Property Management
It's no secret that the COVID-19 pandemic caused significant shifts in the real estate market and industry. Businesses and consumers changed how they viewed property ownership and leasing, and the world quickly adapted to remote working. It was a rough transition for many, but it's likely here to stay, so people in the real estate industry must find ways to maximize their productivity.
A 2021 survey found that more than 75% of workers would've chosen work flexibility over a pay raise before the pandemic. In "Impact of remote work on the real estate industry," Wishup shared that 70% of employees now work from home at least one day a week, and 40% believe they've been more productive while working remotely. Simply put, working remotely can help with employee retention.
There are over three million commercial real estate employees in the country alone, and the market has regained its footing. For property owners, managers, and staff in the residential property rental industry who find it challenging to work from home, it's helpful to learn the benefits that make happy employees.
Working remotely gives you the flexibility to create your own schedule in the comfort of your own home. You can save money on office space, commuting costs, and other expenses associated with a traditional office. Working remotely also allows you to manage your time better, achieving a work-life balance!
However, challenges also come with working remotely. It can be difficult to combat distractions, stay focused and productive, and maintain a healthy work-life balance. There's also the feeling of isolation and losing the speed and spark of in-person collaboration. Do these benefits and challenges also apply to people in the residential property rental industry? Absolutely!
For example, property managers have many responsibilities, including setting and collecting rent and handling maintenance requests. You can work from home instead of visiting rental properties, which is an advantage, especially when managing multiple properties. However, managing your team and keeping up with your projects may be difficult.
If you want happy employees, providing the option to work remotely is essential. But what if working remotely feels more challenging than beneficial for you? ExactEstate has five tips to improve productivity at work while working from home:
Working from home doesn't mean you have free reign to work whenever and however you wish. It's possible, but establishing a routine and designating specific times for tasks that need your attention is a surefire way to be productive.
An excellent example for those working in the residential property rental industry is to set specific hours for responding to emails, making calls, and handling other administrative tasks. Having a regular schedule allows you to prioritize tasks, finish them on time, and avoid procrastination. You also avoid overlooking responsibilities, which can be common in a busy industry.
One crucial work-from-home tip is setting boundaries. It applies to physical boundaries, like having a designated workspace, and mental boundaries, like avoiding distractions. You can avoid being overwhelmed and maintain an efficient workflow with clear boundaries.
Physically, it's ideal to designate an area in your home where you can concentrate and be productive. Having the same space for your personal and work life can be confusing. You may quickly feel like you're either always working or always resting. When you have a dedicated workspace, switching between modes is possible.
Mentally, set boundaries by limiting distractions and focusing on tasks. For example, if you're managing rental properties and responding to emails, only focus on that. Put your phone away or turn off notifications during work hours. Follow your schedule, and separate what you do "for work" from what you do "for life."
Besides dedicating specific time to tasks, taking breaks is essential. Working from home can be exhausting, and taking intentional breaks helps you stay focused and productive. It gives your eyes a break from the computer screen and gives your mind some space to rest, enabling you to stay in the present moment.
A survey showed that 90% of employers encourage taking breaks, and 59% of workers say more breaks would improve their happiness at work. 86% of respondents recognize that taking breaks makes them more productive at work.
The residential property rental industry entails a lot of administrative tasks, so it's best to prevent burnout than to fix it. Take a few minutes off work to stretch, walk, or grab a snack. Anything that feels like a break to you is a great way to recharge!
Working from home can make people feel isolated, especially when you're used to working in an office setting. To combat this, try to stay connected with your colleagues often. You can still collaborate and converse with your team even when you're not in the same room.
In the property rental industry, staying connected can mean scheduling video calls or chatting regularly with your team. Discuss updates, ask questions, and offer feedback to maintain a healthy connection with each other. This tip can help you exercise your interpersonal communication skills.
Remember, you're in an industry that requires communication, so keep track of it. Staying connected will also help you ensure that your team is on the same page and that your projects are running smoothly.
Lastly, take advantage of the technology available to you. Property management software makes it easier to stay organized and maximize productivity. You can use automation to streamline rental applications, manage tenants, and more! Technology can help reduce paperwork and time spent on mundane tasks.
As a property management software, ExactEstate provides features made for property management. You can work with customizable programs and workflows to make the entire process more efficient. You also get to provide accurate and faster reporting, which is crucial in the rental property industry.
Marketing integration is another advantage of using technology for property management. You can find leads and market your properties on one platform. Moreover, a resident portal lets tenants submit maintenance requests and track their payments. Most importantly, you can manage multiple properties with a single dashboard!
There's no need to worry about security, as ExactEstate complies with the highest standards. Maximizing technology is maximizing your productivity, so invest in property management software. You and your team will change your views about working from home once you migrate into the digital world of property management.
Working remotely requires you to improve productivity at work because you're in one place with the rest of your team. However, with proper organization and structure, you can be more efficient in what you do in the residential property rental industry, even when working from home! It's ideal for maintaining a schedule, setting boundaries, and taking breaks. You must also stay connected with people and utilize productivity tools.
ExactEstate amplifies your productivity with our property management software. You get a clean and straightforward understanding of your entire portfolio with features made for your industry. If working from home guarantees flexibility and comfort, ExactEstate guarantees many benefits, including enhanced productivity. Schedule a demo with us today