Anatomy of the human body has twelve parts. As we all know, the heart and brain are the two most important organs in our bodies. However, the heart can function without a brain, but the brain cannot function without the heart.
There are three types of muscles in our bodies:
Skeletal: attached to the bones to promote movement
Smooth: walls around organs for function
Cardiac: pumps blood to the heart
What does property management have to do with our muscles? Great question! At least we now know you have a brain and a heart that is functioning properly!
All three muscle groups work in harmony in property management as it does in your body.
Skeletal Function: Maintenance
Ensuring that your clients’ properties are well maintained and cared for promotes tenant loyalty and timely rent. A renewal fee costs a lot less than a turn-over. Preventative maintenance and semi-annual HVA/C inspections could save your owners thousands of dollars.
Smooth Function: Financial
The proper use of your clients’ funds equates to what kind of food you put in your body. Vendors who are reliable and cost effective shows your owners you have a good relationship with the entities that manage their property. If you have a vendor who is costly and does not perform their job well, it can leave a bad taste in your mouth and a sour look on your owners’ year end statements.
Cardiac Function: Referral
Without the two muscle functions above, your name will not be at the top of your clients’ referral list. The stress of maintenance and tenant turn-over could put your management company at risk for a cardiac arrest.
Obtaining in-house maintenance techs, make-ready specialists, along with a tenant / owner liaison, and an accountant who specializes in the demands and thanklessness of property management is almost like winning the lottery; or physique mega-millions!
If one area is lacking, you’re skipping leg day! What does your work-out look like? How is your diet? Are you taking your vitamins and seeing your doctor regularly? Or is one area in poor health and could use a boost?
In closing, class, don’t skip leg day! All three muscle groups are equally important to the functionality of your company.