How To Maximise Your Property Management Company and Run It Successfully?
Running a business and keeping it afloat is work enough. Add in the fact that 2020 has been an insane year for everyone and that everyone is looking to optimise their businesses, we believe that the property industry has been hit as well.
Of course in every business, everyone wants to make sure that they optimise their business and company. But is this different when it comes to a property management company? A property management company is its own beast.
So how do you run a successful property management company and optimise it at the same time?
Optimise Your Online Presence
When you’ve built your company, you will now need to market your company. Old school methods might work for word of mouth marketing but in today’s day and age, you will need to focus on a more digital presence.
Google Search is the way everyone finds what they want today. As a property management company, you will want to have a presence for landlords and tenants as well.
For Landlords :
- You should have services that you provide for tenants
- Your pricing structure
- Why you’re different
- How you help them in the process
- What is the process of leasing/selling their house
For Tenants :
- The listings you have
- The process of renting a home
- How long it might take them to be able to sign a lease
Once you have this your potential clients will find you a lot easier and be able to make decisions a lot faster. The more information you give the better. Getting a dedicate web developer to build your website is also crucial so that you have something that is made just for your brand. Always have a lead form or a way for your potential clients to contact you.
Build and Optimise Your Team
Your property management company will succeed if you build a good team and continue to optimise your team. If you don’t have the right people with you, you might not be able to get all the clients that you deserve to get. Coupled with good property management software, you would not need to hire as many people compared to before.
Here are some of the people we think you would need to succeed as a property management company.
Real estate agents - You need a couple of really good real estate agents that are trained up to your standards and are able to make sales easily. They need to be quick on their toes and are quick-thinking so that they can sell the house as efficiently as possible.
Finance / Accountants - Hire someone that is used to working in the real estate industry because it’ll be easier to have someone that is well-versed in the legal and accountancy matters of the industry as it’s very different compared to other industries.
Contractors - This is extremely important to have contractors that you trust. These contractors will come and help you fix up the houses if needed. To have a few people you can trust is extremely important so that you can call them up immediately whenever needed.
Leverage on Property Management Software
Like we said software will really help when it comes to optimising your company. Here is a checklist of the things you will need to look out for when you’re getting your own software :
- Ability to vet tenants
- Invoice and receipt creation
- Rental tracking
- Landlord payment tracking
- Financial record management
- Maintenance request management
With all of these tools in the software, you will be able to run a pretty smooth company.
If you’re looking for your property management software, well look no further than T+!
Book a demo today with us! Drop us an email (CLICK!!)