WeconnectU News

It has been a year of amazing achievements that we can and should be proud of. Never before has the property management industry been tested to this level, and never before has it risen up with such resilience and determination to succeed.

Time is our greatest commodity – we only get 24 hours in a day, and the way we use those hours affects everything from our personal happiness to our businesses’ profitability. Time is also in high demand in today’s world. Everyone is trying to take a piece of it for themselves, through emails, phone calls, social media and more.

In times like these, business owners aren’t just battling to adapt to a new normal, they’re also facing a constant stream of white noise. From ever-evolving laws and restrictions, to the struggles of people under pressure, to tragic personal stories and tides of fake news, it can seem impossible to keep one’s head above the metaphorical water – let alone grow and shape a thriving business.

Navigating the changing landscape brought about by Covid-19 has certainly been a challenge for property managers. However, it has also brought into stark relief the critical role that property managers play on behalf of landlords, and highlighted a few essential operational capabilities that will become non-negotiable in future.

Let’s face it: the world we live in today is not the same as it was three months ago. Likewise, the world in three months’ time is going to be a very different place to the one we’re in today. Times have never changed this much this fast, and it’s creating a huge amount of uncertainty for people and businesses everywhere.

Professional rental property managers have been an important part of the property investment landscape for as long as most of us can remember. Landlords have long relied on these experts to shoulder the day-to-day demands and intricacies of keeping tenants in line and rental properties running smoothly.

Professional rental property managers have been an important part of the property investment landscape for as long as most of us can remember. Landlords have long relied on these experts to shoulder the day-to-day demands and intricacies of keeping tenants in line and rental properties running smoothly.

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.

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. That makes it tricky for business owners to transition from making ends meet to making a real profit – a challenge we really enjoy helping our clients solve with the help of WeconnectU Community Management Solution.

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 your own operation in the first place.