December 22, 2016
7 Property Manager New Year’s Resolutions for 2017
With calendars about to flip to January in property management offices across the country, now is the time to reflect on the past year: What worked, what didn’t and how you can do even better in 2017.
Here are seven property management resolutions that will help you boost efficiency, cut costs and increase customer satisfaction, all while improving your bottom line.
- Get organized. This may seem like a basic idea, but it’s actually one of the biggest hurdles that many businesses face. Disorganized processes increase the risk of error and take a heavy toll on productivity. Recommit to organizing your files and implementing the latest software so you can track leads more efficiently and improve communication, with staff and renters.
- Use better teamwork. Keeping your finger on the pulse of what’s really happening in your buildings is a challenge when you do it from a distance. Coordinate with in-the-field teams to get up-to-date feedback on how operations are running and what residents respond to.
- Work smarter, not harder. Are you making the most of available technology? If not, it’s time to get on board. Advances in tools like property management software can help you save time and expand operations. Look into the latest offerings, including web-based software, and see how you can incorporate them into your property management business.
- Go paperless. By embracing technology and trading in hard copies for soft copies, you can reduce human error, cut down on repetition, and save time and money – not to mention lower your environmental footprint. As an added plus, you’ll free up staff to focus on bigger-picture issues and be more responsive to resident queries or complaints.
- Meet (and exceed) digital expectations. Another big bonus to capitalizing on digital technology: You can provide what today’s tenants expect, and often demand – quick, easy access to you and your services. Maintain a tenant portal so renters can issue and track complaints or maintenance requests. And offer online payment options so they can pay rent from anywhere, at anytime, in their preferred method: credit card, direct deposit, e-transfer, etc. Going digital offers a more comfortable, convenient process for all involved.
- Be social. Most residents are all over social media – especially millenials, a rising demographic in the rental market. Make use of the most popular platforms (e.g. Facebook, Twitter, Instagram) to stay in touch and share news with current renters, and promote or attract prospective residents. Social media is also a great way to further your brand and ensure that you appeal to the kind of residents you want on your property.
- Have a security strategy. Implementing a security strategy isn’t just about business continuity; it’s also about personal relationship continuity. The impact of having unsecure technology could devastate your reputation and your business. Research relevant security technologies, like PCI compliance, Secure Socket Layer technology and end-to-end encryption, so you can protect sensitive resident credit information. And look into options like closed circuit video surveillance to keep renters and their physical property safe.
With a few simple changes, you can make the New Year your best yet. Here’s to success and prosperity in 2017!
For more information on how you can lower operating costs while improving productivity and renter satisfaction, sign up for your free account today or give us a call.