Property Management: The insiders guide

logoProperty Management is a challenging  job at the best of times.. It is a multifacet business that involves liaising with many different types of people (landlords, tenants, and contractors), understanding local landlord-tenant laws, and creating protocols that are both efficient and effective. The focus of every Property Management company is to maintain the quality property and keep the tenant turnover low.  But wading through the endless details of keeping a property running smoothly can choke your new career before you get started. Educate yourself and prepare before stepping into your new role as a property manager by mastering some of these key areas. For more information please visit https://www.facilityvip.com/ 

 

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Maintain Transparency

 

Maintaining a high level of transparency with condo owners will establish a credibility of Property Management companies amongst their clients. Companies should provide clear directions and timelines for individuals wanting to view a condo building’s records. Owners should have smooth access to records as quickly as possible, so that they can understand their buildings’ finances and have a clear idea of the budget, plans, and expenses impacting their homes.

 

Communication Protocol

It is easy to get bogged down in this busy industry in finding yourself playing phone tag or unraveling a seemingly endless string of emails. This is also one of the quickest ways to frustrate and risk losing a valuable client. Before you end up in this trap, develop and implement a communications protocol that makes sense for everyone. Obviously you can’t always be available, but by establishing a mutually agreeable method of communication, and specified turnaround time, you will keep communications flowing smoothly and efficiently.

Handy Contingency Plan

Property management is a complex job where there will always be situations where things go wrong and you have to be prepared to handle those situations as they arise. Having a ready contingency plan or plan B in place that you can immediately refer to in the event of an accident or crisis can make a difference between a speedy resolution and a stressful and messy situation.

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Reduce Clutter and invest in Property Management software

This industry is wrought with paperwork – it’s the nature of the beast. Keep detailed files, stay on top of your paperwork as it comes in, and utilize organizational tools like property management software to help ensure that everything is always in its place. That way you will always be able to find what you need, when you need it, and you’ll have a clean workspace to help you stay focused.

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Maintain a healthy relationship with plumbers, electricians, cleaning companies, and other skilled trades people

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The ability to effectively manage a property often hinges upon your relationships – not only with your clients, but with the vendors who can make or break your services. Your vendors can have direct impact in providing cost effective services in lesser turnaround time. With good relationships, you can often negotiate better pricing, and ensure that you have people standing by prepared to handle problems as they come up. This keeps your fees low, while, ensuring your clients receive good service on time.

If you’re looking for one of the leading property management companies then please don’t hesitate to visit https://www.facilityvip.com/ and get in touch with one of the team who will be more than happy to help you out.

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