Blog Post

FIVE BENEFITS OF USING A PROFESSIONAL MANAGEMENT COMPANY

Sep 17, 2018
If you are self-managing your investment properties, you are missing out on the many benefits of using a property management company. Professional management teams are highly trained to limit liability, reduce vacancy, and lower costs all without incurring deferred maintenance. The following benefits are how The Management Works can help you.

1. Increase Listing Visibility
Increasing visibility via powerful online tools means less time your unit remains vacant. The Management Works uses software that uploads your listing to dozens of websites to reach a greater number of applicants, which increases the chance of finding an excellent renter. This technology allows us to track inquiries and maximize efficiencies of your advertising budget. Gone are the days of manually uploading listings to sites like Craigslist. The process is now streamlined and automated.

2. Decrease Maintenance Costs
Our software allows residents to submit maintenance requests remotely from anywhere, 24-hours a day. This means no more late-night phone calls about backed-up toilets. It automatically logs maintenance requests and assigns the unit number, allowing you to track and prioritize your maintenance team efficiently. You may access all maintenance records including the dates they were completed. Finally, tracking costs per unit has never been easier because bills and invoices can be posted quickly. This is an important feature if you ever want to understand a certain maintenance job or cost.

3. Online Payments
Today 60% of people use a mobile device to search for apartments. A similar number of people use their devices for online bill pay. By using The Management Works software, we can encourage online payments. Tenants can conveniently pay via e-check and set up autopayments directly from their checking or credit card accounts. Rent payments are collected faster and with more reliability thanks to the built-in security measures. Your residents will love the ease and consistency of this system.

4. Economies of Scale
The Management Works uses project managers to save you money on capital expense projects. Their job is to get you the best vendor for the best price. They accomplish this through vendor management. Since The Management Works orders thousands of dollars’ worth of materials each month, we get large discounts from suppliers. In addition, each vendor is thoroughly vetted, and contracts are rebid each year to take advantage of competitive pricing.

5. Fast Property Reports
Ever wonder how your property is performing? Unless you have accounting experience, it is difficult for owner-managers to prepare their own financial statements. The Management Works provides current financial reports via an owner portal. These are accessible anytime, anywhere and give you a complete picture of, your income and expenses. We strive to be completely transparent. With these reports, you can see how your property is performing.

By using The Management Works team, you will benefit from increased access to technology both for advertising and reporting purposes. You also benefit from the economies of scale and vendor connections of a professional project manager. If you have not considered hiring a property management company to handle your investments, contact The Management Works today to find out how we can help you maximize your investment’s potential.

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By Adam F 18 Dec, 2023
Ghetto Rescue believes that "all animals, regardless of their zip code, deserve to thrive."
covid-19 written in medication with virus graphics
By Sarah B 15 Feb, 2021
As COVID cases continue to impact Southern California, The Management Works is staying vigilant and taking all possible precautions through the coming winter months. There are many different measures that The Management Works has implemented since the start of the pandemic to keep residents and team members as safe as possible. All CDC guidelines are followed when interacting with current residents, prospective residents, and vendors. One tool which was previously in place for the convenience of residents turned out to be extremely helpful once the virus hit the United States. The Managements Works utilizes an online portal where residents and owners can easily access online statements, update renter’s insurance, and pay rent. Important maintenance work is also able to be effortlessly requested on the website. All leasing offices are closed to the public to minimize in-person contact, so we have increased our online and phone communication to stay responsive and helpful to residents. To protect our staff and eliminate unnecessary exposure for residents, we have confined our maintenance work to emergency requests only. When our staff does need to enter a unit, a PPE (personal protective equipment) is worn for the entire duration of the project. All maintenance work is completed with the utmost care and precaution. Before entering a unit to begin work, managers will check with residents to ensure they are feeling well and have not been in contact with anyone who tested positive for COVID-19. Work orders can always be rescheduled if necessary. Maintenance work areas are sanitized, and new sanitizing equipment is provided regularly to employees. Face coverings are worn by our staff for the entire workday, both inside and outside, to protect residents and team members. Prospective residents still need to be able to view potential apartments before deciding, so we have many 3D virtual tours available in an attempt to limit the need for in-person viewings. If someone still requests an in-person tour, we provide a lock box code which is changed daily. All units are also disinfected between viewings.
Example of survey response from a resident reading
By Sarah B 14 Nov, 2020
At the Management Works, our biggest priority is ensuring that our residents are happy with their homes. We seek to improve wherever we can and foster an environment of open communication with everyone living in a property we manage. One way we facilitate this is by surveying our residents after they move in, after they move out, and following maintenance visits. Using our online platform, residents can easily give a star rating out of 5 and answer a few questions. This provides a straightforward way to track how our residents feel after each important interaction, while simultaneously allowing us to see where we might improve. By providing an almost effortless way for residents to give feedback, we find they are more likely to respond and offer constructive comments. Property managers read through these surveys and track progress over time. We often reach out to individual residents following the surveys if they were not satisfied with any part of the moving or maintenance work process to ensure we fully understand their concerns.
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