Running a successful property management business involves projects, and lots of them. Without the proper structure and planning in place, however, these projects can easily end up negatively impacting your budget and your company as a whole. Good business practice requires that any and all projects be set up, monitored and managed properly so they don’t end up going off the rails. Here are four project management tips to help keep you on the right track from start to successful finish.
When it comes to running a successful property management business, there’s a lot to consider. For instance, there’s maximizing client experience, streamlining operations, managing staff, increasing revenues and more – all while keeping expenditure as low as possible. It’s a challenging feat, to say the least. Fortunately, technology can make things infinitely easier, enabling you to automate tasks, avoid errors and optimize your end-to-end processes for a more efficient business model.
Let’s face it. Hiring can be a challenge. That challenge is multiplied tenfold when it comes to hiring someone at the C-Suite level. The (sort of) good news is, it’s relatively easy to screw up when recruiting a VP of sales. The better news is that it’s happened so many times before, you can learn from the mistakes of others and avoid going down a similar path.
Running, managing or even just working at a property management business can be stressful. With so many different tasks to keep track of, deadlines looming and the pressures of such a competitive industry weighing on your shoulders, it can feel like a never-ending battle. To assess the current landscape, the folks at Unicom recently conducted a survey of 100 property managers. Here’s a rundown of what participants said their biggest challenges are today.
There’s a lot of talk about how we, as property managers, can help our clients. What we don’t talk about nearly enough is how our clients can actually help us. Customer feedback is necessary for healthy growth and it’s a reliable way to discover what’s working with your business (and more importantly - what isn’t).
These days, there are lots of different ways to interact with people, from Slack and texts to emails, calls and good old face-to-face. Regardless of your preferred method, however, in order for you to be effective, your communication skills must be strong. In fact, how well you communicate – either with your colleagues or your property management clients – can impact efficiency, trust and ultimately your future success. That being said, here are five essential communication skills everyone should master.
Leading a successful property management company is no easy feat. There are literally dozens if not hundreds of things on your to-do list and people in every direction vying for your attention. This can make finding the time to set and achieve goals seem next to impossible. The good news is, with the right approach, you can not only plan for success in the coming months, but absolutely crush your objectives in the process. Here’s the secret formula.
You probably already know that in order to maximize occupancy, you need to make your properties stand out. But coming up with marketing tactics that set you apart from all the other property management companies can be challenging. The good news is, thanks to an ever-increasing number of channels, there are more ways than ever to reach your audience. That means there are also a variety of different strategies you can take that will help catch the eye of your ideal tenants and reel them in.
We may already be well into 2019, but it’s never too late to start thinking about innovation. In fact, even if you haven’t had the time, energy or direction to create a business strategy yet, it’s entirely possible to do so - even this late in the year. And don’t worry – you’re certainly not alone. Many other property management company owners and leaders are finding themselves in the same boat. The good news is, you can right your ship today by focusing on the following three areas and some do’s and don’ts for each.
Some of the most valuable property management leads come from customers you’re already doing business with. And that’s not just something we’re pulling out of thin air. The numbers support it as well. Not only does a referred customer have a 16% higher lifetime value than a customer acquired through other avenues, but they can be acquired without having to spend a single dime on advertising or marketing. Of course, asking for referrals isn’t always easy. In fact, if it’s something that doesn’t come naturally to you, it can feel downright uncomfortable. Not if you have a plan, however. Let’s take a look at a few ways you can get more referrals without going too far out of your comfort zone.