These days, more and more organizations across just about every industry are leveraging automation technology to streamline operations, cut costs and maximize productivity. Automating manual tasks is a fast and straightforward way to achieve these goals, and it’s something that can deliver specific benefits to the property management industry. If your company has not yet implemented automation, here are five advantages that might convince you it’s time to take the plunge.
A lot of weight is being placed on marketing properties and property management services to millennials, and for good reason. These young up-and-comers are in the process of taking over the marketplace. But that doesn’t mean you should give up on the older generation. To the contrary, many Baby Boomers are at a transitional stage in their life when renting property is the ideal option. That said, here are a few ways you can better reach, connect with and market to this demographic.
When the folks at Oracle asked leaders of some of the fastest growing companies what they felt the biggest obstacle to business expansion was, the top answer was inability to manage fast growth. The ability to scale came in at a close second. Thankfully, these things can be overcome. The key is the ability to recognize when a business is ready to take that next step so that the inevitable twists and turns can be accounted and prepared for in advance. That being said, here are five signals that your property management business may be on the path to growth sooner than you think.
As a property manager, one of your biggest tasks is keeping your properties at capacity. To do this, you must find a way to attract quality tenants who are likely to stay for a long time, thereby improving cash flow and reducing turnover. All of this begins with your property listings. How can you make your rental listings more attractive so they stand out from all the others and draw in those quality applicants? Easy. Just show them your properties have something the others don’t. Here are five smoking hot amenities that tenants are looking for today.
There are a number of reasons why a business might choose to use Excel for functions like accounting, reporting and even CRM. Many of those reasons may very well have been valid, at least initially. After all, Excel is certainly user friendly and most definitely much cheaper than purchasing dedicated software. Unfortunately, the negatives almost always far outweigh the benefits. In fact, using this program may actually be placing your property management company in harm’s way.
Given the saturation of the property management industry, it’s critical to stay on top of how your company is performing in comparison to your peers. The most effective way to do this is by tracking your key performance indicators (KPIs). But with so much data to weigh how can you know which factors are most important to keep track of? To make it easier, we’ve done a bit of legwork on your behalf. To follow are five essential metrics that will help you measure your property management company’s success.
Did you know that 92 percent of today’s consumers say they trust referrals from someone they know? Furthermore, 77 percent of them say they are more likely to buy a product (or pay for a service) when it is recommended by a friend or family member. Simply put, the numbers don’t lie. From a business perspective, word-of-mouth marketing is gold. So how can you get more people buzzing about your property management services? Check these ideas out.
Average leaders come to work every day, perform their job duties and are content with the status quo. Disruptive leaders, on the other hand, are much bolder. They press the envelope, push boundaries and regularly spend time outside their own comfort zone. As a result, these leaders tend to generate positive change, innovation and growth. The good news is, you can achieve these results too, even if it doesn’t necessarily come natural by adopting a disruptive mindset. Here are five tips for making disruption work for the good of your property management company.
Growing your property management company is likely one of your top objectives, but how? And more importantly, what’s the best way to achieve not only steady growth, but rapid increase. This can be particularly challenging in areas where competition is fierce. There are, however, a few secrets that can help position your organization as a clear front-runner where sustainable growth is part of the culture. If you’re looking for these kinds of results, here are four key areas to focus on.
When it comes to asking the right questions, many business leaders make the mistake of focusing only on two times in an employee’s tenure – the recruiting stage and the exit interview. Top managers, on the other hand, recognize that today’s employees have a plethora of options and opportunities available to them. As such, they regularly probe to track employee satisfaction and keep morale as high as possible, thus reducing the chance of turnover. If you’re looking for a way to retain the best of the best for your property management company, here are three critical questions to ask.