Spring is here! We’re all getting excited to get out of our trackies, off the lounge and throw on some cleaning music… No? Just me?
Whether you’re struck by the spring cleaning bug or not, we can all agree that spring, and the warmth it brings, gives us a fresher, more energetic perspective on everyday tasks.
But spring isn’t just a great time to spruce up your home or you desk, it’s also the perfect moment to ‘spring clean’ your business processes, procedures & portfolios.
And, as fun as I know you think that is already, remember that under the Supervision Guidelines, a principal licensee must ensure “all operational procedures of the business are reviewed at least once each calendar year to ensure they are sufficiently robust and comply with the law”.
This spring clean will encompass processes, procedures, and your bottom line, so really, what’s not to love?
Let’s look at this through our fresh spring lens and ask ourselves and teams a few simple questions:
What is taking too long?
You know that process that everyone moans about that never gets completed?
The one you’re always pestering the team to get to you before the end of the month?
Well, that’s a great place to start!
Or perhaps your team is constantly out checking a repair, meeting a tenant, doing an ingoing inspection and you cannot seem to see the benefits?
These time sucking activities might be a part of the job that you need to live with, but they are likely also an efficiency challenge waiting to be tackled and improved.
What are your clients unhappy about?
If you don’t know the answer to this right away, your team will tell you quick smart!
Is it that their statements are always incorrect? Or that they never get their phone call returned in a timely fashion?
Maybe they feel repairs cost too much.
If you or your team are hearing these gripes, it’s a good indication that a process needs reworking.
How well is your software working for you?
Remember that software your mate told you changed their entire world?
You know, the one that would make all your dreams come true and make you more efficient, even though it costs a bomb.
How’s that going for you?
The trouble with software, or any tech really, is there’s the potential for it to be used kind of like a microwave.
There are 500 features, but they stick to simply warming up their leftover falafel.
Have a look at how many pieces of software you have in your drawer and whether you use them.
But wait! Don’t toss them out yet. They might be salvageable.
Ask yourself this question next – what would happen if you received proper training on how to use them?
Now might be the perfect time to learn about the other 499 features you have on hand.
Do you know your numbers?
This is always a doozy, the spice pantry of the real estate world, your portfolio numbers.
Do you know how many managements you really have?
Do your records show 350 when, in reality, there are 40 lost managements due to be archived?
Spring cleaning is messy work.
You have to roll up your sleeves, get right up in there and be prepared to find that mouldy sandwich behind the lounge.
But once it’s done, gee it’s a great feeling.
So, if you can get off the lounge long enough to spring clean your portfolio and business, you could avoid inefficiencies, improve your service and maybe find a few extra dollars under the seat cushion.