A property manager, manages properties on behalf of the property owners. They handle things like maintenance, repairs, tenant selection, etc. If you’re a property manager, you already know how hectic these things can be. However, if you follow these guidelines, you can make your property management job easier and complete all the tasks efficiently.
6 Efficient Ways To Manage Properties
1. Plan Your Day
If you look at the most efficient people around you, you’ll see that they always plan their day. As a real estate agent, you’ll have to handle recurring tasks like calling your clients, meeting with the tenants, reminding them about rent, replying to emails or phone calls, etc. You can complete these recurring tasks efficiently by creating a checklist. Thus, you’ll have a map on your mind of when to complete which task.
Also, as a part of the day plan, you can put the most important task first in your daily schedule. For example, screening the tenants or meeting with new clients.
2. Have A Set Time for Phone Calls and Emails
As a real estate manager, you’ll have to make or receive hundreds of phone calls and emails every day. But if you continuously answer or reply to these calls and emails, you’ll be spending your day inefficiently. Besides, you can get easily distracted while receiving these emails and calls. To solve this, you can have a set time to answer all the calls and emails. Also, you can use chatbots to reply to texts.
3. Automate the Rent Payments
A rent payment reminder is one of the most crucial tasks of a property manager. But you can automate this task by using rent payment automation tools. By using these tools, you won’t have to send rent payment reminders manually or visit the bank each time.
4. Automate Bookkeeping
Similar to the rent payment reminder, you can automate your bookkeeping tasks. You only have to enter into your bookkeeping software account and enter all the figures. And the computer will calculate all the numbers. You just have to download the report and send it to your clients. So, no more spending hours calculating all the figures and making reports.
5. Avoid Micromanagement
In micromanagement, employers closely monitor their employees. But as a real estate manager, if you try to micromanage, your efficiency will come down a lot. If you have hired someone on your team, let them complete their tasks independently. Besides, when you monitor them so much, they can feel pressurized and underperform.
6. Don’t Do Everything Yourself
Often, property managers try to complete all the tasks by themselves. But when you try to do it all by yourself, you end up achieving very less. That’s why if you have a team, transfer some of your duties to them. For example, you can pass the duty of routine maintenance to your team member. Or, if you have a qualified team member, you can delegate the task of screening tenants to him/her.
