Most property management firms I have worked with want to grow by pitching to manage larger or more challenging blocks than they have managed before. The ability of RMCs to take a leap of faith in hiring a new property manager will depend in part on the quality of a proposal tender. If you want to manage a thousand-unit estate, but your current largest client is only 500 units, you will need to work hard to convince the prospect.
Most proposals for property management services cover similar ground, including services offered, frequency of site visits, client portals, section 20 major works, etc. Your template document may be in the form of a PDF, PowerPoint presentation, Word document, or Google Doc, and may contain up to 60-80% of the content of every tender you send out. However, it is essential to ensure that there are no spelling, grammar, or typographical errors, and everything is clear. While each RMC might consider itself unique, with special concerns never before experienced, its needs are often very similar to other blocks or estates.
Using template tenders as a property management marketing tool can be very helpful in such situations as you can use a proven and converting document as the basis for your pitch. This doesn’t mean one template fits all. Below are three suggestions when creating this template system.
Create several templates
I recommend that you have at least four proposal templates for your business plan unless you are targeting a very specific type of customer. These templates should address the common concerns of your potential clients, such as non-payment of ground rent, parking issues, or managing multiple blocks or mixed estates.
You can make subtle changes to these templates, such as emphasizing different areas of previous experience or showcasing different aspects of a case study (see below), depending on the specific needs of each client. Some RMCs may tell you what their areas of concern are in their RFP. For some, you may need to work out what their burning issues are by looking at the top of their bullet point list. Alternatively, they may throw in a left-field requirement at the bottom of the RFP document.
Each proposal template should reflect the main concerns and issues of the client, and highlight how your services can address these needs. If the client has had previous issues with financial irregularities or poor maintenance, for example, it may be beneficial to rearrange your template to showcase how your services can specifically address these issues. The goal is to present yourself as the perfect solution to the client’s specific problems, rather than a general solution to general management needs.
Repurpose case studies
If a current client allows you to write a case study about their property, it is a great opportunity to differentiate yourself in your marketing. However, I see a lot of managing agents who just write one bland case study about their client and leave it at that. Each property can offer a variety of experiences to be rewritten according to the particular concerns of a new lead or prospect
You may manage a Grade II listed property that contains 750 units. If you are pitching for another 750-unit estate then your case study will focus on size and volume. If you’re pitching for a Grade II listed property, rewrite the case study to focus on the specific demands of period properties. It does not take a lot of rewriting to change the focus of a case study and it is worth it. You should not be requiring leads or prospects to hunt through your tender proposal looking for meaning or relevancy to their situation.
Do the research once
It’s worth sitting down with your new business team to work out which metrics are reliable and relevant across your templates and ideal customers.
Metrics such as your effectiveness in collecting ground rent, answering calls within a certain timeframe, successful legal action, and portfolio size can be used time and time again.
Graphics such as Venn diagrams pie charts and graphs will help illustrate your relevancy to the proposal. And whilst the graphics may stay the same, you can always rewrite the captions for relevancy too.
If you feel that your new business proposals need improving, complete the form below and we’ll start a conversation.