Chapter News

Property Management 2.0

By Damian Kennedy – Morton & Morton

Property Management isn’t one big job, it’s a million small jobs rolled into one!” For anyone who works or has worked in property management, you can attest to that statement.

Sometimes, there just doesn’t seem to be enough time in the day to complete all those jobs which need to be done. Technology can play a pivotal role in increasing any property manager’s time management skills with simple strategies and techniques. The use of video and social networking are some key elements that have greatly increased not only the time saved for a property manager throughout the day, but also a higher level of service we are providing to our clients.

Video

The use of video technology has been in real estate for a few years now, but has been used more regularly in the sales side of real estate rather than property management. Joshua Thomas, Department Head of Property Management at Morton & Morton, spoke recently at a property management conference about the use of videos in property management.

“In property management, we’re here to solve problems. A major part of that is conveying a really clear message to tenants, landlords and other stakeholders. Using video is helping us communicate more effectively to them,” Mr Thomas said.

By creating a video of a routine inspection, outgoing inspection or even a maintenance issue, the landlord is gaining a better understanding of what is occurring in their investment and the work that you are doing for them. A picture can only convey a segment of their property, whereas a video can provide the landlord with more detail.

In my experience, videos with maintenance issues for overseas investors are a gift from above. By creating a 45 second video of certain issues, emailing the owners the video, describing what the issue is and how it can be fixed, and gaining a response within 12 hours ensures that tasks are completed quickly. Before the use of videos, this simple task could take close to a week, as communication was not efficient and there would be some back and forward occurring due to the time difference. The use of videos has saved time, but just as importantly, it has created a higher level of customer satisfaction. Gone are the days of a landlord receiving the carbon copy routine inspection paper sent in the mail!

Social media

We are in a digital age and our lives revolve around technology. As a property manager, you have an abundance of information about your local area. Why aren’t you telling anyone about this? You will be surprised to know that people in the local area want this information. Social media sites such as Facebook, Twitter and Instagram are perfect platforms for you to communicate your message, your brand and yourself. For certain areas, the key demographic are Gen Y.

Studies have shown that people from the younger generation are spending over an hour a day on Facebook. What a great way for a property manager to communicate to their audience. Social media outlets are supposed to be fun and do not have to be generic. Change it up. ‘Terrible Tuesday’ or ‘Flashback Friday’ are some ideas that you can post weekly to your page, which will engage your audience and keep them interested. By inserting your key message, with regards to the local market, the community work your company is doing will not fall on deaf ears as your audience will be tuned in due to your regular content.

Videos and social media strategies should be incorporated into any property management business. These strategies are providing property managers with more time throughout the day and creating a higher level of customer satisfaction. Clients today want information and they want this to be easily accessible. The use of social media in your property management business can fulfill this and get your brand out to the wider community.