The property management industry isn’t new, but that doesn’t mean there aren’t still plenty of fresh, new and breakthrough ideas to be shared. In fact, given the intense competition in our field, the ability to think outside the box, push the envelope and carve new pathways is what will ultimately place your company a step ahead of the rest. But if you want a business where innovation thrives, you must intentionally work to create the right environment. Here’s how.
When it comes to running a successful business operation, everyone knows that time is money. The property management industry is no exception. If your workers aren’t optimizing the use of their time, it could easily be hurting your bottom line. Over the years, we’ve shared plenty of advice for boosting productivity, but today we’re going to really get down to business with some science-backed strategies that have been proven to get good results.
As a busy property manager, you don’t have time to waste hours, days or weeks trying to research and compare the many options for property management software. What if there was a way that you could systematically and strategically pinpoint the precise solution you need without wasting valuable man hours in the process? Our goal at Netintegrity is to help others in the industry find ways to make their lives easier and their businesses more profitable. As such, we’ve put together a simple, 4 step process for choosing the best software for your needs (even if it’s not ours).
In a competitive industry such as property management, chasing after growth can seem like an impossible feat. But with the right approach, a positive outlook and a little bit of creativity, it’s entirely possible to expand and bring your property management company to the next tier. Here are a few smart strategies that will help you achieve your growth goals year over year.
Employee turnover is a fact of life. The truth is, sometimes, despite your best efforts, a top performing team member may eventually move on in pursuit of a better opportunity. Unfortunately, paying top dollar to replace them isn’t always an option. A more cost-effective way to manage staff turnover is to promote from within. The good news is that with the right approach, you can take mediocre workers and turn them into property management superstars. Here’s how.
Managing rental properties takes much more than finding good tenants and handling the occasional maintenance request. Perhaps most important is the task of managing your rental property management company’s cash flow, which can be pretty complex. To achieve this, your business must maintain excellent accounting processes that are in line with your company’s overarching objectives. Here are a few hacks that can make this monumental task a little bit more manageable.
Chances are your communication skills contributed to your climb up the corporate ladder, but now that you’ve officially carved out your own place within the property management C-Suite, you’ve got a whole new set of communication skills to master. Being successful at the executive level requires the ability to encourage open, honest dialogue, reduce confusion and conflict, facilitate collaboration and maintain transparency. The five tips below will help you develop the skills necessary to be highly effective in your role.
Think about all of the data your property management company collects, uses and stores. Now think for a moment about what would happen if an unauthorized party were to gain access to that data. Security breaches occur to businesses of every shape, size and industry, and they can cause much more than just a minor headache. In fact, some companies suffer so much financial and reputational damage, they can never recover. Here’s how can you avoid becoming the next victim.
If you attended business school, one thing you probably noticed once you got into the real world was that there are a lot of things they couldn’t teach you in a classroom. The reality is, great leaders possess certain soft skills that don’t come from a textbook. They come from real world experience and on-the-job lessons that build character and aid in the development of management best practices. Learning these lessons and gaining the unconventional wisdom that comes as a result can help you become a much more effective leader. That being said, here are a few tips that could be the difference-makers in your property management organization.
The goal of any business leader is to keep his or her team as happy, engaged and focused as possible. Unfortunately, there are inevitably going to be times in which one or more employees strays down the path of dissatisfaction and unhappiness. If you’ve got a couple bad apples currently working in your property management company, here are some expert tips for dealing with the situation in a positive, productive way.