Boston Property Management: Help your tenants buy property
It’s a good idea for a Boston Property Management company to help tenants buy property. The reason why some tenants want to buy property is because they don’t want to rent anymore. However a number of them do not know how to buy property or they lack the confidence. It makes more sense for them because prospective owners might need property managers in the future. Some may assume that this is counter-intuitive but it actually benefits you in the long term. For starters you will end up getting a sale which is quite lucrative. Not only that but even if you don’t do the sale yourself, you can refer them to someone who will share the fee with you. The best thing is that if you do a good job, your tenants will refer you to family and friends.
How to get started
A number of first time buyers are not aware of how they can purchase property, get loans or the options in the marketplace. The key is to provide them with the right education so they can make the right choice. A good way is to market your services to your tenants who may be on the lookout for a property on the market. Let them know about the possibilities or at least try and encourage them to have a conversation with a mortgage broker so they can go ahead with their plans.
Tenants who want to own their property are often afraid of asking how they can grow their wealth via property. A good Boston Property Management company will be armed with all the information on how his tenants can grow their wealth via property. So it helps to educate them on the advantages of using property as an investment and how to build it over a period of time. The better advice you give, the more you will get clients via referrals.
The next step would be to get mortgage brokers, industry experts and financial planners together under one roof and market it as a seminar for your tenants. This will allow all potential buyers to look at everything at one place. The benefit is that this will also lead to more commissions and more prospects for you in the future. Overall it’s a win-win situation for everyone. People prefer going to events where they get everything under one roof.
We hope you liked our guide “ Boston Property Management: Help your tenants buy property”.