How Nexus Property Management Is Like The Most Successful Companies in the World
The most successful people and businesses alike are grounded in essential principles and values that operate as a compass for all of their decisions. This is key in both establishing best practices, but even more importantly, in allowing for scalable growth. Nexus Property Management®, the largest property management company in Southern New England, adopted that blueprint from day one and has used it on it’s way to becoming a nationwide franchise. With over 1000 units under management in Rhode Island and Massachusetts at the time of this post, Nexus’ policies have proven to scale well and they have successfully distanced themselves from their local competition.
But it takes even more to become an elite company. There are a handful of companies that everyone knows of that dominate much more than just their own industries. These are companies that are internationally recognizable brands because they expanded beyond their original principles and dedicated themselves to transforming the way people interacted with their products. It’s easy to forget that Netflix’ earliest success came in the form of efficiently mailing DVDs, well before they solidified streaming as the norm. Likewise, it’s tough to remember while eating sushi at Whole Foods that their parent company, Amazon, began as an online bookstore. The short of it is this: the truly great companies look for ways to revolutionize the industry. Nexus Property Management subscribes to this model and one example is the creation of their own proprietary software, Nexus Back Office™.
What is Nexus Back Office™?
Nexus Back Office™ is proprietary software that Nexus Property Management created to streamline their operations as a three-pronged property management company that provides maintenance, leasing, and management services. All members of the team have access to the software and interact with it in real time; whether it’s a maintenance technician who just finished a work order or the leasing director performing a showing for a vacant unit. Nexus Back Office™ has evolved with the company so it continues to meet the ever changing needs of the rapidly growing and evolving industry. To build on the Netflix example above, the company was dedicated to changing the game in terms of how society accessed entertainment, so they could focus on building content rather than how to navigate the U.S. Postal system. In the same way, Nexus allows its staff to focus on what they do best, adding value to owners’ properties, without being weighed down by tedious tasks such as tracking materials, documenting hours worked and services provided, creating customer invoices, or the myriad time-consuming tasks that can slow down team members who are eager to get back in the trenches.
Why Nexus Back Office™?
Nexus’ automated software makes it easy to replace secretarial costs and save valuable time. In property management, anytime spent on tasks other than actively managing property is an unnecessary cost for clients. If you’re busy counting money then you’re not working to improve properties or efficiently responding to tenants’ concerns. In the early years, Nexus had to do payroll by hand. In addition to processing invoices and balancing against materials to pay staff, a property manager also has to record and process all rents collected...which is a monumental task. However, what once took upwards of days now takes only a couple minutes at the most. If your property manager doesn’t have Back Office™ it’s likely their inefficiency is costing you money.
Nexus Property Management has created and is now offering to share a key cog in their superior efficiency. Like all great companies today, Nexus is dedicated to both its industry leading policies and principles as well as technology development. With this trajectory and growing experience, the gap between Nexus and its competitors will continue to widen. Like the worlds that Netflix and Amazon inhabit, property management is another area that fares well regardless of economic downturn. To learn more about Back Office™ or inquire about franchise opportunities, contact Nexus Property Management VP of Sales, Gregory Rice.
Mick Lefort is the Vice President of Operations for Nexus Property Management®. A National Property Management Franchise that manages all types of rental property from single family homes or condos to large apartment buildings and complexes.
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