I’ve been a licensed real estate agent for 20 years and have worked in the property management space for over 15 of them. I have seen a lot of change during this time, including better quality cameras, apps for doing inspections, cloud-based software and a lot more compliance. Our landlords and tenants have also changed, becoming more educated in property management, expecting higher levels of customer service and developing more legislatively savvy skills. But at our core, how much have our internal processes changed?
How do we continue ‘business as usual’
The Coronavirus epidemic of 2020 has had a massive impact on the property management industry right around the globe, and we are all facing the same challenges. How do we continue ‘business as usual’ while our teams are working from home, our tenants won’t let us in, and social distancing drives a nail right through our traditional business model. Throw ad-hoc, overnight, changes in legislation, and we have to reinvent our processes from the ground up to stay relevant. But how long will this last for, and will these new processes become the new normal?
Cloud-based platforms are now allowing us to be more mobile than ever
Cloud-based platforms are now allowing us to be more mobile than ever; however, before COVID-19, we didn’t seem to be embracing this concept. Cloud-based trust software and programs such as Docusign have given us the flexibility to send, receive and sign documents without them ever hitting paper. Cloud storage lets us access these documents from anywhere in the world, giving us instant mobility. Businesses are now embracing this technology to allow team members to work from home during the current crisis. Could this be the new normal?
landlords are excited by receiving a video tour of their property
For years we have been rocking up to our tenant doors four times a year to conduct an inspection that is virtually the same on each occasion. We do this because our landlord pays us to do this! Suddenly social distancing doesn’t permit this, and both tenants and property managers are jumping on the opportunity to do video inspections, with tremendous success. Even the landlords are excited by receiving a video tour of their property. Could this be the new normal?
You and your team have a chance to stand above your competitors
As business leaders, you can appreciate that these are just some examples of many processes that we are currently reviewing to maintain business continuity through these tough times. It may not be working from home, or virtual routines that become the new normal, however, I challenge you to stand back and look at how resilient and intuitive this epidemic has made you. We have an opportunity to honestly think outside the box and reinvent our business during this challenging, yet opportunistic time. You and your team have a chance to stand above your competitors and define what property management is tomorrow.