Property management is an exhaustive work that requires a lot of strategy and planning where time is a crucial factor. When you implement successful strategies and time-efficient methods, your company will work much better.
But, how to be a professional property manager? What does it take to become good in this job?
Some things may be unclear and we want to help you with this link. For this reason, we have prepared several tips that you have to use to stay within the optimal work.
You must document everything
Every single interaction that you have with the tenants or landlords, must be documented. Your job is to document every single step you take as well as the time you needed for completing a certain task. Whenever you have to call a tenant, you need to document the time of call, the time you had spent on the call as well as the aspects that you were talking about.
In the beginning, this might be overwhelming for a starter, but you will get used to this task after you spend several weeks doing this. Just think of the fact that you have everything recorded and that no one can do anything wrong to you as you have documented everything.
No multitasking – reserve time for each task
Multitasking may be productive in some jobs as you need to handle many tasks and requests at the same time, but not in property management. Instead, you need to organize everything and divide the work into separate blocks and assign the needed amount of time for each task you complete.
When you are a small company and you have a lot of work to do, this may seem impossible.
If you cannot organize the work, you may want to hire an additional worker that will help you with the tasks. Multitasking may be counterproductive as you can forget something and that can create a disaster.
Provide all your customers a survey
Even though you list all the requirements for renting an apartment like a salary requirement or no couples, some clients will not take a look at the requests you had posted.
To stop wasting time on reading and reviewing applications that do not meet criteria, you can create a pre-rental survey for potential customers. Use Google Forms for example, as these offer easy edit and process. You will save yourself a lot of time.
Get a VA team
Virtual Assistants are there to help you with some of the tasks that do not involve a lot of niche expertise and these may include creating surveys, updating tables etc.
The goal of hiring VA is to reduce the amount of redundant and tedious tasks as you have other things to do. Instead of you, your VA will do all these for you.
Your goal is to train him and provide him with all the necessary information that he might need to solve a certain issue. Though you have to pay him, you will have free hands to work on more important subjects.