The Best Way to Manage Multiple Properties Successfully

Being a property manager requires time-management, communication and negotiation skills. These skills are even more essential when multiple properties are involved. Moreover, the fact that most property management firms are understaffed means that time-management, and efficiency is even more crucial to the bottom line.

If you are a building property manager, or are looking to be one, here are 3 great tips on how to manage multiple properties:

 

Less Paperwork

Naturally, the more properties you have in your portfolio, the more papers you will have on your desk. 

To reduce the time it takes to find a particular document, as well as make your office more tidy and reduce storage costs, it is better to keep your documents in soft copy format. There are many online software designed for property managers, with the most popular ones being Propertyware, Total Management, AppFolio, and Buildium. Apart from providing safe and convenient storage for all your papers, they also provide other additional features, including:

  • Marketing programs 
  • Online lease agreement templates 
  • Cheap advertising for vacant spaces
  • Potential tenant screening 
  • Company financials

Notably, the software may cost you a few bucks per month, but that is surely lower than the storage and opportunity costs you would have to incur by having too much paperwork in your office.

 

Establish a Communication Plan With the Property Owners

Sometimes, you may have to deal with multiple property owners at once. And as their agent, they probably don’t want to micromanage you. However, emergencies or unexpected circumstances may occur, and you may need to reach out to a particular unit owner for consultation. 

As such, it is essential to ask them in advance how you can reach them when necessary, whether it’s via text, call or email, and request for their private contacts. That way, you will always be assured of smooth communication.  

Another thing you may want to do is create a communication schedule for each individual unit owner. This is where you call or message them on the agreed days, and give them updates and make plans with them on things like maintenance and repairs. Having a good and close relationship with your bosses will make your work easier.


Know When to Delegate

No matter how good you are at your job, you can’t do everything on your own, especially where multiple properties are concerned. It is therefore important to know when to delegate work to your juniors, or hire professional personnel to help you with tasks you’re not well versed in. 

One area where you need professional assistance is in landscape maintenance. Hiring a credible landscaping company is one way to keep your landscapes, well-maintained and in line with your local codes. And by the way, most landscape management companies offer more than just lawn maintenance services. These additional services include:

  • Setting up of commercial irrigation facilities 
  • Water management and irrigation services 
  • Tree and plant care 
  • Snow and ice management (important in preventing slip-and-fall incidents) 
  • Management of existing commercial irrigation systems