3 Keys to Better Property Management
Posted by Nate Burnes on Mon, Jun 28, 2010
As a Property Manager you are constantly struggling with managing your existing customers while trying to grow your business. There is always a competitor trying to take your customers. You need to be sure you provide the best possible service to your customer. Read below to learn about our time-tested keys to property management:
1) Know your client's property better than they do
Information Overload
You capture a remarkable amount of information about the properties you manage. There are three-ring binders and filing cabinets holding countless maintenance policies, contracts, and customer documents. There are electronic files holding gigabytes of files including legal documents, contracts, warrantees, and plans; and then there are the thousands of emails and calendar entries.
You use complex and expensive transaction processing systems to enter invoices and payments for your condominiums, HOAs, and apartments. You conduct regular meetings with trustees, board members, and owners and write extensive meeting minutes.
You have spreadsheets for everything imaginable.
And yet it can still be a challenge for a new maintenance technician to find the water shut off, for an on-call manager to quickly identify the right elevator company to call in an emergency or for an assistant to communicate the coverage and limits on the master policy to the new unit owner.
The right information, at the right time, for the right people
Having information is one thing, but having the right information, at the right time, for the right person is something that only the most effective can achieve.
The Internet has changed the way business is done everywhere, even in property management. Information no longer needs be locked in file cabinets or stored on inaccessible back room servers. Daily you are making key decisions about your property. Make sure you have the right information available to you whether you are at your desk or on-site at the property. Share information with your customers, vendors and other stakeholders. With encryption and access control, you can be sure that only the right people see the information they need. Everyone that services, lives, or is a key stakeholder of the property has a need to view appropriate information about the property.
Locked, inaccessible information becomes stale and dies. Shared information stays alive, grows, and becomes a critical link between you and your clients.
Store and share policies, contracts, spreadsheets and other property related information. Store photographs, diagrams and maps. Provide a photograph of the water shut off to the maintenance tech saving him time searching for it; share the insurance summary document to a unit owner. Be sure the right information is available to the right people at the right time.
Interested in the remaining 2 keys? If so, click below:
