“Efficiency is doing better what is already being done.” Peter Drucker.
What do you think? Do you agree? In this article, we’re going to take a look at the number one efficiency that could transform what you are already doing in your property management business, into something better. But before you read on, perhaps you already have some thoughts on what this one thing might be? Maybe you have already implemented this number one efficiency tool
This isn’t about overhauling what your business is doing. But rather, taking a little step back and reviewing what areas within the business could be even more efficient than they are now.
The number one efficiency tool that will elevate your property management business is communication.
How will this number one efficiency tool help my property management business?
Every business wants to be as efficient as possible. It’s what keeps the cogs in the machine turning smoothly and stops the machine from breaking down. With effective communication your team, your customers and suppliers will all be better connected. When people are communicating effectively and efficiently, it reduces errors, it helps to improve relationship building and maintenance, and it contributes to open and honest dialogue between all stakeholders.
We already think we do well in our communication, what can we do better?
If you’re looking for ways to elevate communication beyond what you do now, it might be worth asking staff, customers, and suppliers what their views or suggestions are? Are there any sticking points where communication is being hampered or where blockers may be occurring?
Make a list of each stakeholder’s method of communication – or maybe it’s not a list, more of a map, and identify how everyone is communicating with each other. Could this map be simplified? Could it be eased in some way?
If not, great! But if so, it’s time to ask how that communication can be improved.
How to be more efficient at communicating
We believe that communicating efficiently means making it so easy to communicate that it can be carried out with the least amount of thought or, when relevant, interference by a member of staff.
This could be offering 24/7 access to a portal for customers to check their account, make payments, or view documents. If this type of access is available to customers, then, not only will it make it more efficient for homeowners to do what they need to do, it should also reduce the workload on the team. This might not seem like a method of communication, but any interaction that a customer/homeowner has with your property management business, is, essentially a method of communication.
It might also mean a review of how your business is communicating with suppliers. Is this consistent, easy, and manageable? Are communications all being dealt with swiftly and without stress? If they aren’t, this could be causing delays or could be preventing SLAs from being hit.
Finally, how efficient are communication streams within your teams? This could be something as simple as making it easy for incoming emails to be forwarded on to the right people in a timely manner.
Efficient communication is key
As we started with a quote, let’s end with one:
“The single biggest problem in communication is the illusion that it has taken place.” A little nugget of advice from George Bernard Shaw. Of course, this doesn’t just relate to the communication happening, the email being sent or the phone call being made, but also that what is being communicated is understood and clear between all parties.
When your property management business prioritises efficient communication, the channel is important, but so too are the words and the message behind each communication. It has to be consistent, clear, and concise.
When you can master all of this, between all parties and stakeholders, you alleviate so much stress and potential room for errors and it makes everyone’s lives so much easier.
You can speak to the Blockworx team if you have any questions about this article. Or you can contact our MD, Brian Welsh, who has a wealth of knowledge and experience.