The state of the environment impacts business and business impacts the environment. As environmental concerns become more dire, customers are more concerned about how their spending decisions effect the planet. A 2018 Futerra survey found that 88% of customers want businesses to help them achieve a more sustainable lifestyle, but 43% of respondents said that businesses make it harder to live sustainably.
In Canada and the USA, we produce waste at an exceptional rate. Food, water, and other resources are being consumed far beyond our actual use for them. When they are used, they aren’t being used sustainably. The World Bank predicts that the amount of trash in the world will increase up to 70% by 2050. Reducing waste in your offices by creating a culture centered around sustainability can help cut costs, enhance brand reputation, and improve employee morale.
Communication has gone through an evolution following the advances of technology in general. The way we’ve communicated as individuals, groups, and organizations have all been disrupted by innovation. Property managers often act as a liaison between customers, colleagues, vendors, and others, which makes optimizing communication incredibly important. Being able to send documents like letters, notices, or even invoices electronically and en-masse can offer a multitude of benefits for your company.
An important part of business is communication. The ability to stay connected to partners and customers at any given moment, can affect the efficiency of your operation. Traditionally writer correspondence and physical mail was the most common way to communicate, especially when communication was sensitive. Direct mail is still frequently used but there are now alternative methods of communicating that prove to be better options. Relying on traditional mail for important business matters can actually be unfavorable compared to newer, more effective options.
Not too long-ago video conferencing technology was the thing of imaginative TV or an out of reach technology. Today video meeting software is a readily available, easy to access tool that companies can leverage. However, many companies are hesitant about their switch to remote video technology. TechRadar research shows that around 26%-30% of people are uncomfortable with the idea of using video conferences.
Extended reality refers to all the immersive technology or new realities. The relatively new technology marks a point of disruption in the world of real estate and property management.
An AGM (annual general meeting) is a mandatory meeting held between a condo corporation and its owners/shareholders. According to the condominium act, at least 25% of owners need to attend their AGM, either physically or by proxy, to reach quorum. If quorum isn’t reached, AGMs are delayed until enough people can attend.
In multi-family residential complexes, interpersonal friction between owners and tenants isn’t uncommon. In 2019, people spent an average of 2.8 hours of their week in conflict with someone else. Whether they are minor disagreements, noise complaints, or neighborly spats, it’s important that property managers are able to minimize altercations as soon as possible by deescalating tensions.
One of the hard realities of property management is that sometimes you have to be the bearer of bad news. It’s important that property managers maintain a positive relationship with their tenants so, delivering negative news can be intimidating. No one ever wants to be in the position of telling tenants about rent increases, large maintenance projects, or repair issues. Ideally, property managers will rarely have to deliver this kind of news, but when they do, it’s important to be tactful and honest.
An HOA board of directors is the governing body of a residential community. The purpose of an HOA board is to make and oversee decisions regarding community assets and regulations. Most HOA boards are non-profit organizations where each board member serves based on trust. Fiduciary duty requires board members to uphold that trust by acting in the best interest of the community.