Solving the 3 Most Pervasive Problems in Property Management
How Three Real Estate Companies Became More Efficient
We spoke to hundreds of property managers about the most common issues they face in the day-to-day management of their buildings. Their responses were variations of the same theme: a lack of standardization and the inability to make routine tasks run automatically, resulting in wasted time and money – and inefficiency.
Below are three examples of the most pervasive problems in property management – and our recommended solutions for each:
Property Problem #1
Sharon in Boston had this problem every winter – building staff members would be unexpectedly absent or go on vacation – and whoever is covering has no idea what’s going on at that property.
SOLUTION: Work can’t stop because someone is out of the office. Sharon needed a way to give all team members access to centralized information, with property-specific details on due dates, equipment, open tenant requests, and more.
Property Problem #2
Lance in New Jersey has a team of 6 property managers. A few have been on the job for years, and know their buildings inside and out, while others just started. How can Lance take all the knowledge his seasoned property managers have in their heads and instantly transfer it to the newcomers?
SOLUTION: Your team’s processes and best practices shouldn’t be buried in forgotten memos, emails, and binders. Managing records, routines, and reporting in InCheck allowed Lance to make this information instantly accessible and updated for the whole team.
Property Problem #3
Rob is the Director of Property Management for a company in Raleigh. Each time he prepares for his quarterly meeting with the C-suite, he struggles to show building and team performance, and make recommendations as to where staff need more resources or better processes, because these types of metrics are just not available.
SOLUTION: Great companies create processes they can repeat and use to grow. Without data on where inefficiencies are, it’s impossible to become more efficient. What if Rob could audit performance on a building-by-building, employee-by-employee basis?