Ensure you never miss an issue of the
real estate business bulletin
The hidden gems on your property manager’s desk

The hidden gems on your property manager’s desk

by Deborah Mitchell 0 comments

A property manager’s desk reveals unseen tasks lying in wait, neatly stored in an in-tray. Out of sight, out of mind!

I had a tenant seeking clarification of his obligations in regards to his notice to leave. I find awareness of property movement within the office is essential, however, I did not know of this particular notice to leave.

So I set about finding the information, only to discover several items positioned within an in-tray. This left only the property manager aware of this notice. After supplying the tenant with the required information, he was grateful and left feeling as though he had his questions answered.

Returning to the in-tray, I discovered three notices to leave sent, no reminders set up for follow-up activity, six unactioned lease renewals and an array of unpaid invoices, among other unfinished items. No wonder the staff member was perplexed. Luckily, none was overdue.

However, this did start me wondering how many unsuspecting principals don’t see the hidden time bombs lurking on property managers' desks – then only find out when managements are being lost to other agents, or owners complain about the service being offered by his or her agency?

This time things were quickly rectified by showing the property manager how to handle her tasks efficiently and within designated time frames, which had a flow-on effect and increased productivity. Crisis averted, but it could just as easily have had a different ending.

As in most cases, I see principals offering the aggrieved landlord free management or some other inducement. Over time this accumulates, leaving the principal out of pocket and not receiving return on his or her investment. Are we protecting ourselves from within? Or are we just ignoring what we know is happening right under our noses because we don’t want to rock the boat? Principals are often worried that if something is said, his or her staff will resign.

A friend has always said: “What cannot be measured cannot be managed; what cannot be managed cannot be measured.”

What a wonderful management tool. The solution can be simple: getting all of your property managers to use the same processes can have a significant impact on productivity and overall efficiency levels within your office.

 

The hidden gems on your property manager’s desk
lawyersweekly logo

Deborah ensures compliance of management systems through conducting weekly and monthly audits, staff training and coaches, mentors and trains asset management

teams. She ensures her clients gain growth within their market place.

Previously, Deborah has helped guide asset management teams to achieve high levels of professional and personal satisfaction. Now she assists principals to gain a higher return on their investment, as well as assisting with strategies on retention of staff and managements alike, by enhancing productivity and efficiencies within the workplace.

More articles from this author:
promoted content
Recommended by Spike Native Network
Listen to other installment of the Real Estate Business Podcast
reb top 100 agents 2017

The REB Top 100 Agents ranking is the foremost ranking of agents in Australia. It has set the bar for excellence in Australian real estate. To be ranked as an REB Top 100 Agent is the standard real estate professionals strive for. See the full 2018 ranking here!

featured podcast

featured podcast
An industry where the resilient succeeds

Tim Heavyside believes that a strong support team and good foundations are paramount to success in the real estate industry, and with regu...

View all podcasts

Would you consider working for Purplebricks or a similar 'DIY' model?

Yes (7.2%)
No (80.9%)
Perhaps - make me an offer (12%)

Total votes: 209
The voting for this poll has ended on: July 13, 2018
Do you have an industry update?