It’s Time to Reinvest in Property Management

The challenges of 2020 have taught us about what’s important – and near the top of the list is our homes. People are spending more time than ever in their apartments, which means for property managers, our job is more critical than it has ever been. We ensure that buildings remain safe, healthy and happy homes for our residents, and at the same time, we provide important peace of mind and value for building owners.

At a time when many owners are looking to retract, investing in a strong property management team can actually help your building retain and grow its value. We’ve found that more multifamily property owners are turning to experienced, professional property management firms as they need on-the-ground support to handle increased operations and communications demands.

The right property management partner provides:

Proactive operations that can mitigate risk and save money: Preventative maintenance can identify issues before they impact residents or become dangerous and costly to fix. In addition to supervising onsite work, an experienced property manager can also identify expense efficiencies, such as energy savings, and negotiate better contracts with service providers or contractors.

Excellent customer service that keeps existing residents happy and attracts new residents: Communications and responsiveness are key elements of effective property management. Providing prompt replies to maintenance requests or other resident questions and following up to make sure issues are resolved can establish a relationship of mutual respect and care for residents and staff. A well-managed building maintains strong occupancy both through retention and by having a strong reputation to bolster word-of-mouth and online recommendations.

Technology for now and the future: Employing technology is a necessity for today’s increasingly virtual lifestyle, but it must be done in a thoughtful and effective way. Tools that are renter-facing – such as online rent payment and app-based maintenance requests – must interact seamlessly with systems that are used to manage the building. Similarly, new technology, such as virtual tours, complement a strong leasing platform. A modern property management partner can evaluate new and emerging technology and recommend the platforms and applications that will work best for each building.

Daniel Management Group believes every apartment community can benefit from efficient, responsive professional management. Once we’re past the current moment – which has required enhanced care of properties to keep residents’ safe and support occupancy – the positive impact of professional management is long term. Investing or re-investing in property management that enhances efficiency, keeps buildings and systems updated, and retains and attracts will pay off in the long run.