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.
Did you know the average worker gets distracted on the job about once every 10 and a half minutes? This might not seem like a big deal….that is, until you realize that it takes an average of 23 minutes and 15 seconds to get back on task once an interruption occurs. That’s a lot of downtime during any given day.
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.
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.
Most companies already have the key C-Suite players in position – CEO, CFO and maybe even a CTO. What about the role of Chief Information Officer? Is it worth it? Many organizations put off hiring for this position until it’s absolutely necessary, but by then it’s often an uphill battle. The fact is, for the digital property management organization, the job of CIO can be of just as much importance as other senior managers. Still not convinced? Here are four reasons you may want to reconsider.
When choosing leaders for your property management firm, intelligence is a critical factor. It’s important to note, however, that there are a few different kinds of intelligence. For the sake of this article, we are referring to emotional intelligence, sometimes called EQ for short. Having leaders with strong EQ can improve the happiness and productivity of your employees, which can ultimately impact your company’s bottom line. Let’s take a closer look at exactly what emotional intelligence is, why it matters and four ways to spot leaders who have what it takes.
Successful companies solve problems. They do this by employing leaders who are capable of making smart decisions, coming up with innovative ideas and overcoming obstacles that are standing in their way. How skilled are you at problem-solving? Do you have what it takes to drive your property management business forward competitively? Are you doing enough to keep your employees, customers and stakeholders happy? If you could use a little help in this area, as many of us could, here are a few critical skills to focus on developing.
Is your property management team dangerously close to burnout? According to the Harvard Business Review, employees that regularly take breaks and time off have 30 percent more focus than their colleagues. Furthermore, workers who feel supported by their managers in this area are nearly 100 percent more loyal.
Like it or not, the world of work is changing. The property management office of tomorrow will be vastly different than what we know today. To prepare for these impending changes, companies of every size and industry must take the appropriate steps now to future-proof their businesses so that when the time comes, adaptability will be easier and less disruptive. That being said, here are five ways you can help keep your company ahead of the wave.