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Community Management

Community Management

Coffee with James Session 6: How to optimise efficiency while meeting your clients’ needs.

Property Management companies have two options when it comes to managing their communities’ accounts: a series of individual bank accounts for each community, or a single, central trust account in the name of the managing agent. That’s interesting. James, which one of the mentioned options are preferred by larger property management businesses? That’s a good question! Trust accounts are the…
James
6th Sep 2019
Community Management

Coffee with James Session 5: How to become a more profitable Property Manager

It’s a sad but well-known fact that small to medium-sized property management businesses are seldom (if ever) particularly profitable. Sure, they can deliver a reasonable turnover, but increasing that turnover usually comes with an associated increase in overheads, particularly with new regulations adding to the workload. What does this mean for property managers, James? Well, the sad fact is that…
James
17th Jul 2019
Community Management

How to scale your Property Management business

A primary goal for most business owners – regardless of industry – is to build a sustainable and profitable operation where day-to-day processes require minimal executive interference. This creates an environment in which you are free to work on your business rather than in your business – an important step towards the professional freedom that likely drove you to start…
James
31st May 2019
Community Management

How WeconnectU makes manageability challenges a thing of the past

In our last post, we discussed the importance of being able to measure key performance indicators in Property Management businesses in order to effectively manage staff productivity and portfolio performance. We also went into some detail on which KPIs offer the most value from a business insights perspective, and how those insights can help business owners and portfolio managers hit…
James
3rd May 2019
Community Management

How to communicate your value as a property manager

“One’s perception is one’s reality.” It’s a common saying in life, and has a profound impact on the world of business as well. Customers are only willing to pay a price for a product or service if it matches their perceived value of that item. This phenomenon is one of the biggest challenges that property managers face today, particularly when…
James
24th Aug 2018
Community Management

4 Major challenges faced by all managing agents

With a rapidly growing sectional title and HOA industry, it’s critical that you as a managing agent adapt and transform yourself from a basic secretarial service to being professional accounting and legal specialists. It is most likely that you are or will be facing these 4 major challenges: Compliance, Manageability, Scalability and Profitability. For starters, let’s talk about compliancy: With…
James
24th Aug 2018