As a property manager, how does your team prep for the next owner pitch? Between market and financial analyses, marketing plans, demographic studies and more, there is a ton of information to work through and prioritize to perfect your proposal. But at the end of the day, what are multifamily investors and owners really looking for in a property management partner?

Three leaders from some of Wall Street’s largest owners of multifamily rentals shed some light on that topic during Zillow Group Multifamily Forum 2017.

Whether you’re a third-party manager or an owner, here are five tips from the experts about how to wow an owner during your next new business pitch.

1. Understand your “ultimate client”

Many multifamily rental owners are institutional investors — large banks, life insurance companies or pension funds, for example. These owners are often invested in multifamily real estate to drive returns for the recipients of pension funds or retirement funds.

While property management firms are typically charged with enhancing the value of the property, it’s not just to benefit the owners — it’s to benefit their investors, too.  So, the “ultimate client” of a property management firm, according to Allina Boohoff, managing director at J.P. Morgan Asset Management, Global Real Assets, is the retired teacher or firefighter — the everyday people who receive their statement in the mail at the end of each month.

2. Think like an owner

Property management firms are responsible for large assets — sometimes worth well over $100 million. With this in mind, Andrea Rothstein, executive director of UBS Asset Management, Real Estate & Private Markets, considers property management firms to be like the COO of the property. She suggests that you “think like an owner.” During a pitch, showcase how you’ll care for the property and its residents and how you’ll increase its value over time.

3. Know your renters and your potential renters

When pitching an investor, it’s important to remember that they are not the only client. Demonstrating that you understand your renters and how to attract potential renters shows owners that you also understand the inherent value of the rentals in your community.

Understanding your renter extends far beyond how you market to them — it’s also about how you treat your current residents, which is proven out with retention rates.

The amenities race has been raging for some time, but now a services race is underway. Mike Schwaab, senior director at TH Real Estate, underlines the importance of training staff so that they can provide the best possible experience for the customer, from both the front of the house and the back.

4. Foster relationships with local vendors

Even though your company might be well-known nationally, you also need a strong local presence. Property managers and staff with boots on the ground in their surrounding community and relationships with vendors have an advantage.

Being at the top of the list of local brokers helping their clients find a place to live makes filling vacancies that much easier. Moving to the top of your landscaping firm’s list for seasonal maintenance to ensure your grounds look their best for your current and potential renters shows you really know how to take care of your community.

Details like this will help retain current tenants, and potential renters will be impressed, both of which are great for your — and your investors' — bottom line.

5. Expect change and react quickly

Though change can be difficult to navigate with a large community to manage, the truth is there are various changes taking place that influence the rental market. A property manager’s reaction to change is something that investors watch for in a potential investment. If you can respond to change by doing things differently, there’s a big advantage to the investment overall.

Change comes in many forms, but technology is currently at the forefront. Embracing tools that can make you and your staff more efficient, like automated lease signing, or add value for tenants, like installing app-activated lockers for package delivery, is a key indicator of your ability to respond to changes in the market and renter demographic.

Even though technology improves efficiency, it’s not a way to cut back on staff. By streamlining some tasks, you can free up time for other enhancements. For example, rather than administering appointments for signing a lease, you can create a training for your staff to help them provide world-class service.