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What are Property Management Systems and Processes?

Oct 27, 2021 | 0 comments

I recently started working with a property management firm that hired us to help them improve their systems and processes. During my discovery process, I learned that there were no formal or repeatable systems and processes in place. There was also no prior understanding of what “systems and processes” are. It’s quite typical for a property management firm to have heard of “systems and processes” and realize that they “really need to have something in place,” but beyond that, they were completely lost. By the way, I adore clients like this because they are about to embark on a journey that will ultimately satisfy and delight them. So, what are property management Systems and Processes? Systems and ProcessesThe definition is pretty straightforward: A system is the overall “thing”, or a core element, you’re looking to have and/or implement in your business. It’s something that helps your business run. The processes are all the things you do in order to make any given system work most efficiently. A great example of a property management system is “Tenant Management”. The processes that support the Tenant Management system to work most efficiently would include the move-in process, lease renewal process, move-out processes, tenant support, among many others. Establishing all of your business’s systems is a fantastic way to improve operational efficiency in your property management firm. Once you have a clear understanding of what your systems are, map out the processes that are essential to support it. How do you do that? Start with a simple checklist. Identify what triggers the checklist and each step that follows until the process is completed. Checklists are outstanding if used consistently, and they are the foundation of a slick and automated workflow in the future. Workflow is essentially a “flow” or a continuous loop of processes, which starts with one event or process triggering the next, triggering the next, to complete the process.from sad to happy Property management systems and processes are not interchangeable terms. Remember, systems are the “core things” driving your business. Processes are the tasks that support the systems. Understanding property management systems and property management processes is an important step in creating a well-oiled property management machine that works for you! What systems and processes are you using in your property management firm? If you need help with your property management systems and processes, we would love to hear from you. Set up a free discovery call today!

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