Property Management 101 – My Tips To Retain Property Managers

1. Put systems and procedures into place – Property Managers are creatures of habit and love to know what is needed and required of them. They want to know that the work is ready to go and they don’t need to go searching for what to do next. They want to be reactive, not proactive.

2. Time management – Possibly the biggest gripe from Property Managers is that there is too much to do and not enough time to do it in. The systems and procedures will assist a great deal with this hurdle.

I have a policy that tenants cannot walk in without an appointment. This is not accepted in any other industry and should be explained at sign up. Ask your Admin Team to let the tenant know that they are sorry but you are in another appointment, when would you like to book?

My phone calls under 9 minutes rule has been a lifesaver. At the start of an unexpected call, especially when I know they like to chat, I explain that I am happy to discuss the issues but I only have 9 minutes until my next appointment. The caller expects to need to get through everything in this time and they do. Magic!

3. KPI’s – We all have goals and without our KPI or Key Performance Indicators, we have nothing to reach for. Give your Property Managers their clear set of KPI, give them time frames and reward the team and individuals with incentives.We all love to reach our goals.

4. Make your own luck – Things do not happen by themselves. Plan your year ahead for training, conferences and holidays. Your Property Managers need to learn and interact with peers and mentors and holidays are important so that they do not burn out. This helps to bond the team and they learn and grow together.

5. Give back to the community – I worked for a company who did community work one day a month. As a team they went to a person’s home or a charity group’s building and did whatever they needed for a half to a whole day. This could be cleaning up a farmyard, packing boxes of food goods for homeless or folding paper to put letters into envelopes. It is not about what you want to do, it is about doing what is needed. This can double as marketing for your Property Management Department.

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