Property Management Inside Look: Why Your Calls Aren’t Always Answered
Ever wanted to see how a Property Management Company (PMC) operates—on the inside? Well, look no further because we’re getting into the nitty-gritty to show you the behind-the-scenes of PMCs. From how we manage our calls to other internal data, we’ll cover it all.
The reality is managing rental properties is difficult and time-consuming, especially if you have more than a couple of homes in your portfolio. The income isn’t as “passive” as you might expect, considering that you have to deal with tenant issues, property maintenance, and more.
As a result, a lot of landlords turn to professional help for third-party management. These extra sets of hands are called property management companies or PMCs. When working with them, they can conduct your rental business on your behalf in exchange for a small percentage of your rental income.
But how do they work and how does a good PMC differ from a bad one?
In this ongoing series, we’ll dive into how PMCs operate, so you know what to look for when you go scouting for a PMC to handle your investments.
What to Expect Going Forward:
Running a PMC is no small feat, but we’ve been in the business for over two decades now. In that time, we’ve learned a lot about how to run our business and the best way to help our clients run theirs. We’ll cover a range of topics but here are some of them.
Just click the link to see our previously published articles:
How LPM Manages Our Call Volume
After handling multiple portfolios for many clients, we’ve calibrated our services to what constitutes a good property management company as much as possible.
For example, we regularly check our call volumes to understand what days of the week and times of the day we receive the most incoming calls. By having complete visibility, we know how to maximize and organize our resources for maximum call coverage, improving our client services.
Here’s a peek at our call volumes:
- Week 1: Busiest days of the week were Tuesday (with 29 calls) and Wednesday (with 27 calls), where the bulk of the calls came in after dinner time and into the wee hours of the morning.
We see that our clients generally need our help during the night time until the early hours of the morning, and usually get in touch with us from Monday to Wednesday. To meet that demand, we’ve assigned more managers and key individuals to these times and days.
Here are screenshots of our internal charts:
We also check all of our missed calls, so we know where to allocate more of our resources in service to our clients. We see that our missed opportunities were mostly in the second half of the month, so we’ve done the necessary adjustments to ensure that we’ve got everyone covered:
We handle our call volumes with utmost care and visibility to our clients. Not all property management companies go above and beyond for their clients.
Going Above and Beyond Working With the Right Partners
We prioritize continuous improvement and take a proactive approach to maintenance and tenant management. At LPM, you can be confident you’ll receive personalized services, efficient processes, and assistance when you need it most.
Want to learn more about how PMCs work? Then stick around for our series where we take an inside look at how PMCs operate. We’re spilling all the secrets so you can learn what to look for when you need help managing your own rental portfolio.
If you’re looking for a good rental property management company to work with, get in touch with our team!