Well, there may not be a better time to be in the property rental business than these days. As the virus remains at large, rental prices are rising all over the land. To a large degree, that can undoubtedly be good news for you. While you’re busy making sure your tenants are getting the most bang for their buck (and you should), it’s paramount you keep your office in order. That way, you keep overhead at the utmost minimum.
Then again, being efficient in the back office means better service for everyone, especially your tenants. That should translate to better business for you. The problem with most rental offices, though, is space. More often than not, you may not have the luxury of ample office space to accommodate everything your staff needs. But that should not stop you from making sure your people are well equipped to function in a very competitive world. After all, making your office as productive as it can be is not an option if you want to grow your rental business. It’s a must.
Luckily, maximizing your office space isn’t a lost cause. Put in place tried-and-tested methodologies and a bit of effort on everyone, and you should be hopping into a most productive rental office in no time.
To boot, know that business in rentals grows stronger, and there’s a housing boom all over the land. That certainly sounds strange even for experts. For one, $1 trillion in added home equity was collected by homeowners from the period of September 2019 to September 2020.
That should be welcome news for you. It can signal a more significant opportunity ahead should you play your cards right.
To have a more productive office space when it’s not as spacious, you need to go vertical. Or in real estate, it’s to go the skyscraper’s way. Maximize the space above for storage and all.
And that can pay huge dividends for you. Studies show a good interior design is a surefire way to make your workers happy and productive.
To do that, you can make the most of the space above your desk and add shelves. By doing so, you can place items that are less frequently used in less accessible areas. For instance, you can put office document consumables such as bond paper and binding covers there.
Moreover, you can also make the most of hidden storage. A coffee table, for one, with hidden drawers is a good example. When you’re efficient in your storage, not only do you reduce your storage costs, but you also maximize your office space.
Another excellent way for you to maximize your space is to use it for other functions. Instead of just using it as a workplace, why not turn your office into a conference room? Or, for that matter, a break room? When you have that multifunctional mindset, you make the most of your space without having to spend so much. A tweak in the schedules should get things going.
This also goes for your equipment. Why use one machine for photocopying and another for fax and another to scan things when you can have all those functions in a four-in-one multifunction device? It saves a lot of space and money. You can apply such a mentality to other things in your office.
Use Flexible Working Arrangements
As your business grows, so does your need for more employees. That can be scary if your office space is severely limited. However, an excellent way to counter that is to explore other working arrangements.
While having people work in the office has its merits, working remotely at a home office can mean greater productivity for you. That can undoubtedly mean greater focus for an administrator to work on your property. Additionally, condensed workdays can mean your employees can interact with tenants when they’re home after work.
There’s a slew of working arrangements you can explore. So long as you are open to applying what works best, you should be good to go.
There are many ways technology can help you make the most of your office space. Physically, you can minimize the need to store tenant files if you use the cloud. That way, you can have your employees pore over tenant documents even when they’re miles away. Also, that gives you greater leverage to show your tenants needed papers even when you’re not in the office.
Additionally, cloud computing allows your employees to work remotely, reducing the need for more office space. It’s a convenient way to run an organization. Online tenant portals are another way technology can help you run the business. Increasingly, technology allows your office to function even without the benefits of physical space. Exploring it, therefore, is a must, assuming you’re all in for more remarkable growth.