The role of a commercial property manager is a bit various than that of a sales or leasing specialist. On that basis the goals to be attained need to be various. Work quality is really crucial in a commercial or retail realty brokerage. Everyone has to carry out as part of the total group.When it concerns goals, you would expect that a sales or leasing specialist would concentrate on a mix of the following: Listings,Commissions, Time on market, Market share .
You can track all these on a monthly basis then see where things are changing.So what would you track and keep an eye on from a property manager point of view? Attempt some of these:
Arrears as a portion of portfolio earnings
Vacancy consider the profile, Time to respond to a tenant contact call, Time to respond to an upkeep occasion, Time to finish a maintenance repair, Credit reports to clientels being sent on time, Time to respond to demands or calls from customers .
These points are all great essential efficiency indications. The reality here is that these numbers start to ‘burn out’ when a property manager is underperforming or greatly loaded with work. That’s when you see the errors taking place.
It is an unfortunate fact that the ‘management division’ in numerous brokerages are the ‘forgotten cousins’ of the business. When things are going well, everyone leaves them alone. When things begin breaking down in the division, the whole brokerage struggles.For a commercial brokerage to flourish, it needs a very good management division that is running at ‘peak performance’ all the time; that includes the managers and their work results. It directly follows that sales and leasing opportunities for the brokerage will take place over time from a leading commercial or retail service.
Tracking the actions and results of managers in their respective portfolios will assist in client service, property portfolio growth, and the contribution of supporting management charges. The tracking procedure will likewise help expose underperforming or poor quality property managers. Training or replacement of the manager can then take place.In this way you can compare the numbers coming from each property manager or profile. Any risks to the business and the portfolio can then be seen and reacted to.Whilst this might look like a ‘witch-hunt’, the reality is that you need to keep the property management division of a commercial realty brokerage operating effectively and properly. Read more at spiffyproxy.com