Process Improvement Questionnaire
Decide where to make fact-based process improvements
Examples of questions included …
- Which processes are we executing consistently well?
- Which are the top 3 processes we need to become more consistent at executing?
- Which of our processes directly impact tenant satisfaction, profitability, tenant retention, lead conversion, rent collection, delinquent amount ….?
Also learn about the “Quality Calculator” to quantify the price you pay for poorly-executed process
What processes do you need to bring under control?
- Investors don’t see expected returns unless the business strategy is well-executed
- Good execution means performing some business processes consistently well
- For example, processes such as the following need to be performed very well :
- Lead Management
- Lease Application Processing
- Rent Collection
- Customer Service
- A “defect”, such as not following up on a lead, or not having documents ready for lease signing have a “cost”, so it is necessary to minimize defects in our processes
Benefits of Process Improvement :
- Solid processes are essential for being in business. Property management companies that are dropping the ball see it in reviews, referrals and lease terminations.
- Having better processes (fewer defects), in fact, costs less than poorly executed processes
- Undertaking process improvement does not require significant investments. It does require a mindset change in leadership and employee coaching and development
- Companies don’t have the executive commitment to achieve “zero defects” in their key business processes
- Process improvement training is not provided to employees
- Process metrics are not widely tracked or published
- Metric-X has a process improvement methodology for property management companies
- Our “Cost of Quality Calculator” helps companies identify defects and the frequency and “cost” of the defects
- We also analyze process level data (such as the time taken to close tickets or the time between receiving a lead and signing a lease), and use histograms, Pareto charts and other analyses to identify problem areas
- After the initial analysis, we help companies implement continuous improvement programs in chosen business processes
Our solutions are built on the RentViewer software. RentViewer connects to data sources (such as Property Management Systems, other systems and Excel files), collates the data and enables the creation of Executive Dashboards, Custom Reports and Analytical Solutions
Do you have questions and need detailed explanation of how our product could help your businness?
The Property Management Metrics Handbook
Which property management metrics are important to you?
See a list of over 100 metrics for categories such as:
- Lead Management Metrics
- Lease Application Metrics
- Unit Turnover Metrics
Use the Handbook for ideas on metrics that will be useful to your company.
Decide which property management metrics should be tracked and used for setting improvement goals.