Property management is a unique industry where we have two customers. Our owners want us to maintain their properties and bring in cash flow from their investments. Our residents want us to provide them with well-maintained homes and to do so at the lowest cost to them. By having contractual relationships with owners and residents, Five Star is tasked with the obligation to balance relationships with both sides professionally. Unfortunately, one side’s benefit is often perceived as the other side’s detriment. Even when we work to follow the contracts perfectly and be as fair and equitable as possible, people get upset. Usually residents are the most upset when receiving their security deposit statements. How can Five Star best manage these responsibilities in a way that improves our customer experience and our reputation?
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