Asset Management includes a myriad of responsibilities.

Asset Management includes a myriad of responsibilities. Fixating on performing every item flawlessly for a small business and perhaps even more so for a big business can be overwhelming. More importantly, trying to perform all items devoid of error or misstep is out of the question. Instead, great property management is most beneficial accomplished by picking a few items and even performing those items as almost perfectly as possible while seeking successful innovation. With that in mind, the key is choosing the a few items that you would like to define your company.

My own short list of items to perform superbly usually are:

These are broad areas that will bring the business together creating a tremendously helpful organization.

Great customer service and consumer management will assure high quality homeowner records, courteous treatment of prospects and residents, effective resident management right from application to moveout and from billing to eviction if necessary.

Remarkable accounting and financial management ensures accurate recording of every transaction, appropriate categorization of each item, effective correct preparation of statements, strong cost management and cash controls, as well as the ability to provide high quality investor financial communication.

Off the chart marketing and renting causes the manager eve gersich on google plus to innovatively drive traffic to the property, to continually improve the selling to closed lease process, and to assure great follow up together with communication with prospects and the marketplace. In the end, meeting this objective will result in plenty of prospect, steady and formidable leasing, and minimizing turnover.

Three items together (because of their mutually supporting requirements) will expand good quality performance to effective work purchase management, strong capital planning operations, great capital renovation and enhancement plans, satisfied customers who offer great referral traffic, and a very satisfied investor who can count on the company to provide profitability, minimzed cost, high quality services and facilities, and robust improving asset value.

As an owner or manager, you may choose numerous items to focus your management consideration. However, if chosen correctly, the items will support one another and provide a specific vision to your investors, your staff, your contractors, and your residents. Essentially, the shared common vision will lead the business to a total item that is greater than the sum of its components. As described in the book,

you will accomplish the hedgehog effect that leads to be able to steadily improving performance for success, customer satisfaction, asset protection, and cost management.