5 Ways To Be a More Efficient Property Manager
Between inspections, maintenance requests, rent roll growth and more, property managers have a lot to get through each day. A good property manager knows working inefficiently can quickly result in being days or weeks behind schedule. So how can property managers stay on top of their tasks, or even get things done ahead of time? Here are five handy tips.
Get your priorities straight
It’s easy to become overwhelmed when the daily to-do list has more tasks than can reasonably be done between sunrise and sunset. Sometimes it’s an unfortunate fact that not everything gets seen to in a day. That’s okay, so long as the tasks being relegated to the following day are the least important. Routine inspections, open-homes and following up on maintenance are among those that should always be done on time.
By properly prioritising your tasks throughout the day and week, everything that’s vitally important will be done promptly, thus maximising efficiency. A client upset about you failing to complete a routine inspection won’t be appeased by you telling them you finished paperwork instead. Still, knowing which tasks are more important won’t help if you don’t properly plan.
Assessing your tasks ahead of time on a daily and weekly basis is perhaps the most practically important part of being efficient. Proper planning ensures the most important tasks are being prioritised, and gives plenty of notice if you’ve got too much on your plate.
Asking someone in the office to help out with tasks has a higher success rate if done well in advance. Additionally, knowing what the days ahead look like makes it much easier to know if you can take on additional tasks.
Delegate to technology
As proptech continues to improve, stay up to date and use it to your advantage. Not only do new systems stand to make your life easier (and more efficient), they also give you a leg up on the competition. It’s not wise – or efficient – to reject new technology in favour of “how you’ve always done things”. For example, Realworks’ One Touch platform allows for completing, issuing, tracking and digitally signing your Form 18as in a matter of minutes. This stands to save hours of time normally spent on menial tasks like chasing up tenants for signed forms. One Touch continues to receive updates to make life easier still, such as adding utilities connection services and consistent quality-of-life improvements.
Support team / delegation
The best property managers know that no agent is an island. Surrounding yourself with high achieving, supportive team members is vital for prolonged success. Not only does this kind of environment encourage everyone to maintain high standards, it’s also important to have reliable colleagues around for when the going gets tough.
It’s a sign of strength, not weakness, to be able to reach out to your fellow property managers and ask for help. Trying to push on alone when you’re unsure of something or completely snowed under is not a recipe for property management success. REIQ Members can receive unlimited email and phone support from property management experts by contacting the PMSS Team on 1300MYREIQ (1300 697 347) or emailing email@example.com.
Good property managers know how much they can handle. They also know when it’s time to take a breather. Stepping back avoids burnout in the short term, and also ensures longevity and consistency in the long term.
Taking breaks doesn’t just mean waiting for annual leave and taking a few weeks away, though. Short respites should be peppered through your years, weeks and even days. It might feel as though there’s not a single five minute window to spare but making time to relax, even if only for a few minutes, will lead to an overall increase in productivity.
Property management is a rewarding endeavour, but not an easy one. It’ll often feel like there aren’t enough hours in the day, but with practice and experience efficiency becomes second nature. Stick with it, listen to advice, and never be afraid to ask for help. To keep up with industry-relevant updates and advice, subscribe to the REIQ’s Property Management Update.