How I'm reorganizing a property management business- advice?

How I'm reorganizing a property management business- advice?

Developer · Austin, TX · Member since 2016 · 108 posts · 23 votes

My client is a landlord and developer. While he is very skilled as a dealmaker and house-flipper, his property management is obsolete. He runs much of the business in the same way as he started about 40 years ago. We still collect paper checks by hand, and my client still takes both service and marketing phone calls on his personal phone. We operate 96 units.

I am working to automate and systematize much of the process that goes into the business. I'm working through each role in his staff to consolidate, computerize, and create processes. I want to ensure quick service, complete records, easy communication.

I would like to bring his business down to 2 employees each with very specific instructions for each task. I want each of their common tasks defined on paper to ease training and make the employee replaceable. I want to move to an computer filing system, credit and bank payments, and company phones. I'm implementing a new key sorting system, procedures for contacting tenants and contractors, and a new office space. I'm going to try a few new things like solar power and furnished room-by-room rentals.

I'll try and keep up with the progress here as both a demonstration of what's possible, but also a request for help. Many of the processes I am bringing to the table have already been optimized- I don't realize I've reinvented the wheel until I get on a sales call and am told that there's already a product for that.

If you notice anything that could be done better, please let me know! This is my first time working with a property management company. I'll post my story, but I'm very open to advice and criticism of what I'm doing.

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  • Kim Meredith HamptonBusiness Member
    Real Estate Broker · St Petersburg · Member since 2014 · 2k+ posts · 2k+ votes
    9y

    @Account Closed Congratulations on making the leap into making yourself better in your field.

    My first suggestion to you would be to join the National Assocation of Residential Porperty Managers (NARPM) this association has over 5000 members throughout the United States that specialize in PM of single family homes, special designations, education, networking, and providing members with all the resources to make you better and more efficient. Check it out, you wont be sorry. Best thing I ever did 20 years ago, and I contribute a lot of my growth, leadership skills directly to NARPM

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