Lean staff and busy property managers mean that proper time management in the office is more important than ever. Falling just a few days behind can result in playing catch-up for days to come, something most offices cannot afford to do.
Streamlining office operations can go a long way toward instituting and utilizing proper time management techniques. Below are a few time-consuming procedures that you may want to consider eliminating in order to create more free time tomorrow. While you’re at it, take a look around your office – most of us all have our own time wasters that need to be eliminated.
Using obsolete technology has to rank as the biggest time-waster in any office. Double posting, creating reports that aren’t available from your current software, and checking and re-checking work because of inaccurate posting can take a major chunk of your time that is better spent looking for additional clients. Older computers and dated software can waste way more time than they will ever save, and should be eliminated when possible. Investing in newer technology and more integrated software will save office staff both time and frustration.
Using two or three separate software programs instead of one integrated one. Do you track your tenants in one program, while using a separate accounting program for company financials? Why not simply combine them? It will eliminate duplicate data entry (a major time- waster) and create a more accurate picture of your company’s financial health.
Copying, stamping, and depositing rent checks. If you manage less than 25 properties, this is probably not an issue, but for those processing hundreds of checks a month, this takes up a lot of time. Instead, encourage residents to pay rent online using a tenant portal. Money is deposited automatically, and tenants are provided with an automatic receipt, as well as access to their rent payment history.
Showing rentals to uninterested parties. Spending a few extra minutes pre-screening applicants can significantly reduce the time wasted showing properties to people with no plans to rent. Finding out a bit more about what they’re looking for, rather than explaining what you have available can help to eliminate those who are not a good fit.
The bottom line is that an investment in some newer technology and some common sense can have your property management office running lean and efficient on a daily basis.