How do you create an exceptional tenant experience once a tenant has moved in? Does your maintenance request process quickly address requests while keeping the tenant in the loop? How long does it take you at the beginning of the month to receive all your properties’ rent for the upcoming month? Is it in finding the right tenant, drawing up leases, or conducting move-in inspections?
Processes must be established to tackle the three workflows of property management before any scaling can occur (unless you want to scale to a 100-hour work week as well).Įstablish your process for finding tenants for your properties and recognize where the bottlenecks are occurring and where you are spending the majority of your time. What is barely working when you have 250 units will not magically fix itself when you have 500. However, many managers are not equipped to sustainably scale their businesses. Property managers list scaling their business and increasing revenue as one of their top focuses each year. With these time-consuming processes automated with software, property managers can focus their attention on the things that matter most, like scaling their business.
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Property management software can now streamline the entire maintenance request process, send mass communication to tenants packed with all the details they need, and automatically send inspection reports to tenants when an inspection is completed.
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This begins with utilizing technology to maximize your leverage as a property manager over these manual daily tasks. But what if there was a better way? Instead of trying to clean up as many messes as possible, put the right processes in place so that those messes are never made in the first place. To fix this, property managers often create long to-do lists and attempt to maximize the amount of work they can get done in a day. Handling maintenance requests, communicating with tenants, and conducting inspections can fill up a property manager's day leaving no time for the twenty other things that need to get done. The most common challenge faced by property managers is poor time management. Attack some of the most critical challenges of property management early on and you’ll be thanking yourself for years. Property management is a difficult job that can be rewarding both financially and spiritually if the right processes are built.
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