How Disorganization Is Hurting Your Property Management Business
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Do you feel like your property management business is in a rut? Do you have trouble keeping up with the demands of running your property management company because it's just too much to keep track of everything at once? You may be suffering from disorganization!
Today we'll help you understand how disorganization could be hurting your property management business and why it's critical for business owners to prioritize structure and organization to operate a healthy (and growing) company!
The Importance of Organization Is Often Overlooked
Organization is often overlooked as a critical aspect of business success, but disorganization can quickly take down your company! When your property management company is in a state of disorganization, it's challenging to keep up with the demands and day-to-day operations—and client service suffers.
You may experience many types of mistakes that can hurt your business reputation or even cause you to lose clients! If you experience any of these issues, disorganization could be the culprit:
When people don't have an appointment scheduled for a property, they would normally call the property management company or schedule a showing online. If potential new clients can't figure out how to book a meeting with you, they'll never add their doors to your management services. When your phone system or website is disorganized and not up to date with available appointments or properties, it's impossible to connect with the people you need to grow your business!
Without a properly maintained filing system with all of the necessary files in an organized fashion (such as by property owner or tenant name), you're going to have a hard time finding any properties or accounts whenever they need something. When this happens, clients are less likely to use your services because it takes too long for account updates—and without those updates, how do you generate revenue?
Misplaced Contact Information
If records aren't backed up every month, and old contacts get deleted from outdated software systems like Excel spreadsheets, it's impossible to reconnect with old clients or your database of screen tenants that could be the right fit for an empty rental. Without contact information for everyone who has ever been in your business, you'll end up missing out on potential opportunities--and sometimes those missed connections have the power to lead to an entirely new client!
Inefficient Processes and Employees
Time-consuming processes that don't work well together can cause complications when there are many tasks to handle for clients, properties, or tenants. Property management employees need to be on their game and knowledgeable about what's going on at all times, which means they should have an efficient process for completing tasks—and you'll never get the best out of them if it takes too long for different departments or managers to communicate with one another.
Poor Communication With Employees and Clients
When employees don't know what other team members are doing, no one will be able to keep track of updates or progress. It may seem like this isn’t much more than wasted time, but poor communication issues could also exist between clients who aren’t satisfied because they're not getting help from your staff.
Lack of organization hurts your ability to serve existing property owners and tenants well. It also leaves you without the capacity to grow and take on new doors! Prioritizing organization is one of the best things you can do for your business success.
What Steps Can Property Managers Take to Get Organized?
As a property manager, it can be hard when there are so many things that need to be done at once, and all of them seem equally important. However, letting disorganization continue to spiral out of control hurts your business and delays growth.
If you frequently deal with lost documents, frustrated clients, confused employees, and lost opportunities, it's time to get organized. Start by:
- Being honest. The first toward becoming more organized is to admit you have a problem!
- Documenting the problems. From losing contact information to missing scheduled appointments, make a list of everything that could be a symptom of lacking organization.
- Exploring solutions. Whether it's new property management software or optimizing your processes (or both), explore potential solutions to bring more organization into your company's structure.
- Asking for help. Sometimes understanding how deep your company's disorganization goes is challenging without an experienced set of third-party eyes. Work with a property management coach to tackle an organizational mess and get it on track for better efficiency!
The right property management trainer can identify areas for improvement, develop a plan, help you implement new processes and technology, and train your team to become a well-oiled and efficient machine!
A Property Management Coach Brings Organization to Your Organization!
If it's challenging to keep up with the day-to-day tasks of running your property management business, it may be time for a change. Disorganization can lead to problems like missed appointments, lost documents, and unhappy clients—which all contribute to decreased revenue and missed opportunities. If this sounds familiar or if you want an expert opinion on how best to stay organized to achieve success, Real-Time Consulting Services is here to help! Let's schedule a free consultation.
Learning more about what it takes to run a healthy property management business is easy with our free "10-Point Inspection Checklist." Download yours today!