Property Managers can face multiple challenges and struggles on a daily basis. Here are 7 of the most common challenges you can face. How many of these apply to you?
1. “I am scaling, but with bad processes, and daily tasks are becoming seriously time-consuming.”
Potential Solution: Maybe it’s time to sit down and really take a hard look at what needs to be done on a daily basis and come up with a streamlined process for how to get this done. Maybe that looks like carving out two hours a day for necessary tasks, or maybe it looks like hiring an assistant to help manage these things for you.
2. “I don’t know whether the tenants are happy or not.”
Potential Solution(s): There are a few ways to handle this. One, you can just ask directly. Two, you can send out feedback surveys biannually. Three, have a way for tenants to suggest changes or to air grievances.
3. “My employees are leaving one after the other because of hard conditions.”
Potential Solution: If people are leaving, that’s a problem. And it’s probably something you can change. So, despite it being uncomfortable, ask them why they are leaving and see if it’s something you can improve. Less turnover means more money in your pocket.
4. “Tenants complain several times about the same thing.”
Potential Solution: Compile a list of complaints and see if any “issues” continue to rise to the top, and then try to systematically address them.
5. “I apply “no news is good news” and don’t proactively communicate about what’s happening in the building.”
Potential Solution: Try to prioritize open communication if you can. Turnover in any business is much lower when people feel heard.
6. “I’m really busy, and I never seem to find the time to sit down and think about my strategy.”
Potential Solution: Try do distinguish what is important from what is urgent. You will figure more easily what deserves attention and what can be ignored. Check this matrix invented by general Eisenhower:
7. “Searching data takes most of my time.”
Potential Solution: Break it down in easy to manage concepts. Focus on one piece of information per week and devote time to really diving in deep. If it helps, give yourself a time limit on research, and stick to it (so you have time for other things, like thinking about strategy).
Fortunately, there is a cure for these symptoms to regain freedom over these daily challenges that take you down (and inevitably cause stress in your life). A combination of efficient processes along with proactive communication can put you back on top.
It starts by structuring the flow of work you tackle every day. For that, you can put in place a digital helpdesk and save time straight away like in this example (business case Eqwater). Once you start gaining time, you can use this extra time to be more pro-active in the communication of tenants. You will anticipate their needs and identify what they want on a regular basis (see usage of analytics on urbest.io).
To know more about how technology can overcome challenges, check your profile and type of buildings managed on urbest.io