Property management may seem like it would be a straightforward profession, but in reality it’s a complex network comprised of several areas of expertise. Condo law, customer service, tenant complaints, collections, neighbour conflicts, maintenance and repairs, inspections, and emergency protocol are just a few of the different areas property managers need to be prepared to deal with. With the vast demands facing property managers it is beneficial to regularly review and improve your business processes.
There are three key areas where property management companies can improve:
1. Communication
It is extremely difficult to streamline communication in a world that is now so instantly connected. Between phone calls, emails, voicemails, texts and drop-in clients, it can be challenging to keep track of all the requests coming in. In addition, there are so many different people involved in the line of communication from property managers to staff to owners and tenants.
To improve communication in property management it is a great idea to hire staff that are solely dedicated to communicating. These individuals can be on site to assist walk-in clients as well as answer phone calls and emails. These staff members will then be well equipped to schedule appointments and make referrals because they will be at the centre of the property’s line of communication. It is important to ensure that all communication is thoroughly documented to avoid any miscommunication and support any issues of liability.
Another way to overcome communication challenges is to provide 24/7 online contact for owners, tenants, staff and property managers can use. This way all correspondence is documented and reduces the amount of phone calls coming in, which helps streamline operations. A 24/7 chat or online contact brings greater improvements to customer service.
2. Distance
If you own multiple properties it is important to establish strict guidelines about your service areas in your condo contact. It is not efficient to have your service and maintenance staff spread over a huge distance. This causes lengthy commutes and less on site staff. Hiring more staff within a smaller radius will create more productivity and reduce wait times when your tenants have problems.
Furthermore, it can be difficult for interested tenants to come and view an available unit. With any new tenant, people want to know what they are paying for before moving in. A good way to overcome this issue is by providing online video walkthrough tours of available units. This way people can have a realistic idea of what the unit looks like and also saves you time with fewer scheduled in-person appointments.
3. Automation
The technological advancements over the last couple of decades have resulted in software that is specifically designed to simplify repetitive tasks. Look for property management software that is designed to streamline property management responsibilities such as accounting, rent collection, maintenance and tenant statements. By automating some of your business processes you can eliminate messy paper trails and feel confident that everything is being completed efficiently and correctly.
These business improvements will help make your property management services more efficient, provide positive customer experiences, and deliver cost effective savings. Contact us, if you’re looking for professional property management to ensure your investment is handled by experts and continues to grow.