Attention property managers! Fall is here.
Climbing the corporate ladder is great, but it comes with a lot more responsibility. And as your plate becomes fuller, so does the risk that you’re going to eventually burn yourself out. Burnout is something almost every business owner or executive experiences at some point in their career, and property managers are no exception. The good news is, this can all be avoided. The key is being able to identify the signs before things get out of hand. Here are three things you need to watch for and what you can do to get back on track.
In a perfect world, homeowners associations would be relatively silent entities. Dues would be collected, projects would be planned and carried out, things would work effortlessly and neighbors would all get along. Of course, as any seasoned HOA manager knows, we don’t live in a perfect world and these associations are rarely “seen but not heard.” Knowing some of the most common complaints launched from these groups can help make it easier to resolve and sometimes even prevent them altogether. Let’s take a look at five of the biggest HOA complaints below.
Ongoing staff education is the lifeblood of any business, particularly in a competitive industry such as property management. The acquisition of new knowledge and skills makes your employees an even more valuable asset and can help position your firm as an industry front-runner. One of the most effective ways to help your team learn and grow is through social engagement. Here are five ways to integrate social into your training strategy.
It’s that time of year again – hurricane season. For property managers, this can be a particularly nerve-wracking time filled with worry over whether your properties will make it through without any costly damages. Taking proactive measures to prepare your properties can help protect the owners’ investment and keep residents and their belongings safe and sound. If any of the properties you manage happen to be located in an area where hurricanes may occur, here are a few tips to keep in mind.
According to recent data, 68% of American households are home to at least one pet. It’s no wonder, then, that the question of whether to allow pets is one of the biggest weighing on the minds of landlords and property managers. If you are among them, here are a few things to consider that might help you make a more informed decision, along with some best practices should you decide to make your properties pet-friendly.
Over the past five years, the property management industry has grown by 0.8% to reach revenue of $76 billion – and that’s just in the U.S. alone. It’s abundantly clear that there is plenty of opportunity for success and growth in this field.
Do you know how much revenue you’ve lost over the years due to tenant turnover? It’s a common and very costly problem for property managers. Rental vacancies can impede cash flow, increase workload and ultimately impact your bottom line. And it’s an especially important issue to address before the housing boom begins to wane. To help you get a plan in place now and hedge your bets for a more secure future, here are eight ways to improve tenant retention.
In today’s job market, not only is it difficult to find good employees, but it’s equally challenging to keep them. Modern workers are confident, aren’t afraid to ask for what they want and won’t think twice about moving on to greener pastures if another opportunity presents itself. As such, you may find yourself focusing more on staffing your property management company than you ever have before. To improve the chances of attracting, hiring and retaining top talent, here are a few things to keep in mind.
For property managers, keeping up with the status of your rental properties is essential. Drop the ball and you could potentially miss serious and costly problems that could otherwise have been prevented. On the other hand, if you overdo it with property inspections, it could have a negative impact on the relationship with your residents, which could lead to higher turnover. So, what’s the best approach?