Content originally featured on Elite Agent.
Just like the human body, your business has a number of vital signs that reflect its overall health. Jo-Anne Oliveri explains the important pressure points and what they might be telling you.
To keep your property management business healthy, here are the top vital signs you need to monitor.
Vital sign 1: Arrears
Pulse Leaders keep a finger on the pulse of their property management business’ arrears. Their goal is to keep arrears at zero per cent by managing high-risk tenants. Pulse Leaders know that if their business has tenants with ongoing arrears, this is a sign that repair is immediately needed to avoid losing managements. Monitoring arrears, including proactively managing tenants who may pose a risk, is how Pulse Leaders ensure their business remains healthy.