When I took over the management of my family’s real estate holdings, I knew that I needed to have a property management business plan in order to sustain the success that we have always enjoyed with our properties. My father has always believed that we must work hard to maintain what we have, which is why all of us kids have different positions within the company. I was actually excited about taking over this area, as it is what I had studied in college as well. It is funny though, because I ended up using an online resource even more than what I had learned in school.
Granted, I knew a lot because of the classes, but this is a business that is constantly changing. I needed to stay updated with everything going on, and I found a website that has all the latest in investments, litigations, and so much more. I even found some ways to improve our image and to help the tenants improve theirs as well. Though we have both commercial and residential investments, I was mainly focused on the apartment complexes we have. We have eight different ones with our largest having over 1,000 units.
I was very unhappy in the two apartments I lived in while I was going to college, and I wanted to make sure that no one had that experience living in one of ours. I learned a good bit about marketing, trends and even things like how to make the complex tenants feel more like a family than strangers. The intriguing part is that I was able to get all of this and much more from just one website. It is really good information too, because we have waiting lists at all of our complexes. Word gets out when a place is good, and ours is definitely better than that!