Without question, the commercial property management field is a demanding one. Between the countless rules and regulations that govern the day-to-day activities, the growing pressures of demanding clients and, of course, all the busy work that makes up an average day in the life of a commercial property manager, there’s barely room to breathe.
Millennials are officially the largest living generation, which makes them a prime target for property managers. One of the most effective ways to connect with them is by appealing to their digital nativity. This generation of young adults grew up on the internet. They are practically glued to their mobile phones and spend an incredible amount of time on social media.
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.
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.
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.
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.
Property managers that handle community associations (HOAs, COAs and Co-ops) often end up feeling as if they’re nothing more than the middleman. For example, owners may come to you to report certain maintenance issues, which you must then turn around and report to the board. The board may then advise you to contact maintenance workers and arrange for their services. Upon resolution, it’s up to you yet again to communicate that plan back to the owners.
But since creating an app requires a pretty significant investment of time and money, doing so just for the heck of it may not be worth it. If you’re on the fence about whether your firm needs an app of its own, here are a few points that may make the decision a bit easier.
How prepared is your property management company for tax time? It’s important, because just one single error could cause infinite and costly headaches down the road. This, coupled with the fact that others are relying on you for timely, accurate records, and this time of year can seem like a nightmare to some. The good news is, with the right strategy, you should be able to get organized enough to make tax season a smooth, stress-free experience for everyone. Here are a few expert tips to get you started.
Using email is a no-brainer for most property management C-Suite executives. Problems come into play, however, when it comes to wording those emails so that they deliver the right message in the right tone and effectively get the point across.