To say the property management business can be chaotic is an understatement. Property managers were dozens of hats and are being pulled in multiple directions at any given moment. From showing units and screening tenants to managing maintenance requests to running reports and balancing books, there’s never a dull moment in our industry. Thankfully, there are some areas where precious time can be saved and optimized. Let’s take a look at four things to focus on below.
Consolidate
How many different systems, applications and programs do you and your team use on a daily basis? If you are running your business on this kind of disconnected model, you are most certainly hindering efficiency with things like data inconsistency and task duplication. Additionally, having multiple independent tools impacts overall visibility. Switching to a comprehensive property management solution alleviates these serious concerns by combining everything into a single, unified system.
Automate
Tedious manual work is a time sucker for you and your team – time that could be much better spent on more mission-critical activities. This is where automation can become a game changer. By shifting these routine tasks from human to machine, not only will you free up resources and skyrocket productivity, but you’ll also eliminate costly human error from the mix. Automation also enables you to deliver a more positive client experience, which will help differentiate you from your competitors.
Go Digital
Manually entering data and filing paperwork is not only time-consuming, but it’s also a system that is wrought with potential errors – particularly when it comes to accounting. Furthermore, collecting payments via paper check slows down the process and negatively impacts cash flow. Fortunately, all of these issues can be addressed by transitioning to a digital platform. That way, all of your data will be available any time, from anywhere. You’ll also cut down on costly mistakes and save money on paper.
Prioritize the End-User
As your property management business grows, you will need to onboard new employees. If this process isn’t yet fully optimized, time is inevitably being wasted. Adopting a robust software solution that is user-friendly and intuitive can dramatically reduce the amount of time it takes to get new hires up to speed. Likewise, be sure the software provider you select offers superior training and support. These two things combined represent a powerhouse for productivity and efficiency.
When it comes to the property management field, there’s always room for improvement. By implementing the four tips above, you’ll further streamline your internal operations and optimize your time, which will benefit both your employees as well as your clients.
