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Property management is known as a people business. You’re communicating daily with investors, tenants, contractors, service professionals, and staff members if you are lucky enough to have a team working alongside you. So why do so many property managers say they spend most of their time on processes, checklists, organizing schedules, and completing reports? Those are tasks, many predictable, some less so. But none of them really allow you to connect with and serve people in the rewarding way you initially imagined.
What if there was a better way?
Enter the Remote Support Office (RSO). One of the benefits of an RPM franchise is the back-office support system. RSO removes some of the administration and bookkeeping functions in a Property Management office to allow our Franchise Partners to work on business development and relationship building. We recognize that working ON your business is essential for success and very challenging if you are working IN your business full time.
Invoice posting, paying vendors, collecting rent, managing maintenance expenses, the list goes on. If you don’t have a clear overview of cash inflows and outflows, you won’t be able to effectively advise your investor on planning strategies to ultimately increase profits.
The property management accounting cycle for investors along with trust accounting can be very daunting - this is where we can help!
Workflow Processes. Systems and processes are essential for any business. The property management industry is full of repetitive tasks. With streamlined processes and automation, we can remove some of this repetition. This is where high tech = high human touch comes into play. For instance, how are you tracking repairs and maintenance? Is your current system reliable? Remember, what isn’t measured can’t be improved. The landlord hired you for peace of mind with their investment. Make sure you can deliver. Always.
Business Development. A customized training program, the RPM Start Right Program sets our Franchise Partners up for success. Understanding what your services are, who you want to talk to about them and why they would care is essential to developing business. We cannot be everything to everyone and we don’t want to be. We’ll coach you on identifying your niche markets, how to build a referral network, help you establish your voice and messaging, and teach you how to be strategic with your time.
Understanding business development will ensure you are offering services to those that are a good fit for your business.
Mindset Coaching. Business and leadership coaches are in higher demand than ever. We can give you all the tangible tracking tools in the world, but when emotions take over and make you feel stuck, fearful, anxious, you need a human to coach you through it. RPM has an in-house coach and advocate working alongside you. You have the opportunity of both one-on-one training, as well as bi-weekly roundtables where you can collaborate with and support other franchise offices. There’s a good chance they have been through whatever is challenging you. A community of collaboration is one of our core values. We don’t just say it, we put it into practice with all our franchise partners.
But, Do I Really Need all this? The risks of operating with inefficiencies and inconsistencies are great and sometimes you can’t recover from them. Relationships and trust matter in this business. Investors love networking with other investors and if you rely on word of mouth for business, bad PR travels faster than good. So, while a few errors may seem small to you, they can have lasting impacts.
For 2023, the RPM leadership team chose #FOCUS as our word of the year. If you’re ready to take your property management business to the next level and focus on your business, we’d love to show you how to do that.