Property management can be a very rewarding and profitable career. It can also be chaotic. Between fielding phone calls and responding to emails, processing applications, scheduling maintenance, following up with clients and the million other things you’ve got on your plate, chances are you’re feeling exhausted by the end of each day. Over time, this can lead to dissatisfaction and unhappiness, which can spill over to your clients and colleagues.
In theory, things like facts and logic may seem like enough to manage others in the workplace. The reality is, people are most often led by their emotions. For that reason, it’s important that those in leadership positions within your property management company develop and nurture skills for guiding and influencing rather than just directing.
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.
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.
Like it or not, the world of work is changing. The property management office of tomorrow will be vastly different than what we know today. To prepare for these impending changes, companies of every size and industry must take the appropriate steps now to future-proof their businesses so that when the time comes, adaptability will be easier and less disruptive. That being said, here are five ways you can help keep your company ahead of the wave.
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.
In order to achieve sustainable success in your property management company, it’s crucial that you hire individuals who are not only qualified but are also closely aligned with your organizational culture. Many business leaders fail in this area simply because they focus primarily on hard skills and forget about the critical soft skills that they’re truly looking for. And these skills aren’t just applicable in property management. They’re things many hiring managers in every industry are starting to actively seek.
One of the fundamental components of strong leadership is a deep-seeded understanding that leaders lead people, not tasks or projects. And while financial performance is, of course, an important part of your property management company’s longevity, it’s the employees that actually drive success. It makes perfect sense, then, that people should be the primary focus of your leadership approach. When leaders help others, everybody wins.