Condominium & HOA Management – NetIntegrity
1.800.231.5162
  • Request Online Demo

Netintegrity Blog

Who Should be on Your Implementation Team?

Posted by Jessica Galeano

When you’re ready to kick off a vendor-guided software implementation, one important question to ask is ‘who should be involved’. For every property management company and every software application the answer could vary. But for an ERP there are some key choices for an implementation team that can facilitate the experience and ensure ongoing success throughout the lifetime of the relationship.

Read More

Topics: Productivity, Technology, Property Management, Employee Satisfaction, Organization

5 Reasons Software Implementations Fail (and How to Overcome Them)

Posted by Jessica Galeano

According to research conducted by Gartner, 75% of all software implementations fail. A new software ERP that fails to go live means that the time and money invested into selecting a system was wasted and the process needs to begin again. It also leaves teams who were excited for the additional support in their roles disappointed.

Read More

Topics: Productivity, Property Management, Employee Satisfaction, Budgeting

The Impact of Positive Reinforcement on Your Team

Posted by Mitchell Vinnitsky

Positive reinforcement is one of 4 kinds of operant conditioning, also known as instrumental conditioning – a form of behavioral psychology popularized by B.F. Skinner. In theory, operant conditioning is essentially a method of strategic reward and punishment to shape future behavior. The term “conditioning” itself can be alienating to many people, but in practice positive reinforcement is a system of validation that’s meaningful to people on the receiving end.

Read More

Topics: Productivity, Property Management, Communication, Employee Satisfaction, Advice

5 Soft Skills That Shouldn’t Be Ignored When Hiring

Posted by Angelica Diaz

When hiring a new employee, a manager’s first consideration when handed a CV or resumé is to look at previous job experience to determine whether the candidate has the skillset or background knowledge to preform as expected. What’s sometimes overlooked is a candidate’s soft skills, but when ignored it’s quite possible that the opportunity to bring onboard a valuable member to the team is missed. Placing weight on soft skills can help your organization cultivate a team that is cooperative and productive.

Read More

Topics: Productivity, Property Management, Business Growth, Hiring, Budgeting, Business

5 Tips for Helping Employees Overcome Isolation Fatigue

Posted by Mitchell Vinnitsky

The decentralized work environment has become somewhat of the norm for businesses across North America. While there are certainly perks to this flexible work set up, the psychological effects of long-term distance from colleagues in addition to a static environment has resulted in the increase of troubling feeling of isolation fatigue and loneliness.

Read More

Topics: Productivity, Property Management

4 Reasons Why You Should Focus on Customer Service to Drive Profitability

Posted by Mitchell Vinnitsky

Your business exists for two main purposes: to fill a customer need and to be profitable. As it turns out, these two goals can be attained collectively by investing into customer experience. Research confirms, time and time again, that organizations that have better customer service are profitable. A study conducted by Temkin Group found a moderate increase in customer experience warranted an average revenue increase of $823 million over 3 years for a company with an average $1 billion annual revenue.

Read More

Topics: Productivity, Property Management, Customer Service, Budgeting, Customer Satisfaction, Profitability

How Capitalization Rate Provides Insight into Your Properties

Posted by Tricia Gopi

The capitalization rate, sometimes referred to simply as the “cap rate,” is a concept that’s fundamental for anyone buying into real estate for commercial purposes. The cap rate is used in real estate investing to provide a clear ROI of properties. It’s typically depicted as a percentage and its value can vary over time.

Read More

Topics: Productivity, Property Management, Tips, Business Growth, Budgeting, Economics, Profitability

Price to Profitability for Property Management Companies

Posted by Mitchell Vinnitsky

Research shows that pricing is the element of the marketing mix with the greatest impact on profitability, in one study a 5% price increase led to an average 22% increase in earnings. While it might seem obvious, your profitability depends heavily on your service fees and product pricing. If prices are not optimized, organizations often end up selling themselves short, cutting out the opportunity for profits. On the other hand, if prices are set too high, profits can be put in jeopardy due to overselling your value. Pricing is a delicate balance, so here are a few considerations for companies reviewing their rates.

Read More

Topics: Productivity, Property Management, Business Growth, Profitability

Growth vs Profitability: Does your Business Need to Pick a Lane?

Posted by Mitchell Vinnitsky

When small to medium sized property management companies are looking to strengthen their industry foothold whether they’re just starting out or revaluating their strategy, businesses often have to choose between growth or profitability focus. Because of the crowded nature of the property management industry, selecting one or the other can be particularly daunting, so it’s important to think long and hard about the best option for your company.

Read More

Topics: Productivity, Technology, Property Management, Business Growth, Profitability

5 Changes to Increase Your Business’s Overall Profitability

Posted by Mitchell Vinnitsky

Profitability is essential to businesses. It’s a marker of success and it can always be improved. The more profits your property management company can drive, the more flexibility your business is capable of and the more opportunities for expansion you will encounter. Knowing where you can make small tweaks or big changes to your operation can help you derive a strategy that will help keep your company not just financially stable but profitable and booming. Here are 5 tips and tricks for increasing your business’s profitability.

Read More

Topics: Productivity, Property Management, Accounting, Finances, Reporting

Categories

SOCIALIZE WITH US

The Property Manager's Guide to Technology

Recent Posts