From a career standpoint, compromise is something that one must become comfortable with, particularly in leadership roles. Whether it’s negotiating a new contract with a vendor, discussing a potential new business venture, resolving a complaint or trying to reach an important business decision, mastering the art of compromise is key. Here’s how to do so effectively without giving up too much or putting your property management company in a bad position.
Look around the internet or just listen to other executives talk and you’ll undoubtedly discover plenty of reasons not to hire Millennials. They’re lazy. They’re entitled. They’re spoiled and short-sighted. But while it’s true that some individuals from Gen-Y certainly fit those descriptions, the reality is far less negative. In fact, there are more positives to hiring workers from this younger generation than there are legitimate downsides. If you’re still not convinced, here are four reasons hiring bright, qualified young folks can benefit your property management company.
Tenant turnover is one of the costliest challenges facing property managers today. Not only is there the loss of revenue from properties sitting vacant for an extended period of time, but the process of finding, screening and re-renting to new residents also takes time and money.
Links have long been a significant component of how search engines determine a website’s trustworthiness. Initially, the more links a site had, the more credible it was and therefore the higher it would rank in the search engine results. To prevent site owners from engaging in questionable tactics in order to obtain more links, however, Google has cracked down, ensuring only sites with quality backlinks rank well. If you’re willing to put in the work, here are a few ethical link building methods that can help your property management website perform better in the search engines.
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.
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.
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.
Any seasoned executive knows that staying on top of debt collection is critical. Letting accounts go past due and allowing invoices to go unpaid is counterproductive to the success of your property management business. Part of the problem is that many otherwise savvy business professionals fall victim to certain myths and mistruths surrounding accounts receivables. Let’s take a look at a few of these myths and the truth behind them so you can start turning things around ASAP.
Ever have one of those days where you just wished there was an extra hour (or three)? We’ve all been there. And in the property management industry in particular, time management is a challenge. It’s easy to become overwhelmed and either procrastinate or drop the ball completely, neither of which are good for business. The good news is, it’s never too late to learn how to better manage your time. The following tips should eliminate the time crunch stress and make you more productive in the process.