Question #12: What’s your Property’s Financial Stage?

3 question marks-graphic

With your team, administration, committee, board, etc., take a look at the graphic.

Financial stages of property management4

 

  • What is the current financial stage of your property? Or does it span more than one? Has the organization always been in the same stage?
  • How is your organization strategically moving into the next stage?
  • What are the leadership skillsets needed to move into the next stage?
  • Is the current stage properly staffed? Are different skillsets needed for the next stage?
  • How does your risk management plan change when moving from one stage to another?
  • How does your property insurance rates change when moving from one stage to another?
  • How are you leveraging software tools to provide the information you need? (Lodgepole Property System tools are applicable for stages 2-5)

About the series. Each month, a site and facilities question will be posed that you can discuss with your staff.

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