One of the biggest mistakes companies make is overlooking the importance of human resources – and those in the property management business are no exception. You can’t operate a successful organization unless you have the right people and without an HR manager, you can’t get those good people through the door. By filling this role, you’ll end up with a seasoned leader who can turn your human capital into a source of sustainable competitive advantage.
As a property management business leader, you are constantly negotiating, whether it’s with new hires and existing employees, vendors and suppliers, or prospects and long-term clients. Unfortunately for some, negotiating doesn’t come naturally and for others it’s particularly difficult to master. The good news is, it’s something you can learn and develop – provided you focus on the following five key things.
Recent stats indicate that 77% of the US population owns smartphones. Like it or not, the vast majority of your customers are living a mobile lifestyle. As such, property managers must leverage mobile-friendly techniques in order to meet their audience where they are and serve them as they prefer. The good news is, adopting a mobile-first strategy isn’t as difficult as you may think. Let’s take a look.
Just because you’re passionate about your property management company and care about your team doesn’t mean you’re leading them in the best possible way. Many well-meaning leaders exhibit toxic management behaviors without even realizing it.
Property managers that handle community associations (HOAs, COAs and Co-ops) often end up feeling as if they’re nothing more than the middleman. For example, owners may come to you to report certain maintenance issues, which you must then turn around and report to the board. The board may then advise you to contact maintenance workers and arrange for their services. Upon resolution, it’s up to you yet again to communicate that plan back to the owners.
It’s a common misconception that salary is at the root of employee satisfaction. Naturally, many managers believe that the more money they offer to a worker, the happier and more loyal they’ll become. In reality, it’s typically things like work environment, peers, culture and leadership that drive satisfaction. If you’re looking for ways to improve morale within your property management company, here are five non-monetary things you can do.
Using email is a no-brainer for most property management C-Suite executives. Problems come into play, however, when it comes to wording those emails so that they deliver the right message in the right tone and effectively get the point across.
As a property manager, maintenance requests are part of daily life. Even the best-kept property will inevitably require some type of attention from time to time, whether it’s a routine service call or an unexpected repair. Having a plan in advance for how you will handle these requests can minimize stress, move things along more efficiently and ensure that your tenants stay happy and loyal. If you haven’t yet done so, here’s a simple strategy to make the property maintenance process a breeze.
Growing your property management business successfully involves strategic scaling. Try to adapt too quickly and you could end up back where you started, or worse. Evolve too cautiously and you could easily miss out on the opportunities that are ahead of you. So, what’s the secret? How can you scale your property management company in a way that is well-timed and profitable? Here are a few steps to help get you on the right track.
Ever wonder why Apple is so successful? How they continue to outpace themselves in sales, quarter after quarter, year after year? It’s not just that they’re producing great products, though they are. The real reason behind Apple’s continuing success is the relationship the company has built with its fiercely loyal customer base. It’s why people line up and wait for days to get the latest product release, or why they swear they’ll never own another brand of computer or smartphone. This same approach to customer retention can be leveraged for your property management company as well. Here’s how.