Tuesday, May 21

Helpful Property Management Tips

It does not matter what someone does or who they are, there is no question that time is money. When it comes to managing one or more properties, making the most of the time available is essential. The good news is, there are a few time-saving tips that can be used to make real estate management easier. Along with taking a cue from NRIA, implement the tips below, as well.

Document Everything

Proper managers are encouraged to document all interactions with their tenants, which means this should be second nature. To increase efficiency, it is important first to document everything. This should not be general statements of what is done, but how much time is being spent on every project. This includes setting up listings, showing property, answering calls, and communicating with others.

This may be a pain, but it is good to track a week or two of tasks to get a better idea of how time is being spent. This will be invaluable when it comes to using time more efficiently.

Batch Work into Blocks of Time

For years, people have talked about the benefits of multitasking. However, today, many experts in the industry agree that focusing on a single task at a time is best. While this may be difficult for smaller businesses, it will pay off in the long run. It is good to begin batching all the rental listings into a single block of time to get into a flow with work. Some scientific studies have proven that switching tasks (multitasking) isn’t efficient for property managers or anyone else.

Schedule Time Carefully

If a property manager doesn’t use some type of scheduling system for their to-dos, those tasks won’t exist anywhere but in their minds. The more things that stay inside a person’s head, rather than on their calendar, the more likely the people are to feel stressed out and overwhelmed when trying to keep up with everything that needs to be done.

When putting something in the calendar, try to think less about everything else that needs to be done. Instead, focus on the one thing that should be done now.

Create a System to Keep Notes

Throughout the day, things may pop into a person’s head, such as something they need to do. The next thing that happens the phone rings and they completely forget about it. At this point, they will be racking their minds trying to remember what they needed to do.

It is important to create a system for taking notes. This can be done with a note app or another method. The goal of this is to go through the notes at the end of the day and add them to the calendar.

When it comes to property and real estate management, there is an array of issues that need to be handled. Be sure to keep the information here in mind to make the most of the time that a person has and to ensure everything remains organized and easy to find.