Property management is well-known for being a constant fire drill of tasks and activities. There is always more to do in a day than the time available for property managers (PMs). Effective time management involves critical skills that each property manager must adopt and make their own, which is a must if they want to be successful and have a lasting career.
By implementing some of the following tried-and-true time management tips for property managers, it will become possible to juggle all the necessary tasks, outsource when it makes sense, and reclaim a sense of control over the job.
Keep a Running Task List
Trying to “wing it” every day without a scheduling system means that all your to-do items live only in your head and can easily be forgotten. One of the best time management tips for property managers is to be proactive about scheduling tasks ahead of time rather than taking them as they come.
This method provides more control over your time and allows you to formulate your daily game plan. Apply the 80/20 Pareto Principle: You’ll get 80% of your results from 20% of your tasks, so let that guide your task prioritization. At the end of each day, review your accomplishments and enjoy the satisfaction of crossing things off your list. Carry any unfinished tasks over to tomorrow’s list.
Batch “Like” Activities
You can complete tasks more quickly if you focus 100% of your attention on one type of task at a time. Batch similar tasks, such as accounting reports, recording payments, and bookkeeping entries. Do all your rental listings in one batch, using a template for the information that stays the same in each listing. You will feel less stress, and your brain will stay focused more easily when it doesn’t have to switch back and forth from entirely unrelated tasks.
Studies have shown that multitasking, or switching back and forth between various tasks, reduces productivity because it takes longer for the brain to get back into the flow of one project each time it’s interrupted by another.
Just Say No to Interruptions
Some sources say that property managers have an average tenure of about nine months, most likely due to burnout from the sheer amount and variety of tasks required. The ability to say no to protect priorities and decline lesser tasks is a crucial skill in property management.
Head off interruptions by sending phone calls to voice mail, and only read emails and return phone messages during a designated time you have blocked out in your daily schedule. This time slot can be once in mid-morning and once again in the early afternoon. Finding ways to side-step other interruptions will allow for focused time on your work that will pay off in clearer thinking and more completed tasks.
Practice Good Communication
Communicating with your team is always essential, but it’s especially so for property managers. If a team member misunderstands a task, you could have an angry tenant on your hands in a hot minute. Property managers must give clear instructions and set expectations with staff, residents, and vendors to ensure that every task achieves the desired outcome.
PMs skilled at communicating share their top daily priorities with their team so that each member has clarity about the day’s goals and issues that need to take a back seat for now. To maintain good communication, institute a daily briefing to inform your team about the day’s activities and priorities.
Outsource and Delegate Skillfully
No one can do it all, and property managers quickly find that outsourcing tasks are a much-needed life raft. There is a skill to knowing exactly what to delegate or outsource and who to entrust with the responsibility. Some managers start with smaller tasks and responsibilities and let employees and outsourced partners build trust over time by executing and delivering completed tasks well. Over time, PMs get to know the strengths and weaknesses of each team member and develop a list of favored outsourcing partners.
Some types of work require a specialized skillset or a team of laborers that the property manager doesn’t have on the payroll. Property maintenance is one example of a group of outsourced tasks. For instance, every PM has a stormwater management system on their property to manage water flow when it rains or snows.
If the system fails due to poor or improper maintenance, it could flood the property and parking structures, causing extensive damage. In this scenario, outsourcing to a company with expertise in stormwater systems maintenance and repair makes perfect sense.
Streamline New Tenant Processes
Interactions with existing residents and prospective tenants can easily chew through hours of a PM’s precious time each day. Instead of doing the screening and onboarding system haphazardly, develop a streamlined, repeatable process that accomplishes the job consistently and efficiently each time.
Keep rental ads well-organized and provide detailed information to cut down on info-request phone calls. You can even take a photo of your rental criteria, then add it to the collection of floor plan photos on the website.
Additionally, create a Frequently Asked Questions (FAQs) page on the property’s website with the most common questions and answers to reduce tenant and prospect information requests.
Let CatchAll Environmental Lighten Up Your To-Do List
You will become more efficient and productive by implementing these time management tips for property managers. When it’s time to schedule maintenance, repairs, or upgrades to the property’s stormwater management system, contact CatchAll Environmental.
Our team of professionals will inspect the system, recommend a maintenance plan, and perform the maintenance on a set schedule. We will also complete and file any required regulatory paperwork, which frees up your schedule even more.
Call our professional team and be assured that you will get high-quality work at an economical price. Contact CatchAll Environmental for your stormwater system inspection today.