Great Property Management Tips For All Property Managers
Managing a property is a lot of hard work, whether it is a commercial office, retail shopping center, or multi-family building. While property management can be challenging, it can be a very rewarding occupation. To make managing your property easier, here are 10 great property management tips to help keep you organized, focused, and successful.
10 Great Property Management Tips
Expect the Best. Prepare for the Worst
One of the best ways to avoid the stress of needing to pivot suddenly is flexible planning. A solid “plan B” can help keep you from needing to improvise. Develop plans for all types of scenarios, from weather related emergencies and power failures to dealing with upset tenants.
Make a Prioritized List
You have a lot to do every day. Make a list of all the tasks you plan to accomplish over a certain amount of time, then re-order that list with the most pressing matters first. To really boost your efficiency, try using an online or cloud based CRM.
Do More Difficult Tasks in the Morning
Typically, most people are more productive in the morning. Use that to your advantage. Get the more time consuming and thought intensive tasks out of the way as soon as you get to work. This also helps prevent your most important tasks from being derailed by things that come up throughout the day.
Connect With Your Staff
Your staff is your most valuable asset. Make sure they stay well informed about the work that needs to be done and do not be afraid to delegate responsibilities. Recognize good work, celebrate birthdays, and do what you can to keep the atmosphere enjoyable.
Manage Bigger Projects by Breaking Them Up
Hit with an overwhelming project? Try breaking up large projects that seem too large to tackle, into smaller, more manageable pieces. This is another area where your staff is a huge asset. Do not be afraid to ask for help when necessary.
Avoid Multi-Tasking When Possible
Though multi-tasking is a great skill, research suggests that people complete projects more efficiently when they focus on one thing at a time. Rather than dealing with a tenant complaint, preparing an RFP, and trying to review resumes for an open position at the same time, focus on knocking out each task one by one.
Keep Reminders About You Goals Close By
Whether it’s a calendar notification or a post-it note, keeping your goals visible will help keep you motivated and goal oriented in your work flow. Goals are most effective when they are written down and reviewed on a regular basis.
Get Rid of Distractions
Social media, personal phone calls, and games can distract you from work. Schedule breaks for these things to both keep you focused and provide rest in between projects. Try keeping your phone on silent, especially when working on your most critical tasks.
Maximize Your Resources
Relying on your network, your staff, and other resources can all help keep your property running smoothly. Remember to incorporate all of your resources during day to day tasks and special ad hoc projects for greater efficiency.
Now that we have covered 10 Great Property Management Tips, checkout these 5 Smart Ways to Trim Shopping Center Costs.
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