Property managers are basically superheros if you think about. They have to be accountants, event planners, mail-room clerks, and mediators during roommate disputes. They deal with rent payments, resident move-ins, resident move-outs, maintenance requests, resident retention, and the dreaded rent week. Like superheroes, they also occasionally make mistakes. (Luckily, the world’s fate does not rest on their shoulders, although the fate of the community does). Every superhero has their own kryptonite. I reached out to some former super hero— er, I mean property managers, to find out the most common mistakes and how they can be avoided.
Leads to your community are begging for help, and may want to be rescued from an evil lease situation. With calls for help coming through Craigslist, online guest cards, and voice mails, it can be overwhelming to follow up on each lead. Luckily, property managers can employ their own side kicks such as an easy-to-use CRM. This allows property managers to track every lead that comes in and ensure it’s responded to in a timely manner.
Like perspective renters, current residents may need rescuing from that leaky faucet or the mysterious smell that is coming from upstairs. Neglecting service requests can hurt a property’s online reputation and can cause bad reviews. Property managers can avoid this scenario by using an online maintenance request system, to track and follow up on every cry for help.
Many property managers walk the property the same way every day. They bring in the same sandwich for lunch. Talk to the same people, handle the same problems every day. This is tunnel vision. We have all heard the old saying, “ If it ain’t broke don’t fix it.” But, this is not true in property management. Residents want new and exciting ways to interact with their communities. It’s up to the property managers to fulfill those expectations. Get your residents together for a big game, have a holiday party, honor the maintenance staff, make a big deal out of a small holiday. Your residents will appreciate your fresh approach.
Even superheroes have their weakness, as property managers do. By identifying them, they can be avoided like kryptonite. We’re all looking for ways to conquer our particular nemeses. What are the some of the problems your property faces? How can they be conquered? Share your story in the comments below.