Do you also get an adrenaline rush from managing property? It’s a popular career choice because it encompasses so many aspects. You never have a dull moment and even for those who aren’t sure what job would suit them there’s bound to be something interesting in managing property.
But let’s be realistic: It’s not easy.
We’re going to count down the five biggest challenges property managers face. If you’re already part of this market it may help to know you’re not the only one with these frustrations. If you’re setting out on a new chapter of your life this list will help you prepare mentally.
And then there’s a bonus at the end: Did you know most of these challenges can be countered—or at least managed better—with something called field management software?
Let’s have a look.
Organizing Each Day for Optimum Productivity
Time management is not something any business man or woman finds easy. There’s always too much to do and too little time, right?
This problem is slightly amplified when it comes to property management. You don’t simply manage your own schedule but others’ too:
Of course there will often be too much to do so there’s always something left over from a previous day. It’s even complicated to prioritize since your to do list is filled with items that are all priorities according to tenants or owners.
Managing the Human Resource Aspect
The people that are supposed to help you manage this schedule and get as much done as possible is your team of workers. To experience victories you need to manage two aspects:
You have the constant challenge of becoming and staying the preferred employer in town. You don’t want to lose quality workers to competitors because you’ll end up having to train new employees.
Is it possible to get this right between everything else you manage?
The other group of people you’ll find daunting is tenants who cause challenges such as:
Most tenants view you as one of their own employees since they’re paying for the place they’re renting. This creates the expectation that you’ll be at their beck and call even though you have many other responsibilities.
Maintenance and Repairs: Costs and Logistics
One of your biggest responsibilities is to ensure the premises is looked after.
It would be great if you could simply do planned maintenance but you know unplanned repairs will always be required; and usually they happen at the most inopportune moment when you don’t have the time or man power to take care of it.
While it’s satisfying to see the results of proper maintenance the unpredictability of sudden breakages can add quite a lot of stress to a property manager’s day.
Managing Public Reputation
And here’s one way a simple repair that’s handled incorrectly can develop into a huge problem: Negative reviews.
In today’s society it only takes a few moments to let the world know how disappointed you are in a certain person’s actions: Simply write an online review
Often this happens when tenants experience you as uncaring or deaf to their complaints. Of course this could purely be the result of a busy day on your side and not having the time to give quick feedback.
Are you ready for some good news now?
Luckily the technology that created public online review boards also enables a few nifty programs that can transform a property manager’s functioning. With field service management software you can create an online platform that keeps you in contact not only with your team but even tenants if you choose to.
Here’s how this can solve most of the problems listed above:
Need I say more?