How Property Managers Can Get Ahead of the Competition
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Updated June 7, 2022
It's no secret that property management companies have to work hard to stay ahead of the competition—especially when they feel behind. However, it can be difficult for a property manager to identify and fix what's holding them back!
Does that feel familiar? If you're struggling to break through the competition and grow your business, a property management coach can help in this process. In this blog post, we'll talk about some symptoms that could lead to the root causes of why you aren't leading your market (instead of chasing the frontrunners). We'll also help you with some property management tips and solutions to get past roadblocks to your success!
You Didn't Get Into the Property Management Business for Mediocrity
You probably didn’t start your company to be “a” property manager in your market. You enjoy being a property manager, and you knew you could serve more owners and tenants by building the best company and delivering "the" best services in your area!
So, why aren't you leading the competition? Wanting to set the standards for professional property management in your market and actually achieving it isn't easy.
If you're feeling behind the competition (or your goals), look for these issues that could be the reasons you're stuck behind more successful property managers.
Overloaded (Or Unqualified) Employees
Overloaded property management company employees with too many doors and not enough capacity to handle them all simply can't help you grow. They may be the best employees in the industry, but overwhelming workloads will weigh them down and keep them from being more productive.
What if your staff members have the ideal amount of work on their plates? Staff members who aren't qualified for their roles simply can’t help maintain the level of service that will make you proud! A lack of training and resources can keep your business from dominating the market. When employees don't understand their roles or how to do them well, professional rental managers lose customers.
When was the last time you reviewed your property management process? Outdated processes slow the work (and your employees) down while other property management companies pass you by. When processes are outdated, your employees don't have the best tools to serve owners and tenants.
Processes can either work for you—or against you. Ineffective systems and workflows take too long and create inefficiencies and mistakes. If your team spends too much time fixing the system, going through workarounds, or fixing errors, your processes need an update! Your workflows are keeping you from more success.
The Wrong (or No) Software
It might have seemed like a good idea at the time, but not all property management software or technology solutions are the right fit for your business. The wrong software can make property management professionals feel overwhelmed or get in the way of their work! If you're using the wrong technology or software, it could be causing stress for your team and leading to more problems than the software is worth.
What's the Diagnosis for Your Property Management Company?
If any of these symptoms sound familiar, your company's health is on the line! It's possible to function with overworked staff, inefficient processes, and the wrong technology for a while—but it won't last long or lead you to the top in your market.
It's time to stop working the wrong way and build healthier habits to help you dominate your market and enjoy more success as a property manager. Remember: you didn't get into this business to stay at (or beneath) the status quo! These critical issues are holding you back, but we have good news: your situation isn't terminal!
Take Steps to Leave Unhealthy Habits Behind
What can you do? If you're not sure how to fix what ails your property management company or where to start, a property management coach can help! The right coach can:
- Analyze processes and put better workflows in place
- Review your current software and recommend the right technology solutions to fit your business and goals
- Interview employees and make sure they're the best fit for their roles
- Implement property management training to equip team members for success with new processes and software
Getting the right team members in the right roles, training them well, and giving them the technology and processes they need helps them serve clients better! You'll also find that your staff has more room on their plates to manage more doors and help your business grow.
When your property management business operates at optimal health, you're ready to disrupt your market and stand out from the competition!
Lead (Don't Chase) Your Competition With a Property Management Coach!
Many things could be holding your property management business back from beating the competition in your market. Whether it's outdated processes, the wrong software, or untrained employees—your business can't succeed without healthier habits.
Would you like to get healthy and lead (instead of chase) the competition as a more successful property manager? Real-Time Consulting Services helps property managers stand out in their markets by improving company infrastructure issues and implementing new strategies for success. If this sounds like something worth exploring together, let us know! We would love to help make a difference at your company with our expertise. Your success is our priority!