The term property management may seem simple, but it encompasses a vast number of duties and requires a variety of skills and expertise. In order to be successful, property managers must wear many hats, handling everything from customer service and maintenance requests to inspections, collections, legal disputes, emergencies and more. Considering these hefty demands, it’s easy to see why those in the industry strive to optimize their business practices as much as possible.
It may seem pretty straightforward, but making sure your property management company has more money coming in than going out is the fundamental foundation for success. As simple a concept as this may seem, however, it’s often easier said than done – especially when it comes to newer companies. Keeping tabs on income and expenses is the key to ensuring your business has the resources it needs to grow. That said, here are three specific tips for managing cashflow and reaching your goals.
As a business leader, one of your most important tasks is keeping those who report to you happy, engaged and plugged in. But motivating employees who have different backgrounds, personalities, skillsets and struggles can be quite the challenge. Thankfully there are a few tried and true strategies that can typically be applied to any situation. Here are five proven methods for motivating everyone on your property management team.
Just a few short weeks into the New Year, you may still be in the process of defining and setting your goals for the coming months. With a stronger economy and much optimism for the future, most property management organizations are striving toward becoming more profitable.
Every modern property manager who has been in the business for some time knows that online reviews are par for the course. These days, people turn to the internet for just about everything – including sharing their experiences with businesses, good or bad.
Did you know that only 13 percent of employees worldwide say they are engaged at work? That’s a real problem, especially considering that highly engaged organizations see an average of 10 percent higher customer satisfaction ratings and 20 percent higher sales. In other words, how engaged your workforce is can have a direct and powerful impact on your property management company’s bottom line. To prevent your firm from becoming another statistic, here are five things you can start doing today that will help keep your team engaged and loyal.
Being in the service industry can sometimes make social media marketing more challenging. After all, it’s not a shiny product you’re trying to sell, but rather your superior ability to manage properties. The good news is, with the right strategy, even a property management company can kill it on social media. Here are a few pointers for building your brand and successfully leveraging your social status to attract, engage and convert more leads.
Most property managers know that the secret to success lies not in sitting behind a desk all day, but rather hitting the pavement and making their presence known with clients and tenants. Being out in the field used to be challenging, but thanks to today’s technology, it’s now possible for entire companies to be run remotely. Whether you’re looking to transition your entire office from physical to virtual or just need some help juggling a handful of remote employees, here are a few secrets to a smooth operation.
In the property management business, marketing online isn’t just about reaching as many prospects as possible, but about targeting those leads that are both qualified and local. As such, it’s important that you pay close attention to how you are optimizing your online activities so that you are effectively targeting those local leads with the ultimate goal of converting them into paying customers. Here are a few more reasons why local SEO should be a critical part of your overall marketing strategy.
What’s the most powerful way to get your property management brand noticed? The answer is referral marketing, also known as word-of-mouth. The fact is, people trust recommendations from other individuals – even strangers – much more than they do ads or other marketing campaigns. To that end, a good portion of your marketing strategy should be to generate an authentic buzz around your brand and services. But how, exactly, does one do that? Here are a few tips to point you in the right direction.