Whether you prefer good old fashioned pen and paper or you enjoy the advantages of property management software in the cloud, developing good habits and routines is critical if you want to be an effective property manager. Recent research in the area of human habits seems to suggest that it might be easier to form new habits to replace the old, as opposed to simply trying to ‘break’ the ones that are no longer serving you well.
So what are some habits that you should be forming in order to excel at property management? Successful property managers:
1. Call when they say they are going to
It may sound simple, but according to leading real estate trainer Darren Hunter, lack of communication is by far the number one complaint landlords have with their property managers. Effective communication is the cornerstone of any business relationship. It can be as simple as calling when you say you will, or having regular contact with your landlords, not only on the important and immediate issues at hand but also to simply touch base.
2. Use automated systems
Software solutions, whether they be cloud based, hosted or on your local server, have made the life of a property manager so much easier. Automated reminders, arrears tracking, maintenance management and streamlined reports can be handled quickly and efficiently using this technology. Utilising this functionality can make a big difference in how effective you are in your job, from staying on top of day-to-day processes to catching potential problems before they become larger issues. These solutions provide you with up-to-date data at a glance, making this easier than ever. Check what features your software has available to make sure you’re getting the most out of your investment. It may seem daunting to change a habit but once you do, you’ll quickly become used to the new and improved routine!
3. Nail their to-do lists
You won’t see a good property manager staring at their to-do list and wondering how they will get it all done. Successful property managers are proactive and make their to-do list a habit. They prioritise and segment tasks into simple, achievable bites. Making productivity a habit is the easiest way to ward off dreaded procrastination! Making use of the features in your property management software can help ensure tasks aren’t forgotten.
Managing any sized portfolio is a complex and time-consuming job, forming good habits and getting into routines is one of the keys to being successful in the property management industry.