Small business owners are always looking for savings that can help them reinvest in their business. Office overhead is one of these, but you want to ensure your employees have what they need to manage the business professionally. How can you maximize the space in a smaller office so that employees have room to grow your rental property management business?
According to the Chicago Tribune, investing in interior design is one of the most important ways to keep your employees productive and happy. When you're trying to squeeze more office into a small office space, go vertical. Add shelves above your desk that allow you to place less frequently used items into less-accessible areas. You can also hide items in plain sight: a coffee table can be a storage area if you choose a table with hidden drawers. Be efficient about your storage, and you can reduce both your office size and your storage costs.
As you strive to do more, you can try to use less. For example, turn your office spaces into places that act as a conference area, break room or working space depending on the time of day. NAIOP says that you should monitor room reservations and use to determine the efficient use of space and take action to discourage squatters. Encourage your spaces to transform into something else, and you'll save on the square footage you need to conduct your business.
Your equipment should be multifunctional, as well. You don't need a copier, printer, fax, and scanner when you can use a single piece of equipment capable of all of these functions. Seek out the smallest and most flexible piece of equipment for your needs, and you'll not only save on office equipment, you'll save on space as well.
Encourage Flexible Working Arrangements
As you try to remain a flexible and vibrant organization, you may need to hire additional employees- but this doesn't necessarily mean your office space needs to grow exponentially. Instead, take a look at other flexible working opportunities. Remote work can allow an administrator to focus on your rental property management without distractions while condensed work days give your employees longer hours to connect with tenants while they are home. Flexible working arrangements make it easier for employees to share work spaces or maintain their own home office while staying connected to the growth of your business.
Store Files in the Cloud
Whenever possible, go digital with the tracking of your files. Use online tenant portals to manage tenant communications whenever possible, reducing the need to have a large office space to maintain. Tenants will appreciate that you're conveniently available online when they need you, and your employees will appreciate the fact that they can work anywhere. You'll also need less office space because digital files don't require a real-life cabinet.
"Using cloud computing and having everything stored in the central database has allowed us to become a paperless office." - Chris Garner / Garner Properties and Management
Use Alternate Office Spaces
In addition to flexible work hours, use flexible office spaces. If your property managers visit different sites, look for cloud-based and mobile-friendly rental property management software so they can use a phone as a virtual office. When you're meeting with contractors or others, you don't need to meet at your offices. Meetings can occur on site, in cafes, or in other public spaces. Get creative, and you'll reduce your need for office space.
As you grow your rental property management business, turn to Propertyware to see how our software can help you. Our multifunctional software products are cloud-based, giving your employees a huge number of tools in a single product. Get pricing today and get started on your way to easier and better property management.