Step Up Your 2019 with These 7 Resolutions

After the ball has dropped in Times Square, the songs have been sung and the toasts been made, the New Year always means one thing — resolutions! While making personal resolutions is important, equally vital is committing (and sticking) to making this the best year of your professional life.

Not sure where to start? No problem! Here are 7 resolutions to consider for 2019:

1. Keep Your Best Tenants
   The truth of the matter is that it’s always easier to keep your current tenants happy than to have to find new ones, which makes the new year the perfect time to get find out what’s working — and what’s not. One of the most effective means is sending your tenants an online survey, giving you the opportunity to gain indispensable knowledge about how you can make them stick around long term. Free survey websites, such as Survey Monkey, provide a simple solution. Just be sure to keep the surveys short, direct and focused.

   Other options to consider are to create a contact center to handle after-hours questions and concerns, or to add a tenant and owner portal to your website. Implementing these resources and services can help keep communication open, allowing tenants to pay bills; get information about their property, account and repair issues; and communicate with you quickly and conveniently.

2. Attract Quality Tenants
   Of equal importance is bringing in new tenants, so consider how they find you. Make 2019 the year you commit to enhancing your website’s SEO and social media connections. Also, you want to ensure that the tenants you’re attracting are of high quality. One way to make that task easier is by using a screening process, like Propertyware’s Tenant Screening, which can help you find tenants who best match your property.
3. Update or Add Amenities
   Another great New Year’s resolution is to add or update at least one amenity to your community or property. This could mean anything from a major upgrade, like a new or re-equipped gym, to offering free Wi-Fi in common areas. In addition, updating the look of your property with a new paint job is a sure-fire way to increase not only tenant happiness, but also lure new prospects! Need more ideas? Check out our article on the Top 10 Community Amenities.
4. Contractors
   As every property manager knows, good contractors are priceless. Even if you already have a list of preferred professionals, you never know when even your most reliable vendors might not be able to make it at a moment’s notice. Therefore, now is a great time to expand your roster by getting bids from new contractors. It’s worth the time investment as you'll have contact information at your fingertips and will be able to quickly send someone to work on the project quickly, making your tenants happy and your job easier. Be sure to check each contractor’s references thoroughly before making a hiring decision. Find a Paint Pro on our website.
5. Audit Utility Bills
   Why should you make a New Year’s resolution to audit your utility bills? Simply enough, there are huge potential savings at stake! This is because, at some properties, it is common for accounting to process and pay utility bills without a full review, which can lead to errors and over payments that add up quickly!

   There are a number of free utility bill audits offered by third-party companies that can uncover previous over payments and billing errors. After the errors are identified, they seek refunds from the utility companies (while keeping a percentage of the total reimbursement as payment). While a refund is not guaranteed, this is a low-risk, potentially high-yield path that every property manager can pursue to save thousands of dollars.

6. Emergency Response Plans
   While it’s not a topic we like to think about, it’s simply a reality that every property or community requires a solid emergency response plan — and no time is better than now to create one. These plans are vital, as they can save lives during disasters (natural or man-made). If you already have a plan in place, take time to review it at the beginning of the year and don’t forget to include current contact information for all key personnel and local emergency services. In addition, share the plan with your employees so that everyone is on the same page if an emergency occurs.
7. Up Your Property Management Game
   Now that we’ve covered property improvements, it’s time to talk about how you can expand your skills as a property manager.

   If you don’t already have one, make 2019 the year you earn a property management credential.

   - Make your time on the road worthwhile! While out and about, find a property management podcast that speaks to your needs.

   - Get started with online classes available at websites like Udemy or LinkedIn.

   - Consider joining your local apartment association or attending a rental housing exposition and tradeshow to learn more from experienced property management professionals.

It’s a new year — time to think beyond the basics and make resolutions that will ensure you, your tenants and your property owners are happy. We hope these ideas have sparked some inspiration regarding how you’re going to make this your best year yet. All of us at Dunn-Edwards wish you a happy and prosperous 2019!