We’re all aware that time is money, especially for a busy property manager! Being able to effectively implement time-saving strategies into your management techniques will not only save you time (and therefore money) and help you be more productive but can also help you if you decide to scale up your property management business.
To be as efficient as possible, it’s important to document what you do as a property manager. This includes things like how much time you’ve spent creating property listings, answering calls, and communicating with services you may be hiring for your properties. Initially, it may feel like an inconvenience, but it will help you know exactly how much time you need in the future for these tasks. Start off with tracking one week’s worth of work to get an idea of how your time is spent.
2. Schedule Your Work in Blocks
It’s easy to get into the habit of multi-tasking and it may even seem efficient at first glance, but scientific studies suggest it’s actually better to just focus on one thing at a time. This allows for more thorough and efficient work. This can be difficult if you’re a small business, but if your budget allows, it may be a good idea to hire more employees to handle other tasks. Instead of posting listings one at a time as you have them, schedule time for yourself to sit down and post several in a block. You’ll be focused on doing one thing, and doing it right –saving you time that you might have to spend correcting mistakes.
3. Schedule Your Tasks on a Calendar
It’s important to schedule time for your tasks – on a physical calendar. If you rely on a to-do list in your mind, you’re not only cluttering your mind with things you need to remember, but you may be putting unneeded stress on yourself. When your tasks are scheduled on a physical calendar, there’s less possibility of forgetting and you’re able to devote time thinking about the tasks at hand, rather than trying to remember everything you have to do today.
4. Create a System for Notes
How many times have you thought of something you need to do, only to be interrupted by a phone call or a tenant? These interruptions can be common occurrences for a busy property manager, so it’s important to have a system in place so you can write yourself notes that can be added to your calendar when you have the time. Note apps for your phone or computer like Evernote or Google Keep can be incredibly helpful to quickly jot down your thoughts or tasks until you have a moment to handle them. This will keep you organized and make sure you don’t end up dropping the ball on important tasks.
5. Create a Pre-Screening Survey
Screening tenants takes a lot of time. While working with our screening services will certainly speed things up for you, you can also create a pre-screening survey using Google Forms that you attach to your rental listings to quickly weed out tenants before you order a screening. This eliminates potential tenants who don’t fit (and didn’t read) your tenant requirements, saving you time and money!
6. Put Your Rental Criteria in a Photo in Your Listing
Many prospective tenants don’t bother reading a listing beyond price and location; this means that many tenants who reach out to you probably didn’t read the minimum criteria, like your pet policy, income standards, or smoking policy. Since renters DO look at the property photos, taking a screenshot of your criteria and posting it in the photo section of the listing is a great way to catch their attention and make prospective tenants more likely to read it.
7. Connect with Your Staff
Whether it’s a quick 10-minute casual briefing or a full-length formal meeting, it’s important to regularly check in with your staff to address any issues and make sure everyone understands the tasks assigned to them. Allow time for questions, comments, concerns, or clarifications to make sure the whole team is on the same page and save everyone confusion or frustration in the future.
8. Outsource Tasks
There are many services available that you can outsource mundane or tedious tasks to which will significantly lower your workload. One example would be live chat services; often times, outsourcing can allow you to reduce costs and time on these tasks – however, check with your local laws to make sure that the tasks are ones you’re legally allowed to outsource.
9. Prioritize Large Tasks
Most of us are probably guilty of occasionally putting off large, complicated, or annoying tasks. One strategy to help you get a start on them is to begin by starting with the easiest piece of the project first; the sense of accomplishment that comes from the small win will give you drive to tackle the next step, and before you know it, that troublesome task is done!
10. Screen Your Tenant
A problematic tenant can be incredibly time-consuming (and sometimes expensive!) to deal with; one bad tenant can take up weeks, sometimes even months to come to some form of resolution. Screening your tenant with our high-quality tenant screening services will not only save you time from screening them yourself, but it’ll also save you significant time and hassle from having to deal with problem tenants. Choose your screening package today or feel free to contact us with any questions!
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