The 5 Biggest Property Management Challenges—Can Software be the Answer?

2018-12-07

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.

The Challenges

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:

• Organize meetings with current and potential tenants based on their available time.
• Allocating employees to certain tasks such as maintenance, property checks and more. You don’t know how long each task will take so it’s difficult to plan the day ahead and give people accurate timelines.
• Booking third parties to help with repairs or clean ups. These appointments must fit both the service provider’s schedule and the tenants’ where applicable.

 

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.

 

Tricky, right?

 

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:

• Draw the best team members: You shouldn’t simply employ anyone. You need to draw quality applicants and then you need to pick the best individuals that will benefit you long term. If you want to keep tenants happy and see high productivity levels you need the best in the business in terms of:
  • Working with people such as tenants
  • Having the skills to do their jobs such as administration or maintenance
  • Working both quickly and accurately to minimize mistakes
• Manage the members you have effectively: The only way you maintain productivity is when each team member performs well. This means you need a healthy working environment with loyal employees who make use of team work to get the job done.

 

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 Tenants

The other group of people you’ll find daunting is tenants who cause challenges such as:

• Wanting 24/7 access to you to lodge complaints or ask for help.
• Having to repair property features that they’ve broken or damaged.
• Mediating between different tenants during conflict situations.
• Managing all aspects of tenancy which includes:
  • Vetting new tenants (it’s as important to find quality tenants as it is to appoint quality employees)
  • Handling evictions
  • Checking the premises after someone moved out

 

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?

 

The Solution: Will You Try?

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:

 

• Scheduling: You can view your own and workers’ schedules online. This shows you who is available for new jobs coming in and you can provide accurate timelines.

 

• Employee satisfaction: Employees work in less chaotic environments and can easily acquire information from you without calling or visiting an office. If you use technology to streamline your day your reputation as a high tech company will draw quality applicants.
• Tenant communication: Tenants can communicate via the online app 24/7. You’ll be able to respond, provide timelines and feedback no matter where you are.
• Stay on top of maintenance requirements: Enhanced scheduling procedures help you send out teams to where it’s most necessary so human resources and equipment are used optimally. You’ll get more done because less time gets wasted on misunderstandings, talking on the phone or driving to the office to get job tickets.
• Be the best in the business: All of this will lead to positive reviews.

 

Need I say more?