If you are in the property management business then you already know the fact that time is money for you. One can earn a lot of profit in this business, but on the other hand, it is an undeniable fact that being a property manager means staying busy all the time. It’s difficult to deal with the contractors, to manage the in house workers and the clients all at the same time and this is the one business in which other people’s crisis becomes your crisis. In a nutshell, property management is one, and you’ve got to work with a plan otherwise you will end up in serious trouble.
Look around yourself, you will find so many property management companies but not all will be successful, and the reason behind it is the fact that they lack proper management skills. Now, if you are someone who is new in property management or if you are just about to get started as a proper manager then this article is a must read for you because today we are here with a few tips that can help you save time and energy too.
1- Document your time
Do you want to know which task of yours take most of your time? Well, if yes then you need to document all of the work you do for at least a week. You see this will help you manage your time efficiently, and you’ll know what task requires the most of your energy and time. Whether it’s meeting your contractors or interacting with your tenants, you need to document each and everything for time management.
2- Don’t multitask
Multitasking is great, but when it comes to the property management business, it’s not a good idea. Especially if you have to save yourself some time then it’s better to focus on one thing at a time. You are human, you’ve got two hands and one brain and to bring the best possible results in your business, you need to pay attention to one thing at a time. You can divide your time into blocks. Like, if it’s a meeting, set your time for it and then follow the schedule you make.
3- Pre-screening surveys
Remember one thing that screening your tenants will be one of the most time consuming tasks of property management and this is also one of the most hectic jobs you will do. Even if you set criteria for tenants in the ads, you will still get emails and calls from tenants who are not qualified. Now, to save your time, you should opt for making a survey for the tenants on Google forms and upload that survey on your rental listings so that the tenants fill that survey first when they want to be considered.
4- Connect with your staff
Whether for 10 minutes or even 5 minutes, you need to connect with your staff every single day. You can call it sort of a formal meeting in which your team can understand what’s happening for the day. This meeting will help your staff work in an efficient way and they will be able to tell you if they need some help or if there are some obstacles that they are facing in their tasks.
These are some of the most useful tips that can help you save time in property management. Also, remember, that being a property manager means being a leader and you need to make sure that you possess all the qualities of a good team leader so that your business can be successful.