Over the last few years I have been lucky enough to sit on the panel of a number of different property management training events. The reason I am asked back to these events is due to the fact I manage a 235 property portfolio.
I’ve hovered around this number for almost three years, and it is definitely not without its ups and downs – as I am sure you can imagine.
One of the most common questions I’m asked when sitting on a panel is, “How do you do it?” Well, if I could put it down to three things, those would be: knowledge of the legislation, time management and work place procedures.
Firstly, knowledge of the legislation … Knowledge is power! Make sure you are constantly attending training sessions – not only within your network but with your state Real Estate Institute and any other quality training companies. When you are up to date with the legislation and you know your laws your confidence is second to none. Investors can sense you know what you’re doing and tenants also tend not to challenge you as much when you can state the sections of your state legislation. Also, you don’t have to run around looking for someone to ask for answers when you know the answer yourself!
I am relentless when it comes to nagging my department manager to let me attend training sessions. In my opinion, when you stop wanting to learn you have lost your drive to succeed.
Secondly, time management… I don’t work off a strict daily/weekly planner but I sing all the praises in the world to those who can. I have my routines scheduled in each week and I try to stick to mornings for out of office work (eg. entries, exits, meetings with tenants/investors) and stay in the office in the afternoons to answer calls and emails. It doesn’t always go to plan but it’s a good guide to stick to. When you continuously get into this routine you will feel a little more at ease for your day as you know when you will get to certain tasks.
Each afternoon I write down a ‘to-do’ list for the next day…this helps me sleep at night. Anything unfinished from the day goes to the top of the list and so on and so forth. If I think of something while I am at home I just email myself and it is there the next day. I can safely say I don’t lose sleep over work…
Thirdly, workplace procedures… I cannot stress enough the importance of workplace procedures. If you have good procedures to work by, you won’t miss anything (also helps with the sleeping at night). Have a checklist for everything – applications, lease renewals, sign up procedures, exit procedures. This will be gold to you and also to your senior property manager/director as it holds accountability if something is missed.