The British public’s attitude to renting property has evolved, as 62 per cent view renting as a long-term living plan. Yet private rental prices paid by tenants inBritain are predicted to rise, having increased by 4.9 per cent in the last 12 months. As people choose to invest long term in rented accommodation, and prices continue to climb, it is no surprise that tenants are expecting a higher standard of living. This puts pressure on property management companies to maintain their properties and fix any problems as quickly and efficiently as possible.
50 per cent of British tenants reported problems with their property in 2015, such as broken furniture, and 35 per cent weren’t satisfied with the service they received from property management companies. During tenancy agreements, is it inevitable that items will sometimes need replacing or repairing, sometimes as a matter of urgency. In these circumstances property managers that put in place a reliable procurement service will be better placed to handle issues that require urgent action and maintain a high standard of service for the long term, ensuring a comfortable stay for tenants.
As the lettings market is incredibly competitive, a bad reputation could negatively impact on a company’s profit margins. By responding quickly to tenant’s complaints, property companies will create a positive reputation through word of mouth and will help to establish a trusting client base and generate new business leads.
Revolutionising the procurement process, Argos for Business’ Fast Track is a same day delivery and collection service, providing increased speed and efficiency to businesses and organisations. Corporate customers are now guaranteed same day delivery on many products straight to their premises on orders placed by 6pm, seven days a week. This is desirable for property management companies that need to replace items quickly, avoiding disruptions to tenants.
Property management companies often face problematic cash flow issues as they rely on the income of tenants to cover business costs and expenses, and late rent payments can create income shortfalls when unexpected costs occur. To ease the pressures of cash flow, the Argos Business Account offers four per cent discount on all orders, along with extended payment terms of up to 37 days. This convenient procurement solution helps ease the burden on property managers when emergency purchases are made.
The free account can be used as and when needed for everything from furniture and furnishings to electrical items and kitchen equipment, and allows managers access to over 50,000 Argos products in-store or online at argos.co.uk.
The added convenience of multiple cards on a single account allows several people to use the account, providing greater flexibility for purchasing replacement items. This should offer peace of mind to the property manager when they are off site, as they know that maintenance managers have the funds readily available to deal with a crisis, while centrally maintaining control of budgets.
Alleviating administrative burdens during day-to-day activity, the Argos Business Account provides property managers with a purchase order facility, combined with weekly electronic invoicing, with a choice of consolidated or individual invoicing to suit businesses’ payment processes. This makes for easier reconciliation of paperwork and means all orders can be fully accounted for and itemised.
Jacqui Glenn, director at Argos for Business, said: “With general wear and tear and additional damages to be expected when renting out property, having a simple, yet effective procurement solution in place can ease pressure points when unexpected expenditures happen. There is no minimum spend on the Argos Business Account so property managers can set up an account now and ensure they are well prepared for worst-case scenarios, avoiding disruptions to tenants. Companies that do this will stand to gain positive testimonials from tenants, generating future clients.”
