As an asset manager, your focus is always on finding the most valuable thing you can do for your portfolio today. Yet, even though you can access a flood of information and signals, it's hard to find what to prioritize amidst all the noise..
Finding what to prioritize with this information is one of the most critical skills for asset managers. The best asset managers leverage this skill to increase operating income, drive portfolio value, manage larger portfolios, and even become owners or LPs.
[Asset managers] are focused on a single question - "What's going on with my portfolio?". The best asset managers know where to look to find signals in the noise and understand their portfolio.
Understand your portfolio
Most PMS will provide you useful data and dashboards around financial and leasing metrics, but not real-time insights into the day-to-day interactions between your staff and tenants.
Whether it's an online review, a complaint, or a contentious conversation, these micro-interactions are often the “canary in a coal mine”. They can point you to challenges - a dissatisfied or litigious tenant, an underperforming leasing team, or other harmful evolving risks. Conversely, they can also represent positive signals - which give you an opportunity to raise rents or find an additional revenue stream.
Good asset managers understand this, and that's why they constantly sift through their data to find the most interesting conversations and patterns in tenant behavior. This is where prioritization comes in - they focus on finding out how things are going to go, not just what's happening. Speaking to asset managers across the country, we found most are focused on a single question - "What's happening with my portfolio?". The best asset managers know where to look to find signals in the noise.
To figure out what needs their time, we find that asset managers often get deeply tactical. Here are just a few things they do:
Site visits to check how the property is maintained
Checking Google reviews every week
Secret shopping by posing as a potential tenant
Great asset managers often get tacticalto understand their portfolio because it can unlock outsize returns.
But staying tactical is hard. You only have so many hours in a day. As your portfolio and your responsibilities grow, the time you have to look at any single property decreases. This leads to fewer check-ins and fewer signals about your portfolio. Unless you’re willing to visit every single property and sift through every single review and report every week, you have to guess what needs your attention right now. That’s why we at ResiDesk want to make this easy for you.
Monitor risks to your properties
At ResiDesk, quickly getting to the heart of issues that require your attention is embedded in how we help you. We help you cut through the noise and prioritize protecting your assets:
Capture meaningful data
No more drowning in information from multiple sources! ResiDesk puts the right data at your fingertips, without the need to undertake time-consuming tasks such as reading online reviews, visiting properties, and canvassing overlooked maintenance issues or open units. Monitor thousands of units without spending thousands of hours.
Know what is happening before money is lost! Reveal the real story your property management team may not be reporting in weekly meetings. Don't wonder where the risk is coming from.
Supercharge your property management teams
With the right information at your fingertips, you can lead more productive managers and agents. Coach your teams like never before without the need to micromanage or spend huge amounts of time analyzing why things went wrong. Turn your teams into world-beaters.
Your daily execution is under your control. And ResiDesk gives you more on the data points that you can control.
Reach out to our team for a demo if you'd like to learn more!