Real Estate Investment 101: Getting Started

How To Work More Efficiently As A Property Manager

When you're a property manager, it can feel like you're required to wear 100 different hats at once. You're fielding calls from tenants, trying to find new tenants, and you're trying to keep the land owners updated with changes. How can you ever get everything done in a productive way? You can start by following the tips below.

Make a weekly schedule

Instead of doing a little bit of everything every day, try breaking down your responsibilities by the day. For example, on Mondays you could focus on work that relates to property management. Tuesday could be dedicated to paperwork. On Wednesday, you could work on marketing... and so forth. If you have one aspect of your work that requires more time than others, you might want to designate two days to those tasks. If some other types of work don't encompass as many tasks, you can dedicate a half-day to those tasks. What this type of scheduling prevents is you trying to constantly multi-task and switch from one thing to another. You'll get more done if you're able to remain focused on one type of work at a time.

Set aside communication slots in your day

Communication is a big part of property management. You probably have a constant flow of emails and phone calls to respond to, but getting distracted from what you're doing by calls and emails can keep you from getting anything else done. A better approach is to set aside blocks of time in your day to focus on communication. For example, you could spend 20 minutes checking and responding to messages at 10:00, 2:00, and 4:30; this way, nobody will have to wait very long for you to get back to them, but you won't be constantly distracted.

Delegate tasks

If you have a staff working under you, do not be afraid to delegate tasks to them. Give them more responsibility rather than closely overseeing everything they do. Most workers will rise to the occasion and do a better job if they feel you are counting on them to do so. Have a staff member start overseeing all of the repair work. Assign another employee the job of writing update emails. Try to make a list of three things you can get off your plate and onto someone else's, and then assign those tasks.

As a property manager, you can't afford to waste time. Start by following the advice above.