What Does a Property Management Consultant Do? We're Here to Help
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Published January 14, 2021. Updated September 25, 2023.
We've talked about what a consultant is and how we help property management business owners grow a business—but what does a property management consultant do?
We understand that hiring a consultant can create concern for your employees. It can also be uncomfortable for business owners to let an 'outsider look' under the hood and 'pick apart' a business you've put your heart and soul into. So, understanding what we do can help property managers and their teams be more receptive to the experience a team like ours can bring to your business when working toward more success.
Here's how and what we do!
Experience Leads the Way
As an experienced consultant who has worked with companies of all sizes in various situations, we can assure you that we don't come in with the intent to tear down everything you've built. We also don't wave a magic wand that creates a more successful company.
It's not our job to make anyone feel bad about the way they do business. Instead, we focus on helping you experience more success for your property management company with an approach that's thorough, sensitive, and without bias.
While this process can include deconstructing existing operations and identifying problems, our goal is a positive experience that:
Encourages your team
Improves your processes
Keeps you current with the latest technology
Helps you move forward as a leaner, more profitable company
Your success is why we're here! Having worked with many property management companies to help them grow, we've learned that focusing on you, your goals, and your operations translates into a better experience for everyone.
We Take a Compassionate Approach
Having the curtains pulled back on what's not working for your business can be unpleasant, but that's not our goal. We're not interested in presenting a highlight reel of everything that's wrong with your property management business.
We bet you're doing a lot of things right as an excellent property manager and business owner!
However, underlying issues (even the smallest problems) can become roadblocks to more success—and that's where we come in. We know your employees work hard, care about your clients, and serve them well. We're not here to point fingers or erode the confidence or hard work your team members deliver.
Often, through our deep-dive process, we find that inefficient processes and redundancies hold back your best employees from doing more—and being happier in their roles!
We also discover that some team members are simply not utilized to their strengths. When we redirect them to better uses of their skills and talents while improving the processes and tools they need for success, employees thrive—and your business grows.
Hard Conversations Lead to Growth
These can be hard realizations and difficult conversations, but the best property management consultant brings a compassionate approach to our consulting services.
We don't want to be 'the bad guy.' However, without hard research into everything you do—and without some important conversations to make effective changes—your business stays stagnant.
The Lifecycle of Property Management Is Our Guide
While we might recommend new technology solutions, processes, and personnel adjustments, the basics of property management aren't anything new. The best way to analyze your operations is to diagnose the aspects of what you do throughout each step of the property management lifecycle.
We take a 'hands-on' approach to your business by diving in and making a forensic diagnosis of your business from its foundation to the top.
Speak to all key players in your business
Understand your company culture and structure
Incorporate that structure when establishing processes that help your business run well
When working through this diagnostic process, it's critical to determine if your processes, workflow management, and technology all tie into your core values as a company. It's also crucial that these elements support those basics we mentioned: the lifecycle of a property under management.
Without executing services that embody who you are, nothing separates you from competitors in your market. From the basics of property management to your team and culture, it all must work together for more success!
Every Aspect of Customer Service Is Critical
Not every property management coach can evaluate every aspect of your business.
However, the best consultants, like Deb Newell and the team here at Real-Time Consulting Services, understand the property management industry and best practices to help you do more, including:
How you market rental properties and onboard new rentals
The leasing process (including renewals)
Showings, move-in and move-out procedures, and rent collection
Maintenance and inspection services
Accounting and financials
Deep-diving into these processes helps us determine where you could do more for your clients—but your service offerings are only part of what you need to do to build a successful property management business.
Your Business-Building Skills Matter, Too
Many property management business owners are excellent property managers, but they need help with the business side of starting and growing a company.
Business owners need a mentor who can:
Conduct a business process overview
Help build your mission statement and core values, then connect those elements to your marketing and services
Introduce and implement third-party solutions
Provide customized documentation for processes, job descriptions, and business structure
Train employees and help owners make better hiring decisions
Assess profitability and recommend custom solutions to increase revenue
If any of these things aren't familiar or currently part of your business strategy, it's time to let our team do what we do best to help you.
A Consultant Delivers the Best Property Management Solutions for Growth
Being the best property management consultant isn't about being the smartest person in the room with all the answers for your success. Our job is to help you do more by bringing our experience to your table and enhancing what you already do well.
If you're looking for better property management solutions to help your business grow, Real-Time Consulting Services can help! Contact us to schedule a consultation, and let us do what we do best so you can be your best.