Are you a real estate agent? or a property management company? Having being in the industry for years, here are 4 tips that will help you scale your property management business in a short timespan. Everything that exists has been done since the dawn of leasing properties. Properties are all around us from where you are currently staying, professional termed as a residential property, to where your business is located, professional termed as a commercial property. Managing properties is not an easy task, not until now. Here are the 4 tips that the best property management companies are using to scale their property management firms in a short-time span:
PROPERTY MANAGEMENT TIP #4 CONNECTIONS
Know people! connections are how you will get clients, well not just connections, you need a reputation to go hand in hand. Does your work speak for you? Can your clients freely refer you to others? If the answer is no, then you are failing in property management.
Building a strong network is crucial in the property management industry. Attend networking events, join industry associations, and engage in online forums where property owners and investors gather. The more property owners know you and trust your expertise, the more likely they are to refer your services and seek you out when they need property management.
PROPERTY MANAGEMENT TIP #3 PRIORITIZE ACCOUNTING
A huge part in property management is accounting. Get the math wrong, Get yourself behind bars. Property owners don't just trust anyone and they are justified for that. Handling money is a volatile subject everywhere in the world, not just Kenya. That's why property owners will want to know who else is doing business with you. Building a portfolio such as this: click here.
Invoicing, billing and expense management is very important, you need to master this skill or take advantage of tools that have. Getting a tool that does all these for you is not easy. Automatic invoincing, billing and expense management seems to be where some real estate agents and property managers walk away from. It can leave you in a frenzy for weeks, before you know it the next month is upon you. So, take advantage of the tools availed to you and focus in winning new property owners to your portfolio with seamless accounting and less stress
PROPERTY MANAGEMENT TIP #2 OPTIMIZE TENANT MANAGEMENT
Not all tenants are sent from heaven, some are a headache. Ever had a tenant phone the landlord in matters regarding the properties? Or a tenant that lives rent-free? For property managers that want to scale, amazing tenant = stress free end months.To optimize tenant screening is to minimize these headaches.
Now that you have tenants, how do you manage them in a way they don't involve the landlord. How do you monitor what needs to be fixed, when water is not available, electricity is an issue and all issues tenants face? Do you have CRM software that enables a 2 way communication system. There is an issue, they raise it directly in realtime and it is dealt with in realtime. A Fluid system will let you scale faster.
PROPERTY MANAGEMENT TIP #1 REASSURE YOUR PROPERTY OWNERS
Property owners want to know what is happening to their properties in real-time. So, reassuring property owners every now and then is very important, don't have them call you, you call them! Better yet, let them know in real-time what is happening to their properties. Picture this, your own branded portal dedicated for landlords, that shows them exactly what is happening to their property from anywhere in the world. Well, click here to learn more.
