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How to Enable Goal Progression at Work

Posted by Angelica Diaz

Internal business goals are dynamic. Strategy, time, data, and labor are poured into establishing achievable goals for an organization, whether it’s company-wide, departmental, or individual. Sometimes even with all the data on their side, companies don’t reach their goal within the projected timeframe. When this happens, it can be disappointing for everyone involved, but it should not be less motivating. In fact, missed goals are an opportunity for teams to leverage retrospective failures, shaping new goals and outlook.

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Topics: Productivity, Blog, Technology, Property Management, Tips, Communication, Profitability

3 Elements of Email Etiquette for Successful Teams

Posted by Mitchell Vinnitsky

Email is ubiquitous, it’s heavily relied on by businesses for internal communication, external communication, and marketing. There are expected to be 4 billion email users worldwide by the end of 2020 and that number is projected to climb to 4.3 billion by 2023. Adopting the right email practices can improve connectivity between teams, collaboration, and productivity while helping to foster positive work relationships.

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Topics: Property Management, Tips, Communication, Employee Satisfaction, Organization

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.

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

How Can Property Managers Measure Profitability?

Posted by Jessica Galeano

There are many metrics property management companies can use to pinpoint the value of their business, increase the profitability of their service, and decrease costs to their operation. Leveraging software that facilitate these measurements or regularly run property management reports allow organizations to actively improve or maintain profitability and increase cashflow to continue to grow their business. Collecting and analyzing data are key element of planning so businesses can stay financially healthy. If you operate a property management company and intend on growing, here are some strategies to effectively measure your profitability.

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Topics: Productivity, Property Management, Accounting, Tips, Advice, Reporting, Trends

5 Tips to Avoid Property Management Accounting Errors

Posted by Mitchell Vinnitsky

Errors are inevitable when accounting department rely heavily on manual processes. Property management companies deal with multiple accounts, hundreds to thousands of customers, vendors, and more, which can make the volume of invoices, payments, balance sheets and other accounting tasks overwhelming and difficult to complete perfectly on the first or even second try. Errors are inevitable, but unbalanced books can double the workload and stifle productivity. So, how do accounting teams avoid the seemingly unavoidable? Here are 5 tips to keep your books in order.

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Topics: Productivity, Property Management, Accounting, Tips, Advice

7 Common Accounting Errors for Property Managers

Posted by Jennifer McCready

Manual data entry of hundreds of numbers every day can make accountants and administrators more susceptible to errors. Data entry of invoices, bank details, account codes can be stressful, it’s very easy for numbers to become distorted especially when being inputted repeatedly. When mistakes are made in accounting the result can be inconsequential or cause a domino effect impacting the result of numbers and books.

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Topics: Productivity, Technology, Property Management, Accounting, Tips, Economics, Finances

5 Ways to Enhance Business Relationships

Posted by Mitchell Vinnitsky

Relationships are essential in business. An organization must create a team that is reliable, they must ally with partners that are supportive, and foster loyalty with customers. Creating these relationships with key players is essential to the success of property management company. You can’t manage properties with a customer, you can’t serve customers without a team, and you can’t build your service without partners. No matter how you look at it, there is no situation where it is not important to develop and strengthen relationships.

Here are 5 ways to create longevity in your business relationships.

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Topics: Property Management, Tips, Business Growth, Employee Satisfaction, Engagement, Hiring, Advice, Networking, Organization

Online Knowledge Base: Best Practices

Posted by Jessica Galeano

Offering an online knowledge base is a helpful in creating a complete and effective customer service strategy. 89% of customers expect companies to offer a self-service support portal, and Forrester research determined that the most frequently used self-service platforms are knowledge bases. A strong and comprehensive online knowledge base can come in many forms: a website, FAQ, manual – even social media, or it can be a combination of multiple platforms.

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Topics: Blog, Property Management, Customer Service, Tips, Communication, Engagement, Digital, Training, Portal, Customer Satisfaction

Everything You Need to Know About Dirty Data

Posted by Jessica Galeano

It’s useful for businesses to review data insights and analytics by using reports to track patterns and trends. Data projections can be used to help when making important business decisions anticipating customer needs. When unreliable data, known as “dirty data,” ends up in the mix, your business insights can be compromised. Dirty data is inevitable. Studies show that executives believe around 33% of data is wrong. Even though it can’t be avoided, it should still be minimized. To safeguard your analytics against dirty data, you need understand a little more about it.

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Topics: Property Management, Tips, Economics, Organization, Finances, Reporting

3 Ways to Curb Parking Incidents

Posted by Mitchell Vinnitsky

The importance of meticulously managed parking lots can’t be overlooked. In many large cities across North America there is a demand for parking that isn’t easily being met which can lead to tensions with first come first serve parking systems. In properties like condos, that have central parking garages, it’s beneficial to take precautions to avoid potential incidents as much as possible by creating a strategical parking system.

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Topics: Tips, Employee Satisfaction, Advice, Conflict Resolution



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