12 things insanely productive Property Managers do differently

Article by PropertyMe 1 February 2022

It’s easy to become mired in the routine tasks of property management. However, to have the best work-life balance possible, there are some changes you can make to your work habits to be more productive. Find more time to focus on what matters most and avoid any late nights with these productivity hacks.

By applying these habits to your routine, you’ll be able to improve your communication and reporting as well as increase productivity while enjoying a better work-life balance.

With those goals in mind, consider the following 12 things that insanely productive Property Managers do differently:

1. Streamline communication

Streamlining communication is one of the best ways to increase productivity in the property management business. One of the best first steps toward facilitating communication is creating a template for every situation and making those templates readily available online. For example, providing tenants with a maintenance request form that they can easily download whenever they need to submit a request will not only make their lives easier, but it will make yours easier as well.

2. Stay up to date with industry issues

Staying up-to-date on things like real estate trends, local rental rates, and regulations that affect your industry is essential for success and overall productivity. Property owners expect their managers to be knowledgeable, so you always need to stay on top of industry issues.

3. Keep their cup full

You can’t take care of others until you take care of yourself. A big part of Property Management is working with and helping other people achieve their goals. To show up as your best, it’s important to give yourself the time to take care of yourself and restore your energy each day. We’ve put together some tips on how to avoid burnout to help you thrive in your role while maintaining essential self-care habits for your wellbeing. 

4. Have a system for attracting the best tenants

Property Managers can certainly be proactive in avoiding stressful situations by creating a system to screen and bring in quality tenants. For greater productivity, having an automated process in place for conducting background checks, collecting security deposits from new tenants, and processing related paperwork can go a long way.

Some tips to attract your best tenants:

• Lay out your tenant criteria beforehand
• Write a compelling listing
• Don’t skimp on professional photography
• Regular maintenance is key
• Thoroughly screen your tenants
• Use property management software to stay organised

5. Think ahead

A productive property manager isn’t afraid of new technologies. As the industry evolves, more property management software and cloud-based solutions become available, providing more efficiency and ease. If you want to stay ahead in this ever-changing industry, you’ll need to embrace these solutions.

6. Set goals and have long-term strategies in place.

Surprisingly, so many Property Managers do not set goals. When you put long-term strategies in place and set goals, you will become motivated and highly focused.

The following are questions that Property Managers must ask themselves when setting up a strategy:

• How is my performance as it relates to tenant retention?
• What improvements can I make to my processes and procedures to better serve tenants and property owners?
• How can I cut costs?
• Are my property owners and tenants satisfied with my services?
• How efficient am I when collecting rent, making deposits, etc.?

7. Engage with their tenants and clients

Forging genuine relationships with tenants is crucial to successful and productive property management. Property Managers need to take time and engage with tenants to get to know them more personally. You can get a lot from just chitchatting with them.

8. Keep their eye on growth

A successful and effective property manager will always look for opportunities to grow by taking full advantage of each marketing avenue available. That involves joining local groups dedicated to real estate, plugging into industry networks, and finding new places to market online.

9. Maintain their properties

When it comes to successful property management, first impressions do matter. How your property is presented will ultimately determine your long-term success. Before a new tenant moves in, it is also wise to conduct a thorough inspection and create a report to identify any potential issues.

10. Keep the fire burning

Success in any endeavour often comes from having enough drive and inspiration for what you do. These Property Managers are good at avoiding distractions and remain primarily concerned with growth and personal improvement.

Some ways you can maintain your motivation include:

• Dedicate themselves to finding new and innovative solutions
• Conduct research
• Join associations
• Attend seminars

11. Complete quarterly property inspections

Effective Property Managers are the ones that conduct regular and thorough property inspections.

Reasons for conducting regular property inspections include:

• Maintaining and increasing property value.
• Identifying problem areas where maintenance and repairs are needed.
• Watching for any illegal activity on site.
• Boosting tenant retention

You should conduct and log inspections in three-month intervals.

12. Keep documents organised in the cloud

Property Managers deal with a lot of paperwork on top of their other daily tasks. However, when you have an excellent, cloud-based file management solution in place, you’ll be more efficient and ready for anything that comes your way.

Some of the files you can coordinate using property management software include:

• Notices regarding property maintenance
• Rental payment records
• Inspection records
• Security deposits
• Eviction paperwork

Doing things differently for improved success

The fast-paced nature of the job can sometimes make being a property manager incredibly stressful. That’s why it is crucial to have the right abilities and skills to stay out in front and be at the top of your game.

With determination, drive, and a little self-discipline, these habits should help you improve your professional life as a property manager and your personal life.