Tips For Handling Property Management

Property management can sometimes be an overwhelming task. There are ways to make tasks and processes more efficient, which, in turn, make the job easier by saving time and headaches.

Communication

It may be a common phrase, but excellent communication is definitely the key to better property management. When people don’t know or understand something, they fill that void with assumptions. This can lead to confusion and a number of problems. Thus, provide proper information and facts to fill that void instead.

Providing more information than necessary can be helpful, however, do not walk away believing the message conveyed was understood. Before moving forward, ensure everyone does understand.

Remember to listen. A property manager can learn a lot from listening to residents, their needs, wants, and complaints. While it may not be possible to solve every issue, people need to know management is hearing what they are saying. Sometimes people are simply seeking someone who acknowledges their issue.

Always be professional and maintain a respectful and non-emotional presence. When meeting in person, be aware of body language because standing with arms crossed or showing other aggressive stances can send the wrong message.

Keep Organized

Being prepared always helps when a crisis arises. Get to know the property well. Keep a contingency plan for every issue – from fire to flood – that may occur. Prepare a handbook of contacts and vendors for tasks that need to be outsourced. Establish a protocol for dealing with a variety of resident concerns. Taking these measures prevents stumbling about when something happens. Instead, it’s possible to just jump to action.

Make lists. It sounds silly, but lists help keep managers on task and allow for prioritization. Also, studies show that people are more productive at the beginning of the day. Handle the most challenging issues first thing in the morning. To make the most of your time, group together tasks that are located in the same area. A lot of time can be wasted going back and forth to different parts of the building all day.

Utilize technology

There are so many time-saving tools and resources available for property management, including:

  • Appointment reminders
  • Electronic calendars
  • Electronic billing and banking
  • Text alerts and email messaging
  • Management software

Take time to explore various tools to see what may be most appropriate. Using this kind of technology can make property managers much more efficient and effective.

Calendars and reminders keep tasks organized. Electronic billing and banking provide convenience and an added value by reducing accounting errors. Management software such as online portals allows for better communication, 24/7 access, and electronic documentation. Stay on top of repairs, requests, and completed tasks.

Text alerts and email messaging help with overall communication. This can be extremely helpful, especially for building-wide alerts. Be careful not to let this kind of technology be distracting. For example, Twitter or Facebook can be a great way to reach residents, but social media can also be overused; doing so makes the messaging ineffective, and important messages may be ignored.