Possibly the most valuable asset in property management is employee experience.
Properties with tenured, long time employees 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 experienced team is an unspoken endorsement for a future resident. “I like working here, I’ve been here for three years.” Including this information in the introduction of team members to new residents, creates a sense of stability.
These individuals, three, five, nine, ten, fifteen and even twenty years of seniority, bring immeasurable experience, wisdom and common sense to the workplace with them every day.
A new manager, or newly promoted can offset any short term insecurities, by acknowledging “I’ve been in my role as a manager for a couple of months but I’m surrounded by 18 years of property management experience.
Internally, we acknowledge our team members as our best practice experts.
- 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 question 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. But 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.
Recognition of this commitment and loyalty to an organization 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.
How many years of experience at your community? Share your team experience in the comments below!