Posted on: August 19, 2016 by

As a property manager, you are responsible for resident happiness and ensuring that all the processes and procedures run smoothly. While practice makes perfect, there are some tips to consider to be more organized, prepared, and therefore, successful. So, in addition to reading on to learn key property management tips, protect your firm with a comprehensive Property Manager E&O Insurance.

Being prepared.

Are you prepared for a fire? A flood? These disasters require immediate resolution and a plan. Having a plan in place ensures that everything runs as smoothly as possible even during a crisis. If you have more than one employee in a property management firm, ensure that all information is documented where each of them can find it, says Appfolio.

Know which tasks to outsource.

Whether it’s maintenance or specialized contractors, it’s best to understand which tasks would be better outsourced rather than required of your current employees. Assess their skill levels and determine the best way to hire outside help.

Reduce paperwork.

Rather than allow hard copies of reports and files to pile up on your desk, invest in property management software than can digitalize and streamline your daily operations.

Manage unhappy residents.

Whether you run a commercial property or residential building, unhappy residents need to be addressed immediately. Develop a plan to accommodate them and reduce the risk of receiving any negative feedback.

Establish effective communication routine with property owner.

While you can’t be expected to be available 24/7, having a routine schedule to communicate with the property owner is a must. This will minimize chaos and ensure everything runs smoothly.

At NewMark Insurance Services, we are dedicated to protecting the real estate sector. Our comprehensive policies seek to defend the professionals who make up this field against the variety of exposures they face. For more information, contact our experts today at (855) 777-6549.

Posted in: blog Property Manager

Tagged: become an organized property manager Property Manager E&O Insurance property manager professional liability