If you’ve been managing the same property for several years, potential for growth can seem almost impossible due to the slow nature of change in the industry. If you’ve been hired as a new manager in an existing property, the problem remains the same. Being recognized as an exceptional building manager can be challenging without adding time-draining tasks to your already busy schedule. The good news is that tips for multi family managers to succeed have become relatively easier with smart technology in 2023.
Let’s look at 5 ways in which you can utilize smart technology tips for multi family management to succeed at your job. These tips will help you leverage new technology so that you can achieve better results without adding new tasks to your plate. The easiest way to impress your team or deliver results involves finding ways to do things efficiently and reduce workflow. By doing so, you will be able to free up more time for activities that actually help you and your property grow. Moreover, team members always appreciate a reduction in tedious tasks.
A 200-unit multi family property receives an average of 213 deliveries each week (source). Handling residents’ deliveries likely takes up a huge chunk of your property management team’s time. By suggesting an automated package handling service, you can help your team do away with the headache of collecting packages, informing residents, and handing over deliveries to the correct person. Everyone loves lesser manual labor off their plate.
Automated package handling services usually provide properties with multiple digitally-controlled lockers for delivery carriers to drop off packages and for residents to collect packages without intervention from property management personnel. When selecting an automated package delivery system, you may want to look for services that have prompt customer service to fix any issues that may crop up. Services that can work smoothly with major carriers is also an important factor. After all, you may enjoy praise upon selecting a system that reduces your team’s work, but your reputation will suffer if you make an ill-informed choice.
Similar to package handling, accounting is a common routine activity that falls under the purview of several multi family property managers. It is common to get used to an accounting software without realizing more efficient solutions to routine tasks. A quick way to impact real change as a multi family project manager would involve making your team’s accounting processes smoother and quicker. You can get started by understanding the common pain points that your team faces while carrying out accounting-related tasks. Then, you can use the Internet to find alternative software that can mitigate the pain points.
Before making any suggestions, be sure to review the cost of your suggested software. It would also be wise to make sure that the software you suggest is able to carry out the functions that your existing software does.
Improving processes like accounting and package handling is the most straightforward application of smart technology. However, you can also incorporate smart technology to upgrade the physical components of your multi family property. In 2023, building systems like ventilation, water heating, security alarms, and more have evolved to be more hands-off. If and when your property needs to upgrade any of its building systems, you could benefit from suggesting alternatives that will result in less frequent and less complex regular maintenance.
As a manufacturer of water heating technology specially designed for commercial properties, we are acutely aware of the pain points of property managers across industries. Hence, we know that incorporating products with innovations like our patented scale-free heat exchanger that reduce maintenance needs are appreciated the most by facility managers. Reducing maintenance requirements not only results in more time for your building management team, but it can also increase resident satisfaction, and lower annual property upkeep costs. Check out the benefits of our maintenance-free tankless water heaters for multi family properties here.
You’ve likely already heard the adage of engaging your existing residents consistently. Engaging your resident community results in higher lease renewal rates and better word-of-mouth marketing. This is not an uncommon piece of advice. However, most building managers assume that improving resident engagement involves the planning of time-consuming events. Apart from events however, routinely reaching out to residents with information and relevant content can also be an effective way to engage your current inhabitants.
Try this to achieve resident engagement without constant workload: automatically schedule emails at the start of the month/quarter. Reserve a day or two to focus on resident engagement. Use this opportunity to create email messages for your residents. You can schedule these emails to be sent at specific dates from most mailing platforms like Gmail. Software like Constant Contact, Pardot, and Mailchimp will also give you the opportunity to custom schedule messages to every resident.
The second piece of generic advice that you may already know of involves staying on “top of the industry.” That is, keeping up with current trends and new opportunities to excel at your job and ensure that your property keeps up with the competition. While this is crucial, it is a function that easily gets lost in the barrage of action items that multi family managers must keep up with already.
An easy tech-driven way to fix this involves bringing the industry’s trends to you rather than wasting time to search for them. There are many ways you can do this. You can set up a Google Alert for common trends that impact you. Something generic like “multi family trends” should also work. Another option involves subscribing to a publication that is specifically targeted for multi family management like Multi Housing News. You should be able to follow popular publications’ social media channels to stay connected if you prefer that.
By taking this simple step, you can easily stay on top of the industry without stressing over the task of researching developments in your field when you feel lost. Intellihot also shares content related to commercial water heating regularly. Having amassed a sizable network of multi family managers with our products and services, we are considering sharing our on-field experience with our partners through a routine newsletter highlighting trends in the industry in a bite-sized format. We’d love for you to be one of our many initial readers. Please provide your information in the form below to be added to our mailing list.
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