Problem Solving in Property Management

At its most basic level, property management is about problem solving. This is precisely why investors hire a property manager–to solve problems for them. It’s also why there can be so much variance in performance amongst property managers in the industry. 

Good property managers solve problems, great property managers anticipate and prevent them as well. It’s the difference between passive and active property management. Passive property managers let things happen then try to clean up the mess. Active property managers anticipate and prevent problems, and solve what remains. 

Generally speaking, problems fall into one or more of three categories: management, accounting, or maintenance. Each category has both routine and unexpected challenges that can surface. With the right systems and processes in place, the routine problems can be prevented, minimized, or resolved quickly. This frees up time and resources to resolve those unexpected or unpreventable problems that may arise.

Systems and processes are often reliant upon the underlying software and other tools available. Processes are designed to complete tasks and perform functions common to each category, and are best designed when they are enhanced by the software platform the management company has selected. 

For example, Trailhead uses Appfolio, which has several key features designed to assist workflows from everything to marketing and advertising properties to new prospects, to screening and approval, to accounting, and maintenance. 

As is often the case, the best tools are only as good as the operator. In moving from passive to active property management, learning and leveraging the capabilities of management software greatly increases the ability of the property manager to identify and prevent problems, and resolve them to benefit both their investors and residents.

Timely communication is another key to problem solving. This one seems obvious, but it’s prevalent throughout the industry. Read reviews of frustrated residents and chances are you’ll find a few common themes with the inability to get a hold of their property manager as a major factor. Residents routinely have questions about their lease, maintenance requests, or rent payments. And while most property managers have several communication channels at their disposal (text, phone calls, emails, in person, etc.) poor communication remains a top complaint amongst residents.

Poor communication also acts as a multiplier of other problems. Very few fires burn themselves out on their own–they tend to grow and intensify. This can be especially true in maintenance. A problem deferred quickly becomes a problem magnified. If your property manager is a poor communicator, or avoids talking to residents, chances are they’re struggling under the increased burden of preventable problems stacking on top of one another.

Problem solving should be the foundational skill of every property manager. If your property manager seems problem avoidant, or hesitant to communicate with you as an investor, or with residents, it may be time to consider a change. Upgrading from passive to active property management can make all the difference.