The use of technology is an important piece of a well-run and profitable property management company but not the only piece. Employees run the business and problem solve daily so how do they contribute to the success of the organization. What gets in the way of success? What tools support success?
Contributions to Success
It is important that employees know and understand how federal, state, and local laws affect the business. Employees also interact with all the moving parts of a property management company such as dealing with prospective future tenants, owners, and vendors. Their problem solving and communication skills keep the wheels turning. Then there is the mechanics of an office – answering phones, administrative tasks, marketing, payroll, human resources, and accounting. Hiring the right staff with a positive mindset who is able to perform the necessary tasks is essential. However, a positive work environment, and a well-defined mission along with a company culture that supports teamwork leads to success. The goal of many business owners is to have an office that runs itself without the owner being on site.
What gets in the way?
Most employees will say they just have too much to do. Distractions such as the phone ringing nonstop, owners or tenants coming into the office without an appointment, maintenance emergencies, chasing vendors for invoices, no shows at property viewings along with a host of unexpected tasks cause not only information overload but can contribute to employee burnout.
What tools support success?
Systems are meant to support employees not replace them. Systems allow employees to focus their time and energy on tasks while minimizing distractions. Systems set performance standards for the quality of work. Systems allow for a consistent experience for tenants, vendors, and owners. It helps avoid burnout. Systems allow for consistent employee training. Systems also mitigate risk and exposure to lawsuits. What are some typical systems that should be in every property management office?
- Policy & Procedure Manual – outlines standards of conduct, office policies
- Employee Manual – expectations as an employee, job description
- Checklists – perfect for routine repetitive tasks. Checklists keep tasks from falling through the cracks and refocuses employees when interrupted while performing the task.
- Job Position Manual – this is job specific and should contain all the steps, processes, instructions, login, and passwords for tasks performed by this position. This manual should effectively become a complete training manual for that job. The intent is if the person were to leave the company a temporary employee could step in the next day and be able to perform the job without missing a beat.
- Time Management – such as time blocking for focused work, office hours versus open to the public hours that build in time to read and respond to emails, get phone calls returned and to organize the day are all effective tools to support success
Systems need to evolve with the company. They provide a framework that is supported by the culture and the people within it. LandlordSource has many systems and checklists to support your company’s success.
Kathleen Richards, is the owner of LandlordSource, The Property Management Coach, and Portola Property Management. She has authored Property Management A-Z, and teaches regularly at community colleges and conferences about property management. She has been active in her field and holds professional designations as Master Property Manager (MPM®) and Residential Management Professional (RMP®) from NARPM®. Kathleen has served at the local and state level on the boards for NARPM® (National Association of Residential Property Managers).
Disclaimer: LandlordSource does not represent the article content in this website as legal advice. It is shared information only and up to the reader to use this information responsibly, seeking legal advice as necessary to their business.