Four dos and don’ts for Property Managers this holiday season

Property Management

Four dos and don’ts for Property Managers this holiday season

The holiday season is upon us once again, and the year seems to have gone by in a flash!

As a Property Manager, you are busy all year long, but there’s something about the holiday season that keeps those in the industry on their toes. As the new year approaches, there’s much to do leading up to, during, and after the season.

Any veteran Property Manager will tell you that the lead-up to the holidays is the busiest. There is rent to collect, repairs to organize, and tenancies to fill, but Property Managers also need to consider the preparation involved as tenants and owners go away for a holiday and prepare for how the holiday season will affect schedules.

With that in mind, we’ve put together this short but valuable guide of four seasonal “dos and don’ts” to make the Property Manager’s holiday a little merrier and a little brighter.

Do communicate with your tenants this holiday season

As a Property Manager, you should encourage your tenants to let you know if they are going away for the holidays, strictly to cover any safety or security concerns and better prepare you as the manager. Property Managers should also obtain emergency contact information if you need to contact them regarding urgent emergency-related issues, such as an emergency repair, burglary or break-in, or some other unforeseen event that results in property damage.

You should obtain this information from the property owner as well, for the same reasons.

Every Property Manager should ensure that there are systems in place to prepare everyone before the start of the holiday. Let tenants know about holiday schedules or office closures to ensure that rent payments and services continue without disruptions.

Don’t let your guard down

Thieves are known to target empty homes during the holiday season, so advise your tenants to check that their locks or alarms are in good working order, especially if they plan to go away for the holiday season. On your end, check any vacant properties before Christmas to ensure that they are secure, that bins are stored, and that the letterbox is empty to minimize any signs of vacancy at the property.

It is also essential that Property Managers track which trade service companies will be available during the holidays and which trades will be unavailable in case of an unforeseen emergency. Update your list of available trades and have them ready to provide to tenants should the need arise.

Do work to minimize vacancy rates

Looking at all those empty rentals can be a real drag at the end of the year and can put a damper on your New Year festivities. Instead of waiting for the holiday season to pass, make the extra effort to market your vacant properties before Christmas. It may seem counterintuitive, but people searching for available property rentals during the holiday season are more likely to be motivated renters. Remember, the New Year is a time of change for many people, so it is wise for Property Managers to take advantage of that and up their marketing efforts around this time.

Since most prospective renters will find your properties online, the holiday is the perfect time to focus on your digital marketing efforts. This Christmas, make sure that your online listings are reaching your target audience.

Don’t forget to set aside some time this holiday season to take care of yourself

Burnout is real. No one, including your owners, tenants, peers, and family, wants to start their new year off by dealing with a burnt-out Property Manager. Now is the time to search for new ways to carve out much-needed time for yourself while effectively and successfully managing and marketing the properties in your care.

The use of property management software can go a long way toward helping streamline your duties as a Property Manager and give you a much-needed break by putting all the resources you need to manage your properties at your fingertips. From scheduling to account management and everything in between, property management software can do wonders for increasing your efficiency and helping alleviate the stress that comes with the job.

The holiday season is a time for reflection

These are just a few ways that Property Managers can successfully survive the holiday season and prepare themselves for the upcoming year. The holiday season is also a great time for Property Managers to reflect on the past year, look at their strengths and weaknesses, and see how they can improve themselves in the year ahead.

There are five skills that all great Property Managers possess.

A New Year’s resolution is a great way to brush up on those skills and become the best Property Manager you can be.