{"id":25764,"date":"2019-10-03T12:01:17","date_gmt":"2019-10-03T12:01:17","guid":{"rendered":"https:\/\/www.parcelpending.com\/blog\/property-management-tips-and-tricks\/"},"modified":"2023-04-04T17:04:07","modified_gmt":"2023-04-04T17:04:07","slug":"property-management-tips-and-tricks","status":"publish","type":"post","link":"https:\/\/www.parcelpending.com\/en-ca\/blog\/property-management-tips-and-tricks\/","title":{"rendered":"Property Management Tips and Tricks"},"content":{"rendered":"

If you\u2019re a property manager for a multifamily apartment building or community, especially a larger one, you are probably busier than ever. Between juggling current renter issues, onboarding new residents, <\/span>meeting <\/span>potential tenants<\/span>, <\/span>and navigating changing health and safety guidelines, you\u2019re likely stretched thin. Fortunately, there are a few simple<\/span> and innovative property management solutions<\/a><\/span> you can follow to free up time and make your property management service better, as well as help you be a good property manager for your <\/span>renters.<\/span><\/p>\n

Learning to do more with less can feel challenging as there are only so many tasks that one property manager can handle during the space of a business day. Successfully managing more tasks in a short space of time takes planning and strategy, but can help to alleviate stress that would not be manageable in the long run otherwise.<\/span><\/p>\n

Here are a few property management tips and tricks to make<\/span> future property management<\/span><\/a> easier and more efficient and help you be a more successful property manager.<\/span><\/p>\n

4 Must-Know Property Management Tips and Tricks<\/strong><\/h2>\n

Property management basics<\/span><\/a> argue that a property manager\u2019s goal, aside from ensuring tenant satisfaction, is to increase efficiency and optimize operations. To find areas of improvement for your rental property, start by <\/span>using these tips and <\/span>answering the following questions:<\/span><\/p>\n

#1 Consider outsourcing or delegating time-consuming tasks<\/strong><\/h3>\n

What task or tasks take too much of my time? Oftentimes, there are tasks that a property manager wants to focus on that wind up taking a backseat to repetitive and sometimes tedious, but necessary tasks. If you find yourself spending significant amounts of time on repetitive administrative tasks, it may be worthwhile for you to consider outsourcing those tasks to a support employee, app, or service. Even outsourcing one task can save precious minutes, even hours of your time. Over the space of a year, those minutes can add up.<\/span><\/p>\n

#2 Ask tenants for feedback<\/strong><\/h3>\n

What are my tenants\u2019 most common complaints? Providing a desirable community environment starts with observing common tenant complaints, or even surveying tenants for their most desired amenity ideas. Consider giving tenants a suggestion box or an outlet to provide anonymous feedback about issues they\u2019re having around the community. Proactively addressing complaints and suggestions can show current and potential renters that they are valued and also help you find operational issues you might not have realized were a concern.<\/span><\/p>\n

#3 Improve your time management<\/strong><\/h3>\n

How can I be better organized? Even with the best time management skills the property management business can be challenging, as a property manager is regularly inundated with various jobs and demands. Consider scheduling or batching your time instead of knocking things out as they come up. There are several apps and services available that can help to streamline processes or organize anything from handling rent payments to accepting packages.<\/span><\/p>\n

#4 Address common resident issues<\/strong><\/h3>\n

What are the recurring problems or tasks that cause you the most grief? Each multifamily building or community has its share of issues. It may sometimes feel like a revolving door of problems \u2013 as soon as one thing is fixed, another problem takes its place. That said, many communities have issues that, for one reason or another, seem to pop up regularly. This could be anything from package theft problems to complications stemming from a lack of parking. Whatever the particular issue, take some time to brainstorm solutions that can hopefully grant both you and your tenants some relief.<\/span><\/p>\n

5 Common Problems and Solutions For Property Managers<\/strong><\/h2>\n

Now that you\u2019ve taken some time to reflect on opportunities for how to improve your rental property , here are a few other common problems you may want to consider adding to your list, as well as some solutions that other property managers have turned to for help.<\/span><\/p>\n

#1\u00a0Managing Packages<\/strong><\/h3>\n

The meteoric rise of eCommerce platforms has changed the way that people shop for and purchase goods. In fact, GroupM expects that global retail eCommerce sales will rise to $7 trillion by 2024 (comprising 25% of total retails sales) and reach $10 trillion by 2027<\/span>1<\/sup><\/span>. And, since the start of the pandemic, eCommerce penetration has seen 10 years of growth in less than 3 months \u2013 with the percent of total sales reaching nearly 35%<\/span>2<\/sup><\/span>.<\/span><\/p>\n

With Americans shopping online now more than ever \u2013 some properties are experiencing<\/span> a 60-67% increase over normal package volume<\/span><\/a>3<\/sup><\/span> \u2013 many property managers are struggling to keep up with package management. This results in two key issues for multifamily communities:<\/span><\/p>\n