If you want to optimize your property management firm, it is important to streamline the roles and responsibilities of your property managers. Since they carry out many day-to-day tasks, it pays to invest in standardized automated workflows. Whether you are just starting up a real estate company or want to improve your current property management division, understanding how to improve your team’s workflows can help you stand out from other property management firms.

When it comes to your property managers’ roles and responsibilities, many consist of multiple tasks. These tasks are usually classified into ‘dollar-productive’ and ‘non-dollar-productive’ duties. While dollar-productive tasks usually deal directly with landlords and tenants, non-dollar-productive tasks are administrative. While your property managers are responsible for overseeing all tasks, they may delegate administrative duties to in-house staff or virtual assistants.

That’s why improving your property management firm starts with implementing standardized workflow automation. Doing this allows your property managers to consistently and compliantly conduct and oversee each role and responsibility. As a result, your firm will benefit through better operations, increased productivity and higher customer satisfaction. Here is an overview of five different roles and responsibilities of property managers and how to streamline them using automated workflows.

1. Set, collect and adjust rents

One of property managers’ most important responsibilities is managing the rent. This role includes setting, collecting and adjusting rents for every property your firm manages.

Setting rent involves understanding a market area’s rental prices and evaluating a property’s features to set a competitive rental price. Property managers must work out the right rental amount, so quality tenants are attracted to the property. What’s more, this also determines a landlord’s rental income, which can be the difference between a client staying or going.

Collecting the rent is an equally important process that property managers must carry out. They should follow an efficient system for collecting rent from tenants. Your property managers are also responsible for dealing with late payments and unpaid rent, which can sometimes lead to evicting tenants from properties.

Since markets are constantly changing, your property managers must also advise landlords if they should adjust rents. After all, it is their job to help clients make the most of their property investments. If a rental increase is approved, your property managers must communicate with tenants and facilitate the appropriate legal tasks.

Your property management firm should have streamlined procedures for setting, collecting and adjusting rents. By implementing automated workflow processes, your property managers can carry out these tasks consistently and compliantly every time. As a result, your landlords and tenants will receive a better customer experience.

1. Set, collect and adjust rents

2. Screen and approve tenants

Screening and approving tenants is one of the main responsibilities of property managers. They must find high-quality tenants who respect landlords’ properties and pay their rent on time. As part of this process, property managers must market vacant listings. No landlord wants their property vacant as this means lost rental income. Your property managers must work fast to advertise rentals and secure good tenants.

Once prospective tenants submit applications, your property managers must screen them. This screening process involves evaluating criteria, such as income, employment, credit checks, rental history and criminal backgrounds. It also includes determining which applicants meet landlords’ requirements of paying rent on time, following lease terms and caring for the property.

After the tenants have been selected and informed, your property managers need to approve them. The approval process starts with a lease signing meeting where tenants are told about the lease terms. Once the tenants agree to the terms and are made aware of policies around, for example, paying rent and reporting maintenance, your property managers hand over the keys.

Your property management firm must have proper policies and procedures in place to manage screening and approving tenants. Often, these are areas where you may have an in-house staff member or virtual assistant help with the administrative tasks. Using automated workflows can ensure that every step in every task is carried out properly, so the best tenants are secured.

Flussos offers these automated workflows to help your property managers screen and approve tenants:

3. Renew, vacate and evict tenants

As well as finding tenants for vacant properties, your property managers must also renew, vacate and evict tenants. Carrying out these responsibilities ensures that your landlords receive the best customer service and best rental income.

When a tenant’s lease term is due to expire, your property managers must weigh up whether they have been good tenants. Good tenants pay their rent on time, abide by the lease terms and take care of the property. If your property managers determine they are, in fact, quality tenants, they must conduct the lease renewal process. This responsibility involves liaising with the landlords and tenants in question and issuing the required legal communication.

However, even good tenants sometimes choose to vacate properties and not renew their lease. In such instances, your property managers must initiate the vacate process. This process includes coordinating the tenants’ move out, handling the end of rental agreement condition report and managing the bond or security deposit refund and disbursement.

Then there are cases when good tenants become bad tenants. They may stop paying their rent, cause serious damage to the property or abandon it altogether. Whatever the reason that breaches the lease agreement, your property managers must carry out the eviction process. This extensive process must adhere to strict legal requirements, which may differ from region to region.

Your property managers must carry out these responsibilities correctly and compliantly, so your landlords and firm are protected. Following automated workflows ensures that every task is consistently completed and done by set deadlines.

Flussos offers these automated workflows to help your property managers renew, vacate and evict tenants:

“Improving your property management firm starts with implementing standardized workflow automation”

— Jo-Anne Oliveri, CIPS, TRC

4. Manage property maintenance

Managing property maintenance is one of the most important responsibilities of property managers. Handling maintenance and repairs keep current tenants happy, ensures properties remain in good condition for future tenants and boosts landlords’ rental yield. This duty requires liaising with landlords, tenants and contractors, so requires good communication procedures.

Property managers must carry out routine and preventative maintenance for your landlords. Such maintenance means coordinating with contractors to perform the jobs. Common maintenance jobs include exterior cleaning, gutter cleaning, landscaping, smoke detector testing and air conditioning servicing.

Tenants may also report items that require repairs. Regular repairs include plumbing issues, roof leaks, light bulb replacement or air conditioning restorations. In such cases, your property managers must seek approval from landlords to carry out the repairs and then coordinate with the appropriate contractors.

Maintenance and repairs are essential tasks that keep your landlords’ investments in the best shape, so they can generate better rental income. Your property managers should have clear and consistent processes to follow, which is where automated workflows can assist.

Flussos offers these automated workflows to help your property managers conduct property maintenance:

5. Conduct property assessment inspections

Conducting property assessment inspections means carrying out entry, exit and routine inspections. Your property managers are responsible for doing entry inspections before new tenants move into properties. This type of inspection records properties’ current condition. On the other hand, your property managers must conduct exit inspections when tenants vacate properties. They must then compare the entry and exit condition reports to check if tenants have caused damage that must be repaired using the bond or security deposit funds.

What’s more, your property managers are also required to do regular routine inspections. They should hold these inspections at set intervals throughout tenants’ lease terms. The purpose of carrying out these inspections is to check the condition of properties and identify any maintenance issues. It is also a good time for tenants to report any repairs that need to be fixed.

Your property management firm must have standardized property assessment inspection procedures in place. After all, these inspections are there to hold your tenants accountable for caring for your landlords’ properties. Implementing automated workflows for your entry, exit and routine inspections can help your property managers complete these tasks effectively and efficiently.

Flussos offers this automated workflow to help your property managers conduct property assessment inspections:

Whether you are just starting up a real estate company or want to improve your property management division, implementing automated workflows can help you and your team get the best results. Flussos offers over 30 ready-made property management workflows, which have been created and tested by real-world industry professionals. Every workflow has been designed, tested and refined, so your property managers don’t have to waste any time. They can instantly access every flow they need and start streamlining their roles and responsibilities. Doing this allows your property management firm to consistently and compliantly carry out tasks, which will result in optimized operations, increased productivity and higher customer satisfaction.