Property managers that handle community associations (HOAs, COAs and Co-ops) often end up feeling as if they’re nothing more than the middleman. For example, owners may come to you to report certain maintenance issues, which you must then turn around and report to the board. The board may then advise you to contact maintenance workers and arrange for their services. Upon resolution, it’s up to you yet again to communicate that plan back to the owners.
Ever have one of those days where you just wished there was an extra hour (or three)? We’ve all been there. And in the property management industry in particular, time management is a challenge. It’s easy to become overwhelmed and either procrastinate or drop the ball completely, neither of which are good for business. The good news is, it’s never too late to learn how to better manage your time. The following tips should eliminate the time crunch stress and make you more productive in the process.
But since creating an app requires a pretty significant investment of time and money, doing so just for the heck of it may not be worth it. If you’re on the fence about whether your firm needs an app of its own, here are a few points that may make the decision a bit easier.
How prepared is your property management company for tax time? It’s important, because just one single error could cause infinite and costly headaches down the road. This, coupled with the fact that others are relying on you for timely, accurate records, and this time of year can seem like a nightmare to some. The good news is, with the right strategy, you should be able to get organized enough to make tax season a smooth, stress-free experience for everyone. Here are a few expert tips to get you started.
Using email is a no-brainer for most property management C-Suite executives. Problems come into play, however, when it comes to wording those emails so that they deliver the right message in the right tone and effectively get the point across.
As a property manager, maintenance requests are part of daily life. Even the best-kept property will inevitably require some type of attention from time to time, whether it’s a routine service call or an unexpected repair. Having a plan in advance for how you will handle these requests can minimize stress, move things along more efficiently and ensure that your tenants stay happy and loyal. If you haven’t yet done so, here’s a simple strategy to make the property maintenance process a breeze.
Given the hectic nature of the property management industry, marketing often takes a back seat to the dozens of other pressing needs that have to be addressed on a day to day basis. But if you’re not focusing on this area, it’s highly likely that you’re missing out on opportunities to achieve additional growth. Thankfully there are a few proven marketing strategies that are easy, painless and won’t take you away from your other important duties as a property manager.
Growing your property management business successfully involves strategic scaling. Try to adapt too quickly and you could end up back where you started, or worse. Evolve too cautiously and you could easily miss out on the opportunities that are ahead of you. So, what’s the secret? How can you scale your property management company in a way that is well-timed and profitable? Here are a few steps to help get you on the right track.
Ever wonder why Apple is so successful? How they continue to outpace themselves in sales, quarter after quarter, year after year? It’s not just that they’re producing great products, though they are. The real reason behind Apple’s continuing success is the relationship the company has built with its fiercely loyal customer base. It’s why people line up and wait for days to get the latest product release, or why they swear they’ll never own another brand of computer or smartphone. This same approach to customer retention can be leveraged for your property management company as well. Here’s how.
The main goal of most property management companies today is to grow and increase revenue year over year. Achieving this requires an “all hands on deck” approach, through which every employee must give it their all. But working efficiently doesn’t necessarily come naturally to everyone. In fact, developing a workplace efficiency plan and training your team is just as important as hiring well and adopting the right technologies. So, how can you boost your team’s productivity without creating a stressful environment in the process? Give the following tips a try.