What Does a Property Management Consultant Do?
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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.
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 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.
Here's how we do it.
A Compassionate Approach
We're not interested in presenting a highlight reel of everything that's wrong with your property management business. We bet that you're doing a lot of things right! 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 and care about your clients and serve them well.
- Through our deep-dive process, we often 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.
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 making 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. The best property management consultant should:
- 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. Without executing services that embody who you are, nothing separates you from competitors in your market.
Every Customer Service Aspect Is Critical
Not every property management consultant can evaluate every aspect of your business. The best consultant understands 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 a property management consultant do what they do best to help you.
A Consultant Helps You Do More
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. Contact us to schedule a consultation, and let us do what we do best so you can be your best.