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.
There comes a time for many business owners when they have to decide whether to keep their business or sell it to the highest bidder. Whether you’re nearing retirement and don’t have an heir to take over, you’ve lost your passion for property management, or you’ve just reached the point where selling makes the most sense, there are certain best practices that can help make the process smoother and less stressful. Let’s take a look at five of those steps below.
Disjointed experiences, difficult-to-manage technology and choppy, outdated processes impact more than just your in-house property management team. The delays, frustrations and bottlenecks they cause can also impact client satisfaction rates, which will ultimately affect your company’s bottom line. Identifying these performance inhibitors and implementing necessary workflow changes can help to skyrocket productivity, and technology can play a pivotal role. Here’s how.
Ever wonder how some people always seem to come up with great ideas? The thing that almost always sets these individuals apart is the way they manage their time and stress, both of which can stand in the way of creativity. Specifically, they divert at least some of their time and energy away from focused thinking. The truth is, being hyper-focused may be great for productivity, but it’s terrible for creativity. And since creativity breeds innovation, which is critical to your property management company’s ongoing success, fostering this skill is essential.
One of the most important tasks of being a leader is making decisions. On any given day, you may be faced with dozens of different choices, many of which will inevitably have a significant impact on your property management company and those who work within it. The more decisions you make – especially the big ones – the more you may feel your energy being tapped. This is a common situation known as decision fatigue, and it can be downright exhausting. If you’re struggling with this, here’s how to boost your willpower and overcome decision fatigue once and for all.
There comes a time in every landlord or property manager’s career when raising rental rates becomes necessary. Whether it’s due to the going market, higher taxes or insurance costs, rising expenses for property upkeep or something else, increasing the rent can be an uncomfortable task. Especially if you’re concerned that doing so may drive good tenants away. With the right approach, however, this process can be a smooth, positive and uneventful one. Here are a few expert tips to keep in mind.
Let’s be honest. When it comes to the property management industry, there are plenty of fish in the sea. Your brand is what will set you apart from the ocean of other options your clients have, which is why it’s so important. Otherwise, you’ll just get lost in the shuffle and your business will suffer as a result. But what, exactly, is branding and why does it matter? More importantly, why is it so critical that your brand remain consistent? If you’re looking for answers to these questions, read on.
When you first entered this field, you probably didn’t realize that one of the most challenging tasks property managers face is getting new clients. And while we still stand by our opinion that keeping your existing book of business happy is the most important thing, if you’re just starting out or you’re looking to grow, acquisition is a must. Let’s take a look at a few steps you can follow to develop and launch a successful lead generating direct mail campaign.
When it comes to business growth, using just one marketing strategy won’t cut it. If you put all of your marketing eggs into one basket, you’ll end up only reaching the same prospects over and over again. This leaves a significant portion of the market untapped. Despite the fierce competition in the property management industry, the fact is, there are still plenty of golden opportunities to be had. It’s really just a matter of figuring out how to reach them. That said, let’s take a look at three simple but highly effective strategies that will help you land new business, expand and grow.
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.