Tag Archives: real estate agency

Tallinn apartment rental for 6

Communication tips for an apartment rental company (20 years of experience)

The communication layer depends a little bit on the size of the company and is very important.

1 Family business size where you manage 5-10 apartments and work together with your spouse/partner/friend etc. If you discuss all the matters that happened during the day in the evening most likely all are in the loop so no need to worry.

2 Any operation which involves more than 2 workers and 10 apartments. You have to ensure that all have the information and whenever another shift comes to work they have all the information concerning promises given to clients, and issues in the apartments which come through the cleaning personnel and client information. The ideal situation is when both client information and cleaning feedback from the cleaning checklists comes to one place and can be reacted upon swiftly.

The must haves:

Cleaners check-lists in real time and with multimedia

Central communication platform which brings together all the information from different channels in one place.

Communication with property owners. If you manage properties for owners you have to keep them in the loop both about the sales and what happens within the apartment (things that need fixing or upgrade etc.)

Public relations within your community and neighbors (be friendly and react swiftly to misbehaving clients who do not respect silent hours in the evening) this is important both for your business and the image of the apartment rental industry globally.

Quality control communication layer. Congregate feedback from client feedback about cleaning and appliances. You have to have a system to check the cleaning quality in real time and give instant feedback to the cleaning personnel before the client arrives, this will ensure high satisfaction rate both with your clients and your cleaning people and you will have a mechanism to filter out the “bad apples”. The most useful feedback for the cleaning is straight after the cleaner has finished where he/she can see the areas which need to be improved. Be friendly, do not attack the person explain then improve then forget and go forward.

 

What you need to know about the real estate brokerage services in Tallinn, Estonia .

There is a simple answer Estonia is a small country and Tallinn is a minute capital so the real estate market is small. The real estate experience is also limited to less than 20 years of independence and only one real estate market crash (2008-2009):

If you would like to rent or sell your property you will contact a real estate company who will provide you with a real estate agent. How has the service worked so far:

Real estate agent gets between 50 and 70 % of the total brokerage fee and the rest goes to the real estate company. The brokerage fee for property sale is between 2-4 % the brokerage fee for finding a tenant is equal to a 1-month rental fee. For that price the agent will:

  • Post your advert to the 2 main websites in Estonia City24 and kv.ee
  • Maybe they will make professional photos or make some good ones themselves
  • Show your property to some potential clients
  • all real estate agencies will tell you that they have a waiting list of potential buyers but the will buy below market prices if they exist at all

That is it. They might have some contract samples, but they most likely are outdated and not compliant with the latest changes in the law.

Why ?

Little competition and a growing market. The demand has been greater than the real estate offerings on the market. In recent years global franchises as Remax have flourished in Tallinn but that has not pushed the prices down but given a better leverage against the real estate companies in favor of the real estate agents.

Some of the real estate agents will be inclined to offer you a quick cash offer below market price and resell the property for a big profit.

Property staging and decoration for sale is in its infancy. The real estate agencies rely more on real estate development projects where they build and sell new buildings than on the real estate brokerage service.

What is the future of real estate brokerage service in Tallinn?

Global real estate franchises like ReMax have entered the market and as the competition gets tougher the biggest and most efficient companies will increase the quality of service. Big corporations as AirBnB will get a bigger share of the most lucrative medium term tenant finding market (1-4 months) .

Best apartments PLC is the most innovative company in the real estate market in Tallinn which combines the most profitable parts: short-term rental + medium term rental. We strive for quality for our renter and profitability for our owners.

Our brokerage service includes a thorough cleaning of your property professional photos by the best real estate photographer and professional representation.