What are the key features of a good property management policy and procedure manual?

2 Define your policies

Next, you need to define your policies for each aspect of your property management. Policies are the general guidelines and principles that govern your decisions and actions. For example, you may have policies for tenant screening, rent collection, maintenance, inspections, evictions, and communication. Your policies should be clear, consistent, and fair to all parties involved. They should also align with your vision, mission, and values as a property manager.

3 Write your procedures

After you have defined your policies, you need to write your procedures for each policy. Procedures are the specific steps and instructions that you and your staff follow to implement your policies. For example, you may have procedures for how to conduct a tenant background check, how to issue a rent receipt, how to handle a maintenance request, how to perform an inspection, how to initiate an eviction, and how to respond to a tenant complaint. Your procedures should be detailed, accurate, and easy to follow. They should also include any forms, templates, or checklists that you use.

4 Format and organize your manual

Once you have written your policies and procedures, you need to format and organize your manual in a user-friendly way. You can use headings, subheadings, bullet points, tables, charts, and images to make your manual easy to read and navigate. You can also use a table of contents, an index, and a glossary to help your readers find the information they need. You can choose to print your manual or create a digital version that you can access online or on your property management system.

5 Train and update your staff

The final step is to train and update your staff on your manual. You need to ensure that everyone who is involved in your property management understands and follows your policies and procedures. You can conduct regular training sessions, workshops, or webinars to explain your manual and answer any questions. You can also use quizzes, surveys, or feedback forms to assess your staff's knowledge and performance. You should also review and update your manual periodically to reflect any changes in your business, laws, or best practices.