May 13, 2015

Managing Time Tips for Property Managers

Property managers face a burdened workload, constant interruptions, a deluge of information, and tenant issues – in short, there is always too much to do and never enough time to accomplish it.  One of the biggest challenges for property managers is to complete all tasks efficiently and accurately. Given the number of interruptions you get during the day, completing a fraction of must-do tasks is remarkable. 

Property mangers deal with a number of issues including: negotiating leases with existing and prospective tenants, chasing payments, addressing maintenance problems, keeping the property owner up to date, and marketing and networking.    A jam packed schedule has the potential for disaster.  In the midst of all of the activities, moving from one task to another without completing any of the priority issues. 

Build each day around a simplistic plan that allows you to complete priority tasks first thing in the morning.   Handle high priority problems immediately and when possible, delegate work.  Afternoons should be reserved for activities out of the office. This includes meetings with vendors, landlords, tenants, and property inspections.

Simplicity and time management is the key to an effective workday. It is inevitable that you will encounter days when this plan will not be achievable due to some unintended event; however for every hour you devote to planning, you’ll save 3 to 4 hours from poorly managed tasks, so it definitely pays off to stick to a schedule.