One of the keys to success in an industry that’s as fast-paced as commercial property management is staying abreast of the latest trends. Things evolve at a rapid rate, so the ability to shift gears and address the changing demands is essential to remaining competitive. To make things a little easier for you, we’ve done some of the legwork and uncovered four commercial property management trends that we think should be on your radar. Take a look below.
Staying relevant in the ever-changing property management industry means staying in tune with all the latest trends. For years now the role of technology in the world has evolved. Technology and innovation are embedded in society and business. Currently mobile technology serves a great advantage for property managers. Beyond offering a mobile friendly website, property managers can leverage mobile applications to streamline business operations.
A recent stat revealed that an incredible 93% of all online experiences begin with a search engine. Where your property management company ranks on those search engines can mean the difference between success and mediocrity. This is why search engine optimization (SEO) is so important. But what if you’re just starting out and have a limited budget to work with? The following SEO tricks are both simple and, more importantly, cheap to implement.
Is your property management company ready for the next step? Is growth consistently on your radar? Maybe you know it’s time to start expanding, but are unsure of which direction would make the most business sense. When it comes to growth, the options are many. To follow are five strategies that might help get you from where you are today to where you aim to be tomorrow.
Over the next 20 years, 3 out of every 4 homes will be broken into. And while as a property manager, you may not be responsible for replacing a tenant’s stolen belongings, you are expected to provide residents with a dwelling where they can feel safe. In fact, home security is an important factor for many when deciding on a rental property, which means investing in the safety of your residents could give you competitive advantage over other property management firms. Here’s how to do so without going broke.
One of the biggest challenges business executives face is predicting and preparing for what the future may hold. The property management industry is no exception to this rule. The good news is, we’ve already done a lot of the legwork on your behalf and uncovered a few of the top tech-related trends that we believe will disrupt the way property managers work in the not-so-distant future. Here’s what we can reasonably expect.
Did you know the average person receives 96 emails per day? Given that volume, it’s highly doubtful that all those messages are actually being read. In fact, many don’t even make it past the spam filter. Getting into your audience’s inbox isn’t enough to be successful with your email newsletter campaigns. It’s getting them to open your emails that matters most, and the best way to do so is to provide them with content that they actually want to read. Not sure where to start? Here are three ideas that should get the ball rolling.
Technically, you manage properties. In reality, you manage people. In other words, without customers to serve, residents to tend to and contractors to keep track of, there would be no need for you to manage properties at all. The property managers that understand this are the ones who really stand out from the competition. And a great way to capitalize on this is to leverage the tools at your disposal to engage with the people in your network. Let’s take a look at a few highly effective ways you can use social media to do just that.
Any savvy business professional knows that one of the keys to staying ahead is to keep a close eye on the competition. Even if you happen to be outpacing all the other property managers in your area, it’s still a wise idea to stay in tune with what they’re up to. Otherwise, you could find yourself lagging behind before you know it. Thankfully, technology has made this task much easier than it’s ever been before. Here are a few best practices for monitoring your competitors in the digital age.
They say imitation is the sincerest form of flattery, and when it comes to business, this has a particular ring of truth. Do you want to be innovative and groundbreaking? Of course. But that doesn’t mean you have to reinvent the wheel in every area of your business. In fact, figuring out what other successful property managers are already doing right can help you better position your own firm for similar success. To kick things off, we’ve rounded up three proven ways to be profitable in the property management industry.