Property managers lead jam-packed days and (often) nights. By the end of a workday, many may wonder where all their time went and what they accomplished on a given day. That’s where effective time management comes into play, something that’s a critical skill for busy property managers.
The phrase ‘time is fleeting’ is especially true for always-on-the-go property managers who juggle multiple properties and renters. Thankfully there are some tricks to the trade as well as some new technology that can keep time from slipping through your fingers. Here are a few suggestions.
As a property manager, it may be easy to fall victim to the idea that every task is critical because it is important to your renters. This is a myth. Some tasks should take priority over others.
Every day, property managers should take a look at their list of repairs, concerns, or issues and determine which ones are most pressing. Think of plumbing problems, safety issues, and issues that could lead to bigger problems if not dealt with immediately as your top priority. Make it a goal to complete three to five of them and get to the less critical problems later in the day or week.
If there are several renters or unit owners who are having similar issues such as landscape issues, HVAC maintenance, or paperwork questions, group them together and try to accomplish it as a chunk.
For instance, if many renters are having drain issues, hire a plumber to take care of each renter all in one day. Or if you have lots of accounting or paperwork issues, dedicate a chunk of time to only doing that type of work.
Utilize Technology for Organization
Technology can be a wonderful thing when used to keep your work streamlined. Try a new property management software that can keep you organized and focused on the task at hand.
Property management software can keep the paperwork organized and save time and energy when keeping track of maintenance, rent, and other daily tasks.
Delegate & Outsource
Property managers are good at many things: light repairs, paperwork, and fielding questions from renters. They should, however, leave the electrical work, plumbing, and other skilled work to the professionals.
It’s a good idea to have a list of loyal vendors that can be called upon in an emergency or for regular maintenance. This will save time and allow you to knock off a few other items on your to-do list while they do what they are trained to do.
When prioritizing tasks, including requested repairs, it’s a good idea to communicate when a task is expected to be completed. This may seem like a time-waster but, in the end, it will save you time from fielding calls about when the work will be done.
A newsletter or property manager website can help keep all of your properties or renters informed about what’s going on in their community.