10 daily habits that will make you a better Property Manager

Excuse the obvious adage, but a company is only as good as its employees and specifically in the London block management industry, the employee responsible for client satisfaction is the property manager.

It therefore goes without saying that in order to be successful in the industry, you need to be constantly improving and finding ways to better yourself which in turn will lead to a happier client base.

Now, before we begin our list of daily habits, we need to emphasise the most important factor above all of these is self-discipline. Without a high level of self-discipline these habits dissolve to just ‘lip service’.

According to psychological studies it takes an average of 2 months to form a habit, and to be clear, that is 2 months of completing daily tasks to finally form the habit. Carrying out our task list will require determination, sacrifice and self-discipline, but it will separate the great from the average!

So commit to yourself, first and foremost, to these 10 habits and you will succeed in keeping your clients (and your boss) happy!

1 – Financial review

There is an old saying that ‘if you get the money right, the rest is easy’. Well we don’t think that’s 100% true for block management but it’s a great starting point. Each year you produce a budget that is invoiced out to the leaseholders, so how can a property manager manage a building without knowing how much is being spent?

With the technology on hand these days from Xero (which we use and is great), quickbooks, sage and so on, downloading a cashbook or bank balance levels is now easier than ever.
It starts your day off on the right foot and gives you the knowledge to make better decisions, quicker. There really isn’t any other need to convince you further that this habit is essential!

Time Taken: 3 minutes

2 – Speak with contractors for job updates

Another essential task to start your day off right is to find out what was completed the day before. Through these quick conversations you will know what needs to be followed up before the phone starts to ring.

The goal is ‘to know what your client needs before your client does’ isn’t it?

Time Taken: 10 minutes

3 – Plan long term strategy and set goals

With any client we take on the very first discussion that we have is what the goals for the first year are as well as the longer, capital expenditure strategy. This is common sense isn’t it? Well I am constantly surprised by the amount of property managers that seem to fail in this respect.

There are two benefits here. With a long term capex strategy and communicating this effectively, you are managing your client’s financial expectations, don’t be a manager that surprises your clients with a large invoice out of the blue, it won’t do your company or your reputation any favours. Secondly, planning goals for the current year, defining what would make your management a success this year will not only keep you focused and motivated but it will also give you the framework to surpass their expectations.

Time Taken: 15 minutes (depending on the size of your portfolio)

4- Engage your residents

Having managed a number of property managers the one positive that seems to be in common with successful ones is that their clients know them from a personal perspective. This means that those property managers took the time to engage with their clients, we know, it sounds CRAZY doesn’t it, to actually engage the people living in a building you manage!

You would be surprised at the information you gain from a quick conversation, out of the blue, with your clients as well as the peace of mind they receive from the engagement.

Time Taken: 10 minutes

5- Review your client problems

Leading on from engaging with your clients, the next daily task is to think of the building from their perspective. It’s a talent that we cannot stress enough. If you can start to visualise situations from the other person’s perspective, it will change the way you look at problems.

With your clients, their problems may be nominal in the grand scale of the building management issues but if you can go the extra mile and identify some of the small nagging issues your clients have, these are an incredible opportunities to impress them!

Time Taken: 5 minutes

6 – Learn, from mistakes, from colleagues, from your network

We mentioned previously that to form a habit takes on average 2 months however this task must be an ongoing one. To become a leading influence in any industry you must continue to learn and there are many resources available to you in block management with a variety of departments and specialists at your immediate disposal.

Also, try extending your learning, do not simply stick to property. If you don’t understand finance, learn accounting. If you don’t understand technology, learn coding. This variety in knowledge only leads to a greater opportunity to be successful.

Time Taken: Ongoing

7 – Block your day, time management

Time management a core element of a successful day in block management. With multiple clients, multiple problems and multiple people involved, managing your time is the key to efficiency.

Here is a wealth of information into time management and how you can block out parts of your day to tackle the different elements of your role. Do not be stuck to your desk answering emails from dawn to dusk, you may feel like you have completed a lot but how productive have you actually been?

Time Taken: 5 minutes

8 – Plan your meetings with clients

To be very clear, you need to meet your clients on a regular basis and these need to be in your diary and communicated to the client.

Block management in London requires a high level of customer service and your best asset is your personality in this respect. Meeting face to face with your clients gives them a real sense of who you are and the experience you add to the management of their building.

Time Taken: 5 minutes

9 – Invest in yourself

Property Management can be a stressful job, there is no denying it. That is why it is also essential to invest in yourself for the long term to ensure you don’t get burnt out by the pressures of the job.

Whilst the hobbies and habits must be a personal choice, typical ones to get your started are yoga, meditation, sport. You must find your personal solace in order to support your daily management tasks. Take the time to consider what is right for you and follow it consistently.

Time Taken: Ongoing

10 – Organize your desk

Finally, before the day ends, you need to prepare for the next day. We would not suggest a clear desk policy is the best option for everyone however an organised desk can do wonders for your frame of mind and for your ability to hit the ground running when you arrive the next day.
Alternatively, the opposite is to walk into the below and try to be better than the other property managers in London….

Time Taken: 2 minutes

The above list amounts to only 55 minutes of daily habits out of the 8-9 hours you spend at work each day.

With unwavering self-discipline and determination these habits will improve both your professional progress and your personal life. Why not start today and take the time and investment to become an influential property manager in London.