What techniques should mgrs., coop/condo boards and owners use to communicate with their tenants?

May 25, 2010 - Front Section

Carmelo Milio, Milio Realty Corp.

Have you ever asked yourself, "Why don't my residents comply with the rules and regulations of the property or how do I keep my residents informed of up and coming events?" In this article, I will briefly discuss a few communication techniques that will help managers, coop/condo boards and owners communicate with residents and help answer these two questions. Successful communication can ultimately lead to better collections, compliance with rules and more efficient management.
Communication is the most important element in the success or failure of your day-to-day operations as a professional manager. The first step to successful communication is to understand the needs of each property and ensure that your actions will be in accordance with the community's best interests.
There are many types of streams of communications that could be utilized to ensure more efficient property management. My favorite ways to reach out to my residents are newsletters, monthly postings on billing statements, and websites. These are effective communication tools that can inform residents of up and coming events, community rules and regulations and managements contact information. A professional association manager can assist the board of directors in developing and using these powerful communication aids.
Newsletters & Monthly Notices
What type of newsletter is right for your community? This medium for conveying association information should always be a source of pride for the community. Its format, style, and appearance play an important role in communicating the association's message. Each community has different ideas about its newsletter. Consider each view's merits when deciding on the type of newsletter. Our management team creates a newsletter that is customized for every property we manage and includes topics of interests for the community, changes in the rules and regulations and up and coming events. Most of our newsletters are distributed quarterly to all our residents.
To keep our residents informed on a monthly basis, we input notes on the monthly billing statements. This allows us to reach the residents every month and informs them of important dates during the month such as exterminator visits, rent due dates and rubbish pick up. Milio Realty Corp. also distributes a monthly real estate newsletter by email to all our associates. Our monthly newsletter is designed to inform everyone of news within the real estate industry and within our company. To read our latest newsletter, please log onto www.miliorealtycorp.com.
Websites
There are many benefits of a website. The manager and board of directors should recognize the benefits of the interactive association website. It makes sharing information easy. After all, isn't that what an association needs to do to create a sense of community and unify the residents? Posting the rules and regulations online can reduce noncompliance by eliminating the excuse that members were not informed. Additionally, professional management has the option of providing forms and community documents online rather than making members wait for such items to be mailed. As we all know, technology is a great asset but we must also be careful about what is decided to be placed online. Managers are hired for their effective communication skills, advisory abilities, and problem-solving techniques. The manager must gauge the association's sensitivity to certain issues and determine the appropriate material to be placed on their website. Our website, www.miliorealtycorp.com, has been created as a more informative site for our associates and residents. It offers our company information, rental availability, a property search engine and a listing form for any coop/condo owners that are looking to market their unit.
Effective communication promotes informed decision making on the part of residents and directors because they are provided with the information they need to make decisions. As discussed above, newsletters, monthly notices and websites can promote enthusiasm and caring within the community. Our company, Milio Realty Corp., is a N.Y.-based real estate company which specializes in property management, investments and sales. Our company has thrived through the years on the concept of loyalty and honesty with all our owners and business associates.
For a free analysis of your communities operations and communication techniques please feel free to email us at info@miliorealtycorp.com.
Carmelo Milio is the president of Milio Realty Corp., Yonkers, N.Y.