You Can’t Buy Experience, The Value of Long Term Teams
Possibly the most valuable asset in property management is experience.
Properties with tenured, long time staffs benefit from:
- development of annual systems.
- they have noticed, realized and anticipate occupancy trends.
- they create and build relationships with residents, which improves resident communication, rent collection and resident retention.
- Preventive maintenance is incorporated into the monthly schedule without fail.
A staff with experience is an unspoken endorsement for a future resident. “I like working here, you’ll like living here.” This information should be included in the introduction of team members to new residents.
These individuals, three, five, nine, ten, fifteen and even twenty bring immeasurable experience, wisdom and common sense to the workplace with them every day.
Internally, we acknowledge:
Rebecca has developed a fantastic system for this process. The organization would be lost without her.
A question develops regarding a capital improvement or a unique repair, ask Bob, he’ll know the answer, find it for you or point you in the right direction.
A new initiative to roll out, Abby will be the team leader for that. She’s overseen all of our transitions.
That property has been stuck in an occupancy rut for a couple of weeks, have Carl take a look at the operations, he’ll be able to identify what’s missing.
Management teams are surrounded by this wealth of experience. It’s often a questioon asked by potential employees during an interview, “How long have you worked here?” Looking for a vote of confidence that the interviewer is happy and satisfied with their employer.
The total impact of this experience is sometimes overlooked. Team members are recognized on their anniversary dates. Buat the long term employees add value every day.
Consider an advertisement for a property
32 years of property management experience makes the difference at Happy Acres Apartments.
Listed below are team members names with years of experience:
Pam 12 Years
Billy 8 Years
Beth 7 Years
Kim 5 Years
A Total Of 32 Years Experience!
Recognition of this commitment and loyalty to an organizatin has huge value to the individuals that are recognized as well as prospective residents.
It will provide additional information for residents who are recommending the property to friends and family. Reinforcing and supporting a residents postive opinion of the property. Its creating a brand awareness in the community. Its a tremendous marketing tool, while acknowledging the team members that contribute to making the operations at a property successful.
|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.