There has never been a better time to be an estate manager. In the past one of your greatest challenges would have been figuring out how to be in several places at once; now, thanks to a host of online tools such as tenant portals and virtual tours, it is possible to handle most, if not all, of your responsibilities remotely. There are also project management platforms that help you bring renovations or special events held on the property to completion, again without having to be a constant physical presence. However, while these tools have made things exponentially easier, you still must be able to integrate daily and monthly tasks with long-term goals like making the property more efficient and profitable. Enter all-in-one solutions such as EstateSpace, that allow you to balance regular workflows with the bigger picture, whether you are managing summer homes for a handful of select clients or apartment complexes with hundreds of tenants.
One of the best features of project management platforms is the ability to create a catalog of properties that is both comprehensive and easy to navigate. Each property has its own unique charm – and its own long list of things that must happen regularly in order to run smoothly. For example, a beach house in the Hamptons will have a very different checklist from a duplex in Manhattan, from yearly winterizing to seasonal assessments to make sure it is properly protected from hurricanes and superstorms. A multi-dwelling property will need policies and procedures in place that address the safety and sometimes competing desires of its tenants. Other factors, such as the age of the property and how often it is in use, will also determine the level of attention required. Using the tool, you can store photos of each property, as well as documentation like expense reports, blueprints, work permits, and information about individual tenants, that you can access at any time, from any place in the world.
These tools also help you manage the vendors, service providers, contractors, and so on who is doing the heavy lifting on-site. It has always been a challenge to find skilled individuals and teams who can take your direction and work independently without constant oversight – and even more so if you are managing a property that is a long drive or plane ride away. Though you may not be able to pop in at a moment’s notice, you can still hold them accountable using shared documents that lay out both regular workflows and timelines for larger projects. Everyone will be responsible for updating these documents and uploading photos of their progress or snags they’ve hit along the way. You can also use the messaging feature to clarify instructions or pivot when a delivery is late, there is a weather event, or someone calls out sick.
While there are many benefits of working remotely, it does bring added responsibility – for example, you will have to make it clear to your clients and tenants that you are accessible to them and working to address their needs. That said, these project management tools are a game-changer, empowering you to expand your business and manage properties already under your care more efficiently, while making your life – and the lives of their owners – a whole lot easier.