Overview

Before we can fix something, we need an understanding of how it works.

When trying to make improvements in your property management business, you will need a framework that describes how your business finds tenants, signs leases, takes care of tenants and turns over units.

If there’s a bottleneck in one aspect of the business, it is helpful to have a diagram on which we can pinpoint the bottleneck.

This will help us identify what else is affected.

That is what the Property Management Process Model is for.

Purpose

To help pinpoint areas of the business that need attention.

To provide your team a common vocabulary for discussing process improvement.

How to Use

The process model is the foundation for future metrics definition and process improvement activities.

Adapt the process model to how you run your company. Add / remove / rename the processes as it suits you. Once you have got the process defined, then you can use it for prioritizing the business processes that need the most attention.

Examples

Description

• The process model provides us a visual framework to explain how work gets done in a property management company.
• This is a generic diagram that covers the major areas of work in a property management company.
• In the upper part of the diagram we have the core functions … we call it the tenant cycle.
• It describes the lifecycle of a lease for a unit.
• We start with identifying a lead, then turning leads into leases, and eventually turning over the unit once the lease ends.
• On the bottom are the support processes.
• And all of these are built on a foundation of strategic planning and performance management.
• This framework is useful tool for getting teams on the same page about how work gets done, and which departments need to work together to provide a positive customer experience.
• The diagram is meant to be adapted to how you run your company.