Lease renewals are a core workflow in property management that need to be executed with care and professionalism to get the desired outcome.

As is the case with property management in general, the lease renewal process depends on a series of decisions made by the property manager, property owner, and the tenant which can be unpredictable and demands adaptability on the part of the property manager to avoid delays, frustration, and unnecessary costs.

The dependency on decisions made by owners and tenants means that it is absolutely critical to stay ahead of the game and maintain a consistent flow of communication with both the owner and the tenant to ensure they are comfortable with moving forward, whether that be renewing the lease or vacating the property.

In this post, I’m going to run through the lease renewal process, break down what it involves, explain how a smooth process benefits your property management firm, provide some tips for handling key components like raising rent, negotiating, and evaluating the suitability of month-to-month leases.

Finally, I’ll go through how simple workflow software can streamline the whole process and help you avoid facing challenges that stifle growth, namely having to constantly find, screen and onboard new tenants. Though this is sometimes unavoidable, a formal, documented process that is followed by your team and tracked by managers puts you in the best position to manage the lease renewal process as effectively as possible.

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There is a need for digital transformation in property management

There is no easy way to summarize the role of a property manager in a way that really captures the wide range of responsibilities they have.

In essence, it’s all about communication. Interactions with property owners, tenants, and employees all need to be coordinated with efficiency and professionalism in order to keep all parties satisfied, establish a loyal customer base and enable future growth in a tough market.

Basically, managing properties isn’t just about real estate — it’s just as much about relationships.

You have to track conversations and deal statuses across multiple landlords, tenants, and applicants in addition to managing the properties themselves. It’s high-touch, high-urgency, and high-stress work.

“Communication can easily become chaos if not handled correctly. Between phone calls, text messages, emails, and walk-in traffic, it can be hard to keep tenants, owners, and staff on the same page. Documentation is very important to avoid miscommunication.” – Nick D’Agnillo, CEO & Founder of Nexus Property Management

The extent of human interaction that is integral to property management creates a large margin for human error. Poor lead management, documentation of calls/emails, inspection coordination, tenant screening, and maintenance work orders are just a few examples of tasks/processes that are difficult to execute consistently without the assistance of workflow software running in the background.

As a result, property management firms are beginning to place a greater focus on improving business efficiency by formally documenting their processes and integrating workflow software, because it enables them to deliver their clients a superior service, while also providing employees with the tools they need to perform at their best.

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This is not just another blog post on workflow software, describing what it is and why it’s important.

Nevertheless, I will quickly mention for those of you who doubt its importance, that the global market size of workflow management systems is estimated to grow at a staggering rate of 23% from 2016 to 2021, shooting up in value from $3.5 billion to just under $10 billion.

In short, it has already begun to establish itself as a key competitive battleground for years to come.

The intent of this post is to provide a comprehensive evaluation of the purpose and use of workflow software, its application in various industries, the role of automation, methods for continuous improvement, and top tips for getting started in a fast, high-impact fashion.

It’s long, it’s heavy, it’s everything you need to know.

Ultimately, I am aiming to provide a practical guide to help you get the most out of the software you use for workflow management.

If you don’t currently use software to manage your workflows, then you must be at least considering it, otherwise you wouldn’t be spending valuable minutes of your day reading this.

In any case, skim through, extract any nuggets of information you find useful, think about your internal business processes and how getting started could improve your team’s productivity and forward strategic goals. It really is surprisingly easy (and affordable) to get the ball rolling.

The goal of this post is to provide you with clear information you need to:

• Understand what workflow software is, how it works and key features
• Evaluate whether or not you need workflow software right now
• Understand the benefits of utilizing workflow software
• Know how you can get started quickly and with minimal stress
• Implement workflows effectively with a 5-step process
• Have a solid understanding of how to set up automation for even greater efficiency
• Set yourself up to achieve both short-term and long-term strategic goals

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When an employee has decided to part ways with your company, they are simultaneously opening a window of opportunity for you, as the employer, to gain valuable insight into why they have decided to move on, what went wrong (if anything), and what can be done in the workplace to improve retention and company culture.

Considering the disappointing nature of employee termination, many employers fail to recognize this opportunity, and wave goodbye to their former employees without learning anything.

“Let’s just get it done with and move on” is a way of summarizing this attitude.

Furthermore, they fail to close the relationship on a positive note by showing the individual that they care about listening to their thoughts, and taking action to improve employee morale in the future.

This is a grave mistake, because not only are you missing valuable, actionable insights which will help you attract and retain top talent, but you are also leaving a trail of disappointed, perhaps bitter former employees that can damage your reputation amongst job seekers.

Not to mention, employee turnover is expensive, and failing to take preventative measures is nothing short of shooting yourself in the foot, financially as well as in terms of your brand reputation.

“Experts estimate that the cost of a lost employee is anywhere from tens of thousands of dollars to 1.5-2.0 times an employee’s annual salary. The bottom line for organizations: Turnover, if not systematically studied and understood, can impede achievement of organizational outcomes.” – Jack Altman, How Much Does Employee Turnover Really Cost?

And so, conducting a structured exit interview with a departing employee is an incredibly important, often overlooked part of the offboarding process.

In this Process Street post, we’re going to be looking at:

• What the purpose of an exit interview is, the best time to conduct one, choosing the right method, and important data points to gather
• Examples of excellent exit interview questions
• How to establish a process for flawless execution every time
• How to effectively leverage exit interview data

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The real estate market is known to require a significant level of human interaction, but to what extent is the human touch really necessary for delivering a high-quality service for each and every customer?

The human-intensive nature of real estate creates a large margin for human error. Poor lead management, documentation, appointment coordination, tenant screening, and maintenance supervision are just a few examples of tasks/processes that are difficult to execute consistently without the assistance of automation software working in the background.

“Real estate is a market that is ripe for technological disruption. Whatever can be automated should be automated!” – Jyotirmay Samanta, How to Automate Your Real Estate Business?

Some of you property managers out there may claim that diving headfirst into the automation craze sweeping the business world is not such a good idea, as it undermines the face-to-face interactions that play such an important role in the field.

This is not entirely wrong, but all things considered, deciding to ignore new ways of streamlining processes will leave you in the dust as your competitors continue to find new ways of being more efficient.

Plus, some industry thought leaders believe that automation actually humanizes the property management experience even more:

“One of the most effective ways to humanize the property management experience is by providing better communication. Figuring out what residents want in order to improve service can be a complicated and daunting task. But today, a company can easily leverage automated surveys and other forms of real-time communication to glean real, useful feedback from residents.” – Doug Brien – How Technology And Automation Humanize The Property Management Experience

Recently, it was reported that total investment in real estate tech has ballooned from $33 million in 2010 to more than $5 billion in 2017. That is nothing short of astounding, especially when you consider the market’s volatility over the past decade.

Technology is driving the evolution of real estate, and market players need to keep up if they want any hope of leading the charge.

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Whether the number of possible business processes is finite or infinite is debatable. Needless to say, there are a lot.

You can start with a broad, complex discipline like operations, mapping out the general, high-level process, and go on to create a vast amount of sub-processes that fall under the same area.

How granular you go is really up to you, and depends on what is most suitable for the way you conduct business.

There are, however, a number of processes that are absolutely essential to efficiently running any kind of business, regardless of size, industry, or location.

Processes that, without clear documentation and management, will cause bottlenecks that stifle growth or at worst, force an organization to close its doors.

In this post, we’re going to be looking at what we, here at Process Street, have identified as the top 10 business processes that you should care about and focus on continuously optimizing.

These are the big dogs. The greatest hits.

Each process will be paired with at least one fully customizable template that will help you get started or evaluate and refine your current processes depending on what stage you are at in mapping out and implementing your own.

My hope is that you will not only extract valuable insight from this article, but also find ways to apply the templates that have been provided in a way that is practical and useful for your team or organization as a whole.

Let’s get into it.

Oh, and bear in mind, these are in no particular order.

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Process mapping is a useful tool for what can be summed up as “seeing the big picture and little pictures at the same time”.

That may sound silly to you, but that’s really what it is.

The primary benefit achieved from mapping out your business processes is that you can accurately evaluate each of the steps needed to complete a certain workflow, while understanding exactly how each of them interacts with one another and contributes to the process as a whole.

This ability to evaluate all aspects of a process helps managers identify constraints, opportunities for improvement, and formulate strategies to implement changes without disrupting day-to-day work.

But how do you go about ensuring that the time and effort you put into constructing these maps translates into improved performance?

That’s the question we’ll be tackling in this post.

Before doing so, however, we must acknowledge that there is a huge range of complexity when it comes to methods for process mapping. If you are a small organization it can be as simple as drawing it out on a whiteboard, whereas enterprises use sophisticated mapping software tools like Appian and Lucidchart.

This point regarding complexity and different kinds of process maps leads us to another important sub-topic that needs to be addressed early on – the difference between process mapping and process modeling.

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There are numerous features of Process Street that make the platform as useful as it is for managing recurring workflows and processes.

Beyond the ability to create process checklists, features such as form fields, rich media, conditional logic, real-time tracking, and the ability to set up automation with 1000+ other applications, provide a huge amount of value.

In this post, we’re going to take a closer look at one feature in particular: form fields.

An essential component of our software, form fields allow users to safely store important data that can then be automatically passed to and from other tools in your tech stack.

The goal of the post is to show you how you can name your form fields so that they are as effective as possible when used by other team members, as well as suppliers and customers who may be interacting with your checklists.

First, I’ll run through a brief overview of form fields, the various different types, and what value they provide. Then we’ll take a quick look at some typical use cases that will give you a better idea of when they are used, before going through a set of naming best practices with examples.

Let’s get started.

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“How did I forget to follow up with that client?”

There was a time when I used to think that as another golden opportunity passed me by. It’s tough enough being a freelancer and having to both find clients and secure them in such a competitive scene without adding human error into the mix.

Nowadays, I’ve largely mitigated the frustration that comes with making avoidable errors, letting me massively boost my consistency and productivity, and it’s all thanks to process documentation.

Having a documented process to work through is insanely useful. I’m here to tell you exactly why you need to be using processes in your work and give some freelance tips on how you can start noticing the benefits in no time. Let’s get started.

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Renegard uses Process Street to enable manual, on-the-ground workers to execute tasks more efficiently and enable their managers to oversee all activity in real-time. They also use process automation to streamline the hiring and onboarding process. We spoke to their CEO, David Martin, about how they are using Process Street, what benefits they are experiencing, and how Renegard sees their usage of the platform progressing in the future.

The Renegard Story

From pickup trucks to boats and large-scale construction equipment, Renegard provides its customers with high-performance protective coating for a range of vehicles.

Ultimately, their mission is to help you get the most out of your vehicle by applying coatings that are guaranteed to protect it from wear and tear as well as more significant damage.

Their two trademarked products, Alphagard and Solargard, are extremely tough coatings that can be used for both interior and exterior applications. They are available in a variety of colors and can be custom color matched.

Given that they apply their coatings to vehicles all across the US, Renegard employs a large number of contractors to perform the manual-intensive work. These individuals need to follow strict processes in order to ensure that coatings are applied in the proper way each and every time.

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