As a property manager, you are required to handle several jobs. It can range from negotiating contracts for janitorial services, ground keeping, and even dealing with tenant problems. As an effective property manager, you must keep everything running smoothly, around the clock.
However, you can quickly get stuck in the regular property management tasks. This is why you must change your work ethic to be more productive. This is done by creating time to focus on essential things and avoiding things that would hinder productivity.
When you apply good habits, you can improve your communication and productivity while enjoying a good life-work balance. So, with this in mind, consider the following six tips that will help you become a better property manager.
By following these tips and cultivating self-discipline, drive, and determination, you can improve your skills and become a successful property manager.
A problematic tenant can waste your time. Such bad tenants can affect your daily operations for days and sometimes weeks. This is why you need to screen your tenants properly. Gone are the days of using pen and paper systems for screening. Instead, you can use property management software. Such software can help you identify high-quality tenants and handle rent collections, bookkeeping, maintenance calls, move-in and move-outs, and other property management activities. Additionally, such management software can provide customised recommendations and certified tenant screening.
The software will help you screen prospective tenants before scheduling viewings or sifting through their applications. They can also help streamline your paperwork and make your job easier.
As a property manager, performing every task in your business is impossible. A significant reason is that you would not have the time to do so. So, the best option is to outsource tasks that don't need complex decision-making or detailed training.
When you outsource tasks, it could save you money and time. For instance, you can hire a virtual assistant to communicate with your website visitors about your services, answer rental requests, or even schedule appointments.
It would be best to always communicate with your tenants about maintenance improvements like elevator repairs, windows cleaning or reroofing, etc. This will help foster good relationships.
Inform them when you intend to come for unit maintenance check-ups. Send email updates to your staff to ensure that things are running smoothly in your community.
Every property manager should have protocols and policies that remove potential issues or miscommunications with their tenants. You should provide in writing every property rule when tenants sign the lease.
Additionally, it would be best if you had protocols for any situation. For example, when tenants breach parking policy, there should be a protocol in place that the property manager follows. For example, it could be having the car towed or issuing a warning to the offending tenant.
Screening a tenant is one of the most time-consuming tasks of every property manager. A primary time-consuming task in the screening process is usually answering emails and calls from unqualified tenants.
Sometimes, these tenants might not read or meet your listed requirements/criteria. Yet they will still reach out. So, to make your work easier, use pre-screening surveys such as Google Form surveys. You can add them to your listings and ensure prospective tenants take the survey.
To become a better manager, you must ensure organisational skills competency. How do you do this? First, you create playbooks or templates that can increase efficiency. Since several routine tasks tend to be repetitive, you should create a standard process for your day-to-day tasks to save time.
This will also ensure that your employees work similarly to handle similar situations. An excellent way to start is by having a database for storing vital information. Then create playbooks for tasks like rent collection and inspection checklists.
You can have playbooks for different purposes, depending on your mode of operation and your property management company. For example, a playbook will help maintain consistency, organisation, and documentation in your business operations.
Property management is a fast-paced job. This can sometimes make the job quite stressful. So, you must know how to be a better property manager, whether new to the field or a veteran.
This is why you must have the right skills and abilities to be on top and at the front of your game. When you take the proper steps to work and hone your skills, you will become successful at what you do.
Good property management is dependent on the property manager. The above mentioned tips should help you improve and become a successful property manager with self-discipline, drive, and determination.