property manager who will rent to them because of strict no-pet policies, and that’s ok.  However, owners who who add a pet amendment to their lease agreement see it as a chance to appeal to a broader tenant pool and a reduced tenant turnover rate. 

With more millennials delaying having a family until they are well into their 30s, the younger population is likely to turn to pet ownership as an alternative.  Landlords who do manage pet-friendly properties can benefit from a detailed pet addendum. This agreement can reduce risk of damage and make tenants responsible for their pet. Under the agreement, tenants must also provide a pet deposit equal to one months rent and agree to reimburse the landlord or property manager in the event pet-related damage occurs to the property.

If you’re considering offering your rental to pet owners, here are a few useful tips for making your properties animal friendly in order to prevent damage.  

Encourage tenants with pets to choose units with vinyl flooring

If you do ultimately decide to offer spaces to pet owners, try to avoid renting apartments that contain carpeting.  Vinyl flooring is an affordable alternative and is extremely pet-friendly.  Because vinyl planks are pieced together by a waterproof sealant, pet urine and odors are less likely to be trapped in the floor, making clean up much easier.

Establish pet friendly areas on the property

Similar to parks and public areas, it is best to designate pet-friendly areas where dogs can play and do their business on site.  One of our My Place Realty properties has established a 4th Floor -”Woof Top Patio” for tenants and their family pets.  This is also a great way to encourage tenants to meet and get to know the other animal owners living at the same property. 

Conduct a pre-screening

By working with pet owners before they sign the lease, you can prevent most animal-related issues. Write terms that require pets with aggressive dispositions will not be permitted. Some landlords or property owners may only allow pets that are spayed or neutered or weigh less than 40 pounds. We recommend meeting the pet before the lease is signed.

Require a professional cleaning 

In the lease agreement with your tenant, be sure to require that a professional cleaning service will be completed to the rental upon move out.

Weigh out the pros and cons of allowing tenants with pets to sign a lease with your property.  Naturally, with pets come more responsibilities, but if you do your due diligence during the pre-screening process, the financial advantages are there as well.

Why Respect Should Be Your Number-One Mission In Business

So much goes into having a successful business. Hard work, passion, and staying ahead of trends are all important factors. But if there is one thing I have learned, having respect for your team and your clients rises above them all.

Respect is one of the core values at My Place Realty. We all strive to “caring and treating others with dignity and respect and value individual differences and contributions.” It sounds simple, but showing respect for every team member goes a long way towards a productive and happy workplace.

Let’s break that statement down. First, you have to be caring. That means treating your team members and others like people, not like numbers. People have feelings, people make mistakes, and you have to recognize that. Approach every situation like the person is your best friend.

Next, treat others with dignity and respect. Value every single person who you work with, no matter their role. Never treat anyone like they are “below” you. Everyone is worthy of your kindness, so avoid looking at people in a hierarchical way.

It’s also important to embrace people’s differences. Every member of your team will have different strengths, so play to them. Your team will be more productive and feel more satisfied because they are praised for what they are good at rather than cut down for their weaknesses.

In the same vein, don’t brush off anyone’s contributions, no matter how small. That is the easiest way to ensure that person will never voice their opinion again. Team members’ contributions will even out in the end. Because everyone has different things they are good at, some will shine during certain projects and others on other tasks.

In business, respect is for more than your team. Behaving respectfully with clients is essential. Building rapport with your community helps you earn the trust of potential customers. If you show you truly care about them and their distinct lifestyle, your business is sure to gain a good reputation.

One great way to build that trust is to volunteer in your community. It helps you build personal relationships with community members and show them that you aren’t just there for their business, but because you really care about their well-being. Some of my favorite charities to support are Lighthouse Mission, Manitoba Mutts and the Canadian Cancer Society.

My number-one way to show respect to everyone I work with is committing to transparent communication. Whether I’m speaking to a business contact or a member of my team, I always try my best to be open and honest with them. I celebrate my victories and own up to my mistakes. Active listening is also a big part of the process. This lets people I work with trust me, which is invaluable in business and in life.

Building a one-team mentality in the workplace

The most effective teams are able to work together seamlessly to successfully execute projects. Teams like these are often built around the same, positive attitude. In turn, it is up to the leadership of the organization to establish a work environment that helps cultivate a positive, constructive, one-team mentality.

With over 20 years of professional management experience, I’m proud to have helped develop effective teams for a range of companies I’ve worked at.

Building a one-team mentality, in my view, is also incredibly important to the success of My Place Realty.

Over the past several years, our teams at My Place Realty have developed strategies to promote better understanding and communication and, in short, to help achieve goals as a cohesive unit.

Here are some key tips to helping your staff build up their one-team perspective.

1. Understanding: Help your team share ideas and experiences to enhance their connection and trust. Team-building activities help members connect and cultivate understanding among each other.

2. Set goals: while it is primarily the responsibility of management to set goals for the company, when it comes to goal setting it is important that team members contribute ideas. This not only helps them feel appreciated, but it also gives them a sense of responsibility towards accomplishing the goals.

3. Incentives: have a plan to reward teams who work hard, contribute and produce quality work. Rather than offer members individual incentives, provide group rewards for productivity. This will help build a one-team mentality among members.

4. Collaboration: Assign team members work or duties that involve them working together. Any tasks that need to be carried out should be done in pairs or groups.

5. Be a team player: management and leadership should not consider themselves above working with their teams. Demonstrate the type of commitment and one-team mentality you would like to see in your employees. It is also crucial that each team member feels like they are able to approach leaders in the company. Welcome feedback from employees and act on any positive changes they recommend.

6. Independence: While management should stay in touch with teams, leaders should refrain from micro-managing projects. By giving members independence over how they develop the project together you will strengthen their one-team attitudes. If leaders allow teams to find their own collaboration techniques it will enhance their ability to work together.

Building a successful team mentality in a workplace can help create a positive atmosphere in any company. Creating an environment where feedback and the sharing of ideas are welcomed and developing relationships among members are promoted can help employees cultivate a one-team mentality.