Oh, the Places You’ll Go!
This title from a Dr. Seuss favorite is the best description for a response to an inquiry about opportunities for challenges and advancement in Property Management. A career in property management is different than many occupations.
Success is measured by results.
Special emphasis needs to be offered to individuals newly hired into the industry. Unlike many employment opportunities; attendance, a good attitude and completing any task that is asked or assigned is not enough.
Results! Securing a lease, executing a renewal, striving for resident satisfaction are the components that establish a foundation for a strong successful team member.
-Understanding the sense of urgency; every prospect has the potential of being a future resident; committed to asking for the sale, every call and repeatedly -the loss of revenue every day that an apartment sits vacant, multiple vacancies magnify and multiply the financial loss.
A self-motivated individual will have the drive and initiative to “follow up” with prospects. This individual understands the importance of developing a relationship with a prospect. Not satisfied with leaving a voice mail, text message or an email until the response is received. Successful follow-up is a sale or a lease; not a check box on a guest card to say the task is complete.
Property Management is an industry where hard work and dedication are easily identified, again by RESULTS. Strong consistent closing ratios, exceptional occupancy, growing revenue and limited concerns for unpaid rent or bad debt loss characterize attributes highly valued in property management.
Most Property Management Companies strive to promote from within; emphasizing the growth and career opportunities. An individual familiar with specific policies and procedures builds on the knowledge base and the day to day experiences. Experience in property management can be applied to organizations in every state in America, as well as foreign countries. Providing homes satisfies a universal need; shelter. Successful individuals in this industry appreciate the emotional impact of the decision each prospect is confronting. Choosing a home for their family.
Property Management is not a “business hours only” occupation. Emergencies occur when families are at home, nights and weekends. Residents realize a problem exist when they return home at the end of the day. Property Management is a customer service industry. People can’t take a day off to look for apartments. They tour properties on their lunch hour, on the weekend, or at the end of a day. Being available when needed requires individuals with a mindset to serve prospects and residents. It’s no surprise the office phone rings more often from 11:30 til 2 p.m. and increases again at the end of the day.
Successful members of the property management industry take ownership at their property. Regardless of the location of their personal residence, each repair is evaluated as if the funds for the expense are their own. Preparation for an apartment turns as if it would be a home for them, or a member of their family. Acceptance of the repair carries a similar burden;-sloppy careless workmanship is not acceptable. Curb Appeal care is scheduled based on the property’s physical appearance, not simply by the items on the schedule.
For the newly hired that ask about future opportunities; there’s no limit! Regional Managers and Chief Operating Officers started their careers as onsite managers. Attendance at Apartment Association events includes hundreds if not thousands from the property management industry. I’m proud of my thirty plus years in this industry.
|Lori Hammond | Company Website | LinkedIn Connect |
Lori has 30+ years’ experience in the Property Management Industry, working with both market rate and affordable housing. Lori has been privileged to work with some tremendous industry leaders during employment tenures with Oxford Management, NHP Management, AIMCO, Alliance Residential, Boston Capital, The Sterling Group, P.K. Housing and currently Management Resources Development.