When potential clients reach out to inquire about our services, a common question is, “How many members of staff do you have working with you?” This question reflects the importance of knowing that their property manager has the necessary support to manage workloads and, ultimately, their assets effectively.
In my experience, a couple of tasks can consume a significant amount of my time. Here’s how I’ve tackled them:
1. Quarterly Site Inspections
Quarterly site inspections are essential for:
- Identifying Issues: Discovering damage, vandalism, or neglect before they escalate.
- Addressing Safety Concerns: Ensuring any safety issues are promptly addressed.
- Checking Maintenance: Confirming that necessary repairs are completed.
- Ensuring Quality Work: Verifying that all work meets industry standards and project specifications.
- Involving Residents: Providing tenants an opportunity to voice their concerns.
Solution
I’ve outsourced my quarterly site inspections to a trusted external fire risk consultant company. Having worked with them on our fire risk assessments, I’ve always been impressed by their knowledge, expertise, and attention to detail. Using an app called Safety Culture, we schedule site visits with the assessor, who then conduct the inspections. We receive the completed reports directly through the app, allowing us to take immediate action on any identified issues.
2. Purchase Ledger
The purchase ledger involves several time-consuming tasks:
- Processing Invoices: Matching, coding, and reconciling invoices with purchase orders.
- Setting Up Supplier Accounts: Creating and maintaining accurate supplier records.
- Reconciling Statements: Monthly reconciliation of supplier statements.
- Reconciling Client Bank Accounts: Monthly checks of all client bank accounts.
- Processing Payments: Uploading invoices for manager approval before payment.
- Preparing Reports: Assisting with purchase summaries and company reports.
- Maintaining Records: Logging, filing, and posting records in the purchase ledger.
- Issuing Remittance Advice: Sending remittance advice to suppliers after payments.
Solution
To manage this workload, I’ve outsourced the purchase ledger responsibilities to a reliable external accountancy firm. This decision has significantly lightened my workload, saving me around a week’s worth of time each month. I can now focus on my clients more effectively. The accountants have proven to be diligent, trustworthy, and possess an unmatched attention to detail.
Thanks to these strategies, I can manage my portfolio to a high standard. Larchfield’s reputation has rapidly grown, and it’s always rewarding to hear potential clients say, “You’ve been highly recommended to us.” I truly love my job and feel fortunate to work alongside amazing people who make my life easier, ultimately creating a hassle-free experience for my clients.
