Take Your Processes From Your Head to The Heart Of The Company

In any given property management company, countless operations unfold each day, rendering it a realm of perpetual motion. There are move-ins and move-outs, new leases being signed, and rigorous property inspections. Then we have the upkeep of work orders, managing delinquencies, navigating through evictions, and constantly prospecting new owners. It also involves handling inbound leads, fostering tenant relationships, nurturing owner relationships, disbursing payments, and so many more.

However, with all these moving parts, a pertinent question arises: Where is the documentation for each process?

More often than not, it seems the key to these operations lives precariously in someone's mind, usually the owner's or a trusted employee's. In the early stages of a company, the owners create the processes. As the team grows employees find innovative and efficient ways of handling tasks, the owners naturally drift away from these day-to-day operations.

While this evolution of roles within the company is expected, it brings with it an inherent risk. The accumulated knowledge and improved procedures are still locked away in someone's mind. This practice of storing knowledge personally could become a major obstacle, particularly when a key employee leaves or the company is in the process of expansion.

Documenting your processes is, therefore, not just a recommendation, it's a critical step for sustainable success. This procedure is invaluable for four key reasons:

Your Safety Net
In the event of a key employee leaving, a well-documented process would be an effective fallback plan. The departing employee could hand over their duties seamlessly, reducing the chance of disruption in your operations.

Expanding Your Team
It eases the onboarding process of a new employee. Having access to a manual of your company's working systems will enable the newcomer to acclimate faster, enhance their productivity and lessen their initial dependency on colleagues.

Measure What Matters
Process documentation forms the bedrock of your company's scaling efforts. It creates a solid foundation upon which your business can grow and evolve. It also supports you in developing Key Performance Indicators (KPIs) and in identifying areas for efficiencies.

What Comes Next
It aids in the creation of a legacy plan, ensuring the survival and continuation of your business long after you've stepped away from the helm.

The landscape of property management is complex and ever-evolving. To remain competitive, it's essential to continually reevaluate and improve the way things are done. As we push forward, it is equally critical to leave a trail of our progress, a clear documentation of processes, that will aid not only our current operations but also support the company's future endeavors.