June 23rd, 2021
How to prevent burnout as a Property Manager
Property Management
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Is employee morale a top priority in your company?
Multiple studies have found that positive work cultures are significantly more productive than negative, high-stress environments. However, a positive work environment doesn’t just happen.
To ensure high morale and a positive culture, it’s important to have several strategies in place. We’ve put together 6 strategies to keep your property management team motivated and performing at their best.
1. Balance the portfolio equitably
Ensure the portfolio is fairly distributed. Some properties seemingly forever have problems. Perennial repairs, difficult tenants or even difficult owners. You’ll know which ones they are, so don’t leave all of the troublesome ones with one Property Manager. Balance the allocation of relatively straightforward properties under management with one or two of those which tend to cause the most headaches.
By properly distributing properties amongst your team, you’ll help your Managers enjoy a better work-life balance, leading to less burn-out.
2. Fuel motivation with feedback
Regular feedback can be a powerful motivator.
Often employees can get lost in a sea of work, unsure of whether what they are doing is valued or not. By regularly providing your team with positive feedback, you can let them know they’re on the right track. This will give your team the sense that their work is important and appreciated.
One practical way to implement this is to have a weekly announcement where you acknowledge the great work a team member has done that week. It’s great to also lead by example and encourage a culture where everyone uplifts each other. This can in turn lead to greater motivation and less turnover.
3. Utilise technology to streamline tasks
Maximise the use of affordable yet powerful software and AI technology to take away some of the more mundane tasks of the Property Manager. By utilising a great software solution, Managers will be able to focus more on the more rewarding and less mundane aspects of the jobs, such as liaising with owners.
Repetitive tasks can be assigned to AI, leaving your team with more time while taking away their perennial stress of having too much work to do in too short a time.
4. Work hard on office relationships
Use your personnel skills to develop a close-knit team where people look out for each other. Especially in larger organisations, there’s a lot of talk around having an “open-door policy” where anyone can go and talk to the boss.
Yet, regular all-inclusive meetings can work wonders. So, hold regular meetings with all Property Managers to address problems and potential solutions, elicit new ideas and make everyone feel part of the team.
Of course, you’re always going to have people who treat work as “just a job” but if you can work to instil a sense of pride and belonging into your group, with suitable rewards for those who do well, then morale will stay high.
5. Build clear career paths
Make sure you let your team know they individually have career growth prospects. Apart from salary levels, major reasons for leaving a Property Manager’s post involve lack of prospects and overwork. Everyone wants to be appreciated and rewarded for their efforts and what better way than getting a promotion, a higher salary and growing with an organisation?
