Property Managers are Taking Action
Out of lean economic times has grown a new era of lean management for both residential and commercial property managers. Although occupancy and rent collection have the greatest impact on revenue, reducing expenses has become the new market trend that drives profitability.
According to the Nevada Business Journal, some commercial property manager tips for improving the bottom line include:
- Maintain service quality for issues that directly impact tenants, while trimming expenses behind the scenes.
- Provide value without adding to costs by connecting tenants with outside services for things like tax assistance and financial services.
- Be transparent with commercial tenants and open a dialog about operating expenses to get a clear picture of which services are providing real value.
For residential, we have property manager tips that reduce costs while pleasing tenants in a very competitive market:
- Work with HOA clients to maximize the amount of upkeep required of homeowners while still providing a high level of service.
- Make reasonable investments in new technology to automate and streamline operations including janitorial, trash collection, and landscaping.
- Use online systems for applications and rent payments to minimize office labor.
Property management still boils down to getting the basics right — down to details like making sure the garbage gets collected. On that front, property managers have automated technology available such as dumpster movers that reduce the required staff from three or four people down to just one employee.
When you want to “do more with less,” you need the right tools. For information about waste bin movers and other motorized systems, visit DJProducts.com — and follow our blog for property manager tips.