Webinar: Property Management Growth Strategies for the New Year thumbnail picture
  05 Mar 2022
 80 views
Article

Webinar: Property Management Growth Strategies for the New Year



Hello, hello, hello, everybody. Welcome to today’s webinar.

Ok, so today we’re going to be talking about tips for property managers in the New Year. We are already in December, and 2022 is upon us. So, this year was still a little bit transitional, coming back from the Covid days, business is still not back in many markets. And now is time to take a look in the year and see what we can do better for next year, especially adapting to some of the new changes that we are all faced with. So, let’s get into the material.

Ok, so the first thing is… My name is David, I’m CEO of Booking Ninjas. We are a cloud-based Property Management Solution built on the Salesforce platform. And we are in touch all day with various types of property managers from all kinds of segments. Hotels, vacations rentals is where I’m coming from. However, over this period I’ve learned a lot and talked to a lot about the frustrations of… How things could be better in the Property Management Industry. So, let’s get into it.

So, it all starts with a vision. It all starts with identifying the places where you are vulnerable, the places where you want to improve. So, everyone has a vague idea of where that is, or some of you might have a crystal clear idea of what that would be. But the key is to just keep writing things down and reviewing what you’ve written down everyday and take steps to achieve those goals on a daily basis.

So, even if there’s a… Maybe some skills gap or you’re not sure how to go about certain things, we can make it happen. So, you can always find the right people, you can always ask us, as we are heavily involved in the Property Management technology space. But it’s all about setting that clear vision and articulating it almost on a daily basis to yourself and to the people around you that you’re cooperating with, partners, staff and other stakeholders.

Ok, so the action plan is not always as easy as it sounds because there’s a lot of unknowns, especially now most of the staff is tech focused, so in order for us to achieve those goals we always have to have some kind of technology in the equation. If it’s not, maybe that action plan needs to be revised.

However, Property Management now… It goes way beyond just acquiring the property, collecting payments and dealing with things, it’s bringing the service to a whole other level. And the only way to do that is to make it a lot more tech-enabled.

This I see a lot of waste. People are not protecting their time enough. When I say protecting their time is like… You know, I hear these stories for example that they’re dealing with keys, they’re losing keys, letting their people into places half the day and these occurrences could happen unpredictably. So, that is not a good use of protecting your time.

Protecting your time is making sure that these little, minute tasks that interrupt the bigger vision don’t happen. So, how do we do that? How do you protect the time? It’s mostly through… You know, not letting those kinds of things happen. But when they do happen, you have to actually not just let them happen again, but go back to that action plan, go back to your vision and say ok, I don’t know maybe what the solution is, but I know there has to be a solution for this, right? Access control is often a time killer, dealing with, like, frivolous complaints is also a time killer. You know, collecting on debt, or trying to find late payments because it’s not informative enough, or doesn’t have enough payment methods to make the payments, or it’s not flexible enough on your plan, that’s also a time killer. And it's not just your time, it’s your team’s time as well, ok? Like, whenever you get a… What’s it called? Someone, you know, rejecting a charge. That’s time, that’s time to deal with that, you know. Hotels deal with that a lot, where they have to deal with various credit disputes and that’s a huge time killer.

So, if you want to protect your time, you must back up and think about what’s causing problems in taking your time… Taking your time for things that are not associated with that vision plan that you had.

Ok, recruiting. So, there's tools for this, and there’s ways around to do this. But recruiting is a very important thing. So, this is also something to consider.

Ok, focus on getting new clients. For property managers those clients can be renters, people occupying the spaces that you’re managing, and also finding new owners that you’re going to be managing their properties for. Or if you are an investment company as well, finding those new investments that eventually you’re going to property manage. So, freeing up the time on the frivolous tasks and focusing more on the value high tasks.

Ok, this is definitely something that doesn’t happen at all as much as it could be…You know, follow up with potential clients. If someone just does a little bit, a little bit, maybe sends one extra text or sends one… Makes one courtesy call, that goes a long way, believe it or not, because so many people are not doing that. So, guys follow up with your potential clients, ask them how they are doing, be human, get to know people, because that, actually, is a better revenue driver than you just chasing, chasing, doing it, doing it… So, keep that in mind.

Ok, contact investors about your product or service. So, this might apply to some but not all. But that’s always good… To have investors updated, knowledgeable about your product, understanding what you’re doing… Having capital on the sideline is always so, so valuable. Whenever you have capital, that means options. So, remember that.

A PMS can definitely help you, ok? Taking a bunch of little systems, putting them all in one or upgrading a big system that you have to something that’s more… You know, it’s more robust, more dynamic, fully capable of achieving that all-in-one proposition. Automating things like text messages, marketing campaigns, running credit scores, dealing with payments, pushing things more to the online bookings, things like that. So that’s definitely going to help.

And that’s where we come in. Booking Ninjas is a Property Management Solution built on the Salesforce platform.

Check us out with a new, reduced pricing page online. Go ahead, ask us questions, schedule a call, see what it can do for you.

I’m looking forward to seeing you guys on the next webinar. Thank you so much for your time. Have a wonderful, wonderful weekend.