When choosing leaders for your property management firm, intelligence is a critical factor. It’s important to note, however, that there are a few different kinds of intelligence. For the sake of this article, we are referring to emotional intelligence, sometimes called EQ for short. Having leaders with strong EQ can improve the happiness and productivity of your employees, which can ultimately impact your company’s bottom line. Let’s take a closer look at exactly what emotional intelligence is, why it matters and four ways to spot leaders who have what it takes.
YouTube is the second largest search engine and the third most visited site after Google and Facebook. Users consume 3.35 billion hours of video on YouTube each and every month. To say this video sharing network is a marketing goldmine would be an understatement. And given the visual nature of the property management industry, it’s a natural fit. That is, of course, provided that your videos are actually getting found and being watched. If your YouTube performance could use a little boost, here are some expert optimization tips you may want to try.
One of the nicest features of modern property management software is that it offers the ability for residents to handle many of their own actions electronically, without the need for assistance from a human agent. Through the self-service portal, people can process online payments, access details about their rental contract, submit maintenance requests and more. Not only is this more convenient for them, but it’s also good for your busy staff. Of course, not everyone will be willing to jump onboard right off the bat. Here are four things you can do to gently persuade them to give the portal a try.
While it can seem intimidating at first, many property managers find great success in adding properties to their portfolio that are out of their general geographical area. The ability to tap into other markets outside your own can bring tremendous opportunity to grow and increase your profitability. Does it make sense for you to jump in and take the plunge? To make that decision, consider the following pros and cons.
Successful companies solve problems. They do this by employing leaders who are capable of making smart decisions, coming up with innovative ideas and overcoming obstacles that are standing in their way. How skilled are you at problem-solving? Do you have what it takes to drive your property management business forward competitively? Are you doing enough to keep your employees, customers and stakeholders happy? If you could use a little help in this area, as many of us could, here are a few critical skills to focus on developing.
Is your property management team dangerously close to burnout? According to the Harvard Business Review, employees that regularly take breaks and time off have 30 percent more focus than their colleagues. Furthermore, workers who feel supported by their managers in this area are nearly 100 percent more loyal.
Being in property management involves a good deal of record keeping, including the sensitive data of your employees and clients. What would happen if a hacker were to gain access to your network? Could your organization survive the monetary and reputational impact of a security breach? If you are operating under any of the following cybersecurity myths, you may have to learn this the hard way. Here’s what you need to know to keep your data safe from falling into the wrong hands.
These days, when someone is looking for information about a business, they’ll do so almost exclusively on the internet. You’ve probably already invested in a quality website, but is it really enough to make your firm stand out amidst all the other property management companies in the area?
Is collaboration really that important? Well, according to one recent study, 86 percent of executives and employees blame lack of collaboration and/or ineffective communication for workplace failures. The reason collaboration is so impactful is because it facilitates knowledge sharing, which leads to innovation. In a highly saturated field like property management, this innovation can help position your company ahead of the competition.
Being an effective leader isn’t always something that comes naturally. In many cases, it requires hard work and the willingness to learn, adapt and evolve. The goal is to identify the property management leadership style that best suits yourself as well as your team, and this process may take a little bit of trial and error – especially if you are new to your role.