Is it December already? Not only did this year fly by, but the month of December seems shorter than the rest. And with two weeks of reduced staffing at the end of the month, it can be daunting to tackle all you want to accomplish before saying goodbye to 2023.
Now is a great time to reflect on property management procedures within your manufactured housing communities. Below are some items you may want to review and resolve for both former and current residents before 2023 ends.
FORMER RESIDENTS: COLLECTIONS
What is your policy on writing off balances due from former residents?
Is it time to pull reports and review all former residents’ balances due for collection status?
Have you sent all your delinquent former residents to collections?
Have you considered automating your write-off process through your property management software instead of completing this manually?
FORMER RESIDENTS: CREDITS & SECURITY DEPOSITS
Have all security deposits been processed for the year?
Are there any former residents with credits left on their ledgers that need to be refunded or corrected due to errors?
How quickly are you processing your security deposit refunds?
Do you need to update your credits and/or security deposit policies for the new year?
Have you considered automating your statement of deposit accounting through your property management software?
CURRENT RESIDENTS: PENDING APPLICATIONS
Are all active reservations or applications accurate? Is this the time to cancel applicants who will clearly not be moving in?
Are there any changes you want to make to your resident screening criteria for 2024?
Have you prepared your monthly 2024 occupancy budget and sent it to your property management software provider to upload?
CURRENT RESIDENTS: CONCESSIONS & RECURRING CHARGES
Have you created a company-wide concessions matrix to ensure that only appropriate occupants will receive concessions in 2024?
Have you reviewed any sites without concessions that are being counted as non-revenue producing?
Have you reviewed any recurring charges to ensure that all new move-ins have been properly billed?
Have you run a calendar-year Payment Types report at the corporate level to see how successfully you converted residents who paid via checks and money orders into Resident Portal users?
Have you run a Rolling Occupancy report for the last 12 months?
Have you analyzed occupancy trends over the last year?
Does your current Resident Delinquency rate need intensive review before 2024?
Once you have reviewed these categories for 2023, you will want to look ahead to see what kinds of enhancements you can make for 2024.
2024 ENHANCEMENTS PROPERTY MANAGERS SHOULD MAKE
Develop a marketing campaign to encourage residents to sign up for Resident Portal.
Streamline your collections and write-off system.
Automate scheduled reports for occupancy and delinquency to send to relevant team members.
Revamp your home inventory system with APIs to MHVillage, your community website(s), and more.
Implement a review process for manager ledger credits.
Consider lease creation with DocuSign functionality.
These recommended enhancements are all services ManageAmerica offers, and they are just a few of the ways we can streamline your property management. Schedule some time with us—now or in the new year—to talk about what else we can do for you.
From the moment you begin working with ManageAmerica, you’ll see how our team’s professional service truly sets us apart. As experienced industry professionals, we understand the complexities of your business and pride ourselves on providing support that allows you to take full advantage of the benefits of using ManageAmerica’s products, features, and services. As partners in your success, we are committed to supporting your team's ongoing needs and growth.
May your end-of-year goals all be met with speed and success!