News Flash For Property Managers: See How SMS Messaging Saves You Money
Often people think SMS messaging costs a lot of money. Particularly when they plan on sending thousands of messages. So in this blog I want to walk through an example of how much money SMS messaging can actually save property managers and housing associations.
Our example association, XYZ Property, manages about 5,000 tenants. On average they have about 500 calls for repairs per month, and 25% of tenants forget about the scheduled repair appointment. So 125 times per month, the maintenance staff travel to the flat only to find the tenant isn’t available to let them in and they can’t complete their repair. Each trip they make costs you £25.
£125 x 25 = £3125
A little maths shows how much those no-show appointments cost you as the property manager. Every month you lose £3,125, and every year £37,500.
Now, let’s look at the cost of sending an SMS appointment reminder to those 500 tenants requesting a repair. Our current rate for a SMS message is 3.5p. Again a little maths:
3.5p x 500 = 1,750p = £17.50.
Notifying the tenants would cost £17.50. Assuming all tenants were then available for their appointment time, or perhaps rescheduled to a better time, XYZ Property would save £3,107.5 per month, or £37,290 per year!
SMS messaging can save thousands of pounds per year just in no-show repair appointments. Imagine if you used it to notify tenants just before their rent was due. This small reminder could reduce the number of arrears you have each month. You could do a similar exercise estimating how much it costs you to chase down each tenant in arrears, how much the SMS messages would cost, and how much you would save by sending SMS reminders of when rent is due. I bet you could save thousands again.
You could also use SMS messaging to contact prospective tenants when a property becomes available and thereby leave properties empty for less time. As well as bringing more rent this would cut down on admin time, especially if you use SMS to coordinate viewings.
Even small to moderate size property and housing associations can leverage SMS messaging easily and save significant amounts of time and money. So next time you hear someone say SMS messaging is too expensive, you can tell them it’s too expensive not to use it!
Related Articles
News Flash For Property Managers: See How SMS Messaging Saves You Money
Often people think SMS messaging costs a lot of money. Particularly when they plan on sending thousands of messages. So in this blog I want to walk through an example of how much money SMS messaging can actually save property managers and housing associations.
SMS Marketing for Estate Agents
In recent years, there has been a noticeable shift in the property market towards a new generation of estate agents who are leading a push away from the traditional high street model. With new generations entering the housing market and changing customer behaviours, estate agents are having to look for new ways to attract both buyers and sellers. SMS marketing is a low cost and highly effective tool which could help. In this article, we explore how estate agents can use SMS messaging to attract and engage with customers, helping to boost sales and increase revenue with a minimum of effort.
Estate Agents, Stay Ahead of The Real Estate Market with SMS Messaging
Estate agents can use SMS messaging to give themselves a real edge in the property business. Confirm appointments with viewers; update sellers on progress; provide property details by text to enquirers, every hour of every day, instantly. All great reasons for a seller to choose you over the competition.
How Letting Agents are Using SMS Messaging
Estate Agents: Sell More Properties with SMS Marketing
If you're an estate agent who isn't using SMS to increase their database of buyers and sellers, then you're an estate agent who isn't maximising their clients' phone numbers. A mobile number is something your purchasers and sellers are quite happy to share with you, and this voluntary opt-in can be invaluable when it comes to getting an edge in a competitive market. Using this information, you can create effective and affordable marketing campaigns, whether you’re alerting your clients to a change of price or promoting a particular property.
