Franchisee Insight Sharpens The Blade Of Nexus Property Management® Business Model.
The Nexus Property Management® Headquarters Office recently received an idea from the Fall River, MA Nexus Office in regards to the new client sign-up process. The franchisee, Lyndsey Pachon, stated that our current sign up process (requiring clients to email back certain information) was clunky and often incomplete. To make her life easier she instead created a Google doc form that simplified the process a tad. After reviewing her form and discussing with our software programmers we were able to create an ONLINE SIGN-UP form in which clients could click the link, enter their info, enter the tenant's info, and be ready to go! In turn, the franchisee receives a 1-page PDF document of the client's information. This makes the sign-up process much more efficient and eliminates the potential for incomplete forms as well.
Sign Up For Property Management Online Instantly.
The way the form works is the client starts out by entering in their full name, mailing address, phone number, and email. From there, the client has the ability to enter in the property (or property's) information accompanied by the tenant's names, rent amount, phone number, and email.
At the bottom of this form there is a catch-all field in where the client can enter any specific notes or considerations the management team should know. Such information could include alarm codes, current stipulation agreements, special arrangements with tenants, contact info for preferred vendors, and so on.
Finally, the client can then upload as many documents as they want to accompany the sign-up form. Such documents typically would include tenant leases, vendor contracts, court agreements, additional insured information, etc. Then, when completed with this the client enters in their SSN or EIN which is securely encrypted into our software program.
The Property Management Authority™ Looking For Constant Improvement.
When asked about this topic Mrs. Pachon had this to say:
"At a little over a year into operations at Nexus Property Management® (Fall River) we have approximately 350 units under management and a different perspective than we had a year ago. Nexus has set us up for success much in the same way a good coach would, we have all of the plays but it's up to us to carry them out successfully. I have consistently been supported by the efficient systems Nick and Greg have implemented. With my more experienced perspective I am able to pinpoint inefficiencies in a way that I couldn't before. A few weeks ago it occurred to me that our sign-up process for new owners was not a strong representation of our business model. The checklist we were providing to get information for new portfolios was clunky and often left us without all of the information we needed. I expressed this concern to Nick to which he said 'I'll clean it up for you'. A week later we had a new page on our website for new clients to fill our a new and improved New Account Checklist. This is a perfect example of why Nexus is so successful. Identifying inefficiencies and correcting them is like a religion to Nick and Greg. It would be so easy to choose complacency, but they never do." - Lyndsey Pachon
Nexus Property Management® has learned a great deal about this business over the years, but we are by no means perfect. Together, as we grow, we will always work with our franchisees to make our systems more efficient. One of Nexus’ favorite stories to reference is that of the egg McMuffin. Many people do not know this but the concept of a breakfast sandwich was foreign to McDonalds up until the 1970’s. It was collaboration between a franchisee, the franchisor (Ray Kroc), and board members that led to the creation (and presentation) that we all know and love today! If McDonalds had a top down ruling system (as most franchises do) there would be no room for growth or creativity. The point of a franchise is to collaboratively and continuously improve system efficiency and operations as a team. There is no end, and there is no final product; it is always evolving!
We would love to hear your feedback on this topic! Post a comment below so we can start a discussion!
Gregory Rice is the Vice President of franchise sales for Nexus Property Management®.
Nexus Property Management® is 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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