The main reason that I am called to consult in management rights offices is organisation. You have just completed your RLA course and purchased your management rights…..how hard can it be?
Whether you run a holiday resort or permanent complex, have 15 or 80 in your letting pool your work load will increase if you do not have an organised work place.
Many years ago we would have been able to run an office without a computer but these days due to the severity of fines from legislation requirements we are thankful to have the use of computers. The first step in organisation is obtaining software that is easy to use. Over the period of a year most subscription based software companies will charge in excess of $1000. This may seem like a lot but for what you receive in return it is well worth it. It is also tax deductable. There is no point in paying the subscription without the correct training and correct training leads to utilising the software to its maximum potential. You may think that your simple to use trust accounting software is just there to receipt and perform your end of month…..this is not the case. Most programs assist you with your maintenance, arrears, RTA forms, booking confirmations, and also have the ability to merge all tenant/guest and owner information to your letters that are on your computer.
Which leads me to the second item that will help you with organisation. Your office system… obtaining or creating your own letters and forms that you can use on a day to day basis. You may be lucky enough to purchase Management Rights with an extremely helpful outgoing manager that may have left behind their letters for you to use…..for many though this is not the case.
Property Management will throw twists and turns at you on a daily basis and a lot of the time it is the administration tasks that are the toughest. You are beginning end of month process on your computer while you have the tenant from unit 1 on the phone complaining about the tenant in unit 2 and in front of you is a prospective tenant/guest who wants to register their details. If you are an organised office you will have a ‘complaint register’ form which can easily be emailed to the tenant of unit 1 to complete, whilst on the phone you can turn around and hand the prospective tenant a ‘seeking property’ form to complete which leaves you to carry on with your end of month.
Having the tenant/guest complete these forms helps you in two ways…..1) the information is in writing for future reference and 2) your time is precious and you can deal with the required action once you have prioritised it.
If you do not have the time to write or create the required forms or letters yourself there are industry professionals such as Real Strategix that will provide these for you for a small amount of money which again is tax deductable.
Item 3 – Everything has a place. I do not mean sticky notes have a place all over the desk and up the wall. “I know I wrote it down on a sticky note” and you look up and you see your desk and side of your computer screen covered in sticky notes.
My advice is to have two desk trays. One is your ‘in tray’ for work that needs to be completed and the other is for important documents that you need to get your hands on quickly. (i.e. – tariffs, by laws etc.). EVERYTHING else needs to be in your filing cabinet in labelled suspension files or ring binders. It is time to write that RTA bond cheque and now you need to attach the bond lodgement forms….where are they? Rather that search the property files for them or the pile on your desk, once they are signed put them all in a folder labelled “bonds to be lodged”.
Once you have attended to the above three items you will notice your productivity increase, your stress levels decrease and you will have more time to spend with your loved ones.
Management Rights can be extremely daunting and you will find that it isn’t just your office in a mess and other managers feel the same. The quicker you get systems in place the more confident you will feel.
If you would like any more information or simply need Real Strategix help with any of the above please do not hesitate to contact us.