There’s no doubt about it – the business world is shifting to the cloud and more and more industries are beginning to see value in going virtual, particularly in terms of cost. Property management is no exception. If the idea of running a virtual property management business intrigues you, but you’re just not quite sure how to do so, here are a few helpful tips to get you started.
Establish a Stellar Communication System
If your office is virtual, your customers, home owners, tenants and colleagues won’t be able to just drop by anytime they need something, so having an excellent communication system is essential to your success. Having the right property management software in place can make managing maintenance requests and staying in contact with everyone in your address book a breeze – and you can do it from anywhere!
Assemble the Right Team
The key to running a successful virtual business is recruiting and retaining trustworthy staff. Once you’ve done so you can divvy up the workload and trust that your team will do what it takes to get it done.
Develop a Network of Contractors
You can’t be at every property you manage all the time, especially if you’re running a virtual operation. You have to be able to trust that when something needs to be done at one of your properties, there’s someone you can call that will take care of it for you quickly and with quality results. The best way to ensure this is by developing a list of contractors that you know and trust, and that you can rely on whenever the need for their services arises.
Use Web-Based Software
When you don’t have to rely on physical equipment to run your business, you have the freedom and flexibility to be successful from any location. Web-based software is scalable and can keep you and your team connected no matter where each of you is working from. This means improved productivity and a reduced chance of things falling through the cracks.
Schedule Regular Meetings
One of the pitfalls of running a virtual operation is how easy it can be for individual employees to lose focus on the big picture. This can be overcome by scheduling frequent meetings to help reinforce your company’s mission, go over goals and game plans, and collaborate on ideas for process improvement. Meetings can be held virtually via the phone or web conference, but they should be held at least once a week. This will keep everyone focused and on the same track.
Like it or not, we’re quickly moving toward a virtual society so it’s best to embrace this culture sooner rather than later. By following these tips, you can begin to transition your property management organization smoothly so you will be poised for future success.
Find out what more you can do to boost the productivity of your organization. Download a free copy ofThe Property Manager’s Guide to Maximizing Productivity.