There’s a lot more to property management than just looking after a building and its grounds. The alert property management firm knows that to be competitive, taking care of the residents who rely on you is a top priority. Smart property management tactics ensure a happier community and a better return on investment. Here are four keys to smarter property management.
- Take Advantage of Technology
The use of cutting-edge technology is essential for today’s property manager, says Rick Hoegler, CEO of Pan American Properties. “An alert property manager should eliminate paper any way they can,” he says. This means having an online system in place that benefits both managers and residents.
Property management software should make the application process easier for everyone. For applicants, filling out forms should be convenient and flexible. The manager should be able to run background screening and other essential steps within the platform.
With carefully designed automation, barriers to leasing vanish. “Residents can literally lease a place 24 hours a day,” Rick says, so that if they are a night owl or they work the graveyard shift, they can still fit in an application at a time that works best for their schedule. “They can sign their lease using DocuSign,” Rick continues. “All of it is seamless and streamlined.”
Maintenance is another area of the business that benefits from being done online. “If we need to send out text messages or email blasts with reminders, we can do it online,” Rick says. Pan American also uses dashboards to track the status of properties, and they utilize owner and tenant portals, where owners can check maintenance requests, and tenants can check their rent status, renter’s insurance, and other relevant matters online in real time.
The bottom line is transparency. “If you’re an independent owner, how do you stay on top of everything? Technology is key,” Rick says.
- Hire the Right People
Another key to being an alert property manager is hiring the right people. Property management is a relationship-driven business. Employees need to know how to be fair but firm as they deliver service to residents while protecting the building owner’s interests.
“Good customer service people aren’t going to get walked on,” Rick says. And when issues arise that require additional research, the right people won’t act without exploring the matter fully. “What’s key is to investigate before you instigate,” he says.
- Train the Team Well
Having the people with the right mindset is only the start. They also need the right skills to be successful.
Pan American employs a dedicated trainer. Training can be done a number of ways: in person or remotely, and on a one-on-one or group basis. A flexible mix of training options allows the process to fit around schedules and the demands of the job.
A strong training program ensures everyone is on board with what’s going on in the industry at large, and the company specifically, which can be everything from how to use portals to dashboards to a rental app that people can access on their phones, and how rental insurance works. “As an owner, when you have so many things to think about, from rental deposits to budgets, I don’t see how you can stay on top of things without technology and trainers to keep you updated,” Rick says.
- Close Leadership from the Top
Property oversight by corporate staff is another key to ensuring success. Building managers sometimes need a guiding hand to address challenges or to recognize when a situation requires a novel approach. Leadership from a more experienced professional can make all the difference.
Pan American employs supervisor coaches on site to consistently monitor what’s going on at each property within the portfolio. “We always want to make sure we are meeting or exceeding our owners’ objectives and expectations,” Rick says.
And finally, experience matters. “Pan American’s top three executives have their Certified Project Management (CPM) licenses, and more than 60 years of experience in the industry. This is in addition to the thousands of hours of experience of the rest of the staff. Not many property management firms can say that,” Rick says.
Why You Should Hire Pan American Properties
How much is your time worth? With three Certified Property Managers on board, dedicated trainers, and a mission to stay on top of the latest technology in order to meet and exceed our clients’ expectations, you can’t afford not to hire Pan American to help you be an alert property manager and conduct your business effectively and competitively. Call us today at (888) 754-9700 or email us at [email protected].