Separate Routine from Occasion
The most important part of streamlining property management is to establish a routine as best as possible. If the routine needs to be adjusted, it should be adjusted over time and with caution as to whether or not the changes were truly an improvement. A great example of this would be in landscaping: Is it better to alternate the same landscaping team to three different properties, or would it be better to use different teams for different sites? When is it best for them to arrive?
The other side of routine is occasion. Perhaps a tree cracks in the wind and it needs to be removed. This isn’t something that can be scheduled around, and it is often a problem for tenants and in closing sales of an uninhabited property. Having a list of some of the potential dangers or repairs that could be needed in an instant is a great plan. It is highly advised that a contact list be established for such problems, and backups are also recommended for the events where time is of the essence. Once a routine and emergency contacts are accounted for, a significant burden of effort will be removed from the equation.
Lines of Communication
The absolute most disruptive part of any given property management situation is the inability to communicate with the owners, tenants, sales representatives, construction workers and other key entities that might be involved in the property while it’s being managed. If there is poor communication, there is likely to be an issue somewhere down the road. It is crucial to establish great lines of communication, as a single mishap could lose a sale. If it took months to bring that sale towards a close, that’s a very big deal for the people involved in the sale. Rather than lose money, they lose both money and time in these situations. Any complication in property management can usually be fixed through effective communication, so having preferred lines of communication such as text, email, phone calls or in-person meetings as streamlined as possible from day one will make a significantly positive difference.
Once routines have been established, potential events have been prepared for and great communication is in place, everything becomes a simple matter of management. How each property manager runs their properties will vary, so the rest of the skills that property management entails are primarily a matter of preference from this point forward.