In 2017, Forbes reported that the property management industry had reached a value of $73 billion. Are you getting a big enough piece of that pie, or is there room for improvement? If your business is not experiencing the steady growth it’s capable of, you’re most certainly leaving money on the table. Let’s take a look at five things that might be holding you back and how you can overcome them for better success.
Without question, one of the biggest expenses in property management is the cost of maintenance. While it’s never a good idea to cut corners or skimp on these requests, there are certain things you can do on the up-and-up that will keep these costs to a minimum. If your business could stand to save a few bucks in the area of property maintenance, give the following four expert tips a try.
Oftentimes the best way to learn how to do something is to watch someone else who has already mastered it. Social media is no different. Rather than try and reinvent the wheel, it can be much easier and more effective to learn what others are doing right and wrong so you can adjust your approach accordingly. Whether you’re just starting out with social media or you’ve been doing it for years, here are a few property management companies that are killing it on social media.
Working in the property management industry requires wearing many hats and juggling a broad spectrum of duties. Such a chaotic work environment can easily lead property managers to crash and burn. This isn’t good for anyone – not your employees, not their colleagues and certainly not your company. The good news is, there are certain things you can do to stay a step ahead and prevent property manager burnout from occurring in the first place. Let’s take a look.
Recent stats indicate that 77% of the US population owns smartphones. Like it or not, the vast majority of your customers are living a mobile lifestyle. As such, property managers must leverage mobile-friendly techniques in order to meet their audience where they are and serve them as they prefer. The good news is, adopting a mobile-first strategy isn’t as difficult as you may think. Let’s take a look.
Being an effective leader is something that just comes naturally to some. Others have to work at it. The good news is, if you happen to have any of the five personality traits below, you may have some good material to work with. Let’s take a look at what key characteristics some of today’s top executive leaders possess and how you can hone your own traits to improve your own performance as well as that of your property management company.
It’s no secret that the economy is a fickle thing. One year you may be raking in the profits, the next you could be struggling to keep the lights on. While there’s no way to prevent economic downturn, there are things you can do proactively to ensure that if and when the market starts to go south, your property management company will be well prepared to ride out the storm. Here are a few tips for protecting your business so you’ll not only survive, but even thrive despite the grim market conditions.
There are plenty of property management companies on the market today, most of which offer cookie-cutter services. The thing that will differentiate your firm from all the rest is how you treat your clients. Exceptional service isn’t just nice to have. It’s critical to your future success. So how can you know whether your company stacks up? Here are five essential metrics that will help you measure and improve client service performance.
Just because you’re passionate about your property management company and care about your team doesn’t mean you’re leading them in the best possible way. Many well-meaning leaders exhibit toxic management behaviors without even realizing it.
When the topic of technological advancement arises, commercial property management isn’t typically the first thing that comes to mind. Slowly, but surely, however that is changing. In fact, more and more property managers are turning to automated processes and streamlined systems to improve operations and their bottom line. Let’s take a closer look at several ways, both large and small, that commercial property management firms are leveraging technology to their advantage.