GAME CHANGER Jo-Anne Oliv­eri

Just like the hu­man body, your busi­ness has a num­ber of vi­tal signs that re­flect its over­all health. Jo-Anne Oliv­eri explains the im­por­tant pres­sure points and what they might be telling you. PULSE LEAD­ERS KNOW THAT TEN­ANTS IN AR­REARS ARE A SIGN THAT REP

Elite Property Manager - - Contents -

VI­TAL SIGN 1: AR­REARS

Pulse Lead­ers keep a fin­ger on the pulse of their prop­erty man­age­ment busi­ness' ar­rears. Their goal is to keep ar­rears at zero per cent by man­ag­ing high­risk ten­ants. Pulse Lead­ers know that if their busi­ness has ten­ants with on­go­ing ar­rears, this is a sign that re­pair is im­me­di­ately needed to avoid los­ing man­age­ments. Mon­i­tor­ing ar­rears, in­clud­ing proac­tively man­ag­ing ten­ants who may pose a risk, is how Pulse Lead­ers en­sure their busi­ness re­mains healthy.

VI­TAL SIGN 2: TE­NANCY EX­PIRY

Pulse Lead­ers con­tin­u­ally mon­i­tor te­nancy ex­piry. They know that a high per­cent­age of te­nancy terms due to ex­pire in the same month can dra­mat­i­cally in­crease their team's work­load, quite of­ten lead­ing to other vi­tal signs be­ing ne­glected. That's why Pulse Lead­ers make sure they know the num­ber of te­nancy terms ex­pir­ing each month to en­sure there is al­ways an even spread of ex­piries ver­sus work­load. By closely mon­i­tor­ing te­nancy ex­piry they can help main­tain their busi­ness' health.

VI­TAL SIGN 3: TE­NANCY TERMS

Pulse Lead­ers also mon­i­tor te­nancy terms. Keep­ing their fin­ger on the pulse of te­nancy terms can op­ti­mise their team's work­load. Un­like some agen­cies which pre­fer to im­ple­ment six-month te­nancy terms in case ten­ants breach their agree­ment, Pulse Lead­ers en­sure that their prop­erty man­agers im­ple­ment min­i­mum 12-month te­nancy terms. They know this in­creases pro­duc­tiv­ity by halv­ing the time spent on te­nancy re­newals. What's more, they know that if ten­ants ever breach their agree­ment, they can be ter­mi­nated re­gard­less of the term. By mon­i­tor­ing this vi­tal sign, Pulse Lead­ers can main­tain a health­ier work­load for their team.

VI­TAL SIGN 4: AV­ER­AGE IN­COME

Pulse Lead­ers al­ways check their av­er­age in­come. They know the im­por­tance of mon­i­tor­ing their busi­ness' var­i­ous rev­enue streams and know­ing their av­er­age monthly in­come. If this de­creases in any given month, they can more eas­ily iden­tify where and when a change oc­curred – such as man­age­ment fees be­ing re­duced – and im­ple­ment re­pairs where nec­es­sary. By keep­ing their fin­ger on the pulse of their av­er­age in­come, Pulse Lead­ers en­sure their busi­ness is al­ways achiev­ing op­ti­mal rev­enue.

VI­TAL SIGN 5: IN­COM­ING CALLS & EMAILS

Pulse Lead­ers con­stantly mea­sure the num­ber of in­com­ing calls and emails to their busi­ness. They know that a high per­cent­age sig­nals a re­ac­tive com­mu­ni­ca­tion style, where clients con­tact an agency seek­ing in­for­ma­tion be­cause they are not be­ing kept in­formed. Re­ac­tive com­mu­ni­ca­tion min­imises pro­duc­tiv­ity, in­creases op­er­at­ing costs and of­ten leads to client loss. That's why Pulse Lead­ers im­ple­ment a proac­tive com­mu­ni­ca­tion style and main­tain a 20 per cent in­com­ing, 80 per cent outgoing split. They know that a healthy prop­erty man­age­ment busi­ness is one that proac­tively man­ages com­mu­ni­ca­tion.

VI­TAL SIGN 6: PRO­DUC­TIV­ITY

Fi­nally, Pulse Lead­ers con­tin­u­ally mon­i­tor their team's over­all pro­duc­tiv­ity. Quite of­ten busi­ness own­ers mea­sure pro­duc­tiv­ity on whether their team is ‘busy', but Pulse Lead­ers know that 'busyness' does not al­ways equate to incomeproducing ef­fi­ciency. In­stead, they mea­sure pro­duc­tiv­ity against the num­ber of tasks com­pleted and the time taken to com­plete them. By keep­ing their fin­ger on the pulse of their team's pro­duc­tiv­ity, they can eas­ily de­tect the dif­fer­ence be­tween busy and pro­duc­tive – and in do­ing so en­sure that their prop­erty man­age­ment busi­ness re­mains not only healthy, but thriv­ing. ■

PULSE LEAD­ERS KNOW THAT 'BUSYNESS' DOES NOT AL­WAYS EQUATE TO INCOMEPRODUCING EF­FI­CIENCY.

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