So you want to start your own property management company? Well, truth be told, property management can be a tough business to crack. But having been a successful property manager yourself, the last thing you want is to let the rough seas get in your way.
So in this blog, we are going to share with you proven tips to develop a successful roperty management team.
1.Hire the right people.
The people you surround yourself with can directly impact your success. So, take the ime to carefully consider who you are going to have in your team.
So, how do you find the right people for the job? It’s quite simple. You need to ensure our interview process is as rigorous as it can be.
Before the main interview, plan for a mini one to help you narrow down your pool. You can conduct the mini-interview via a phone call or face-to-face. Have a set of questions prepared. Examples of questions you can ask are:
- Have you ever worked for a property management company before?
- What kind of challenges did you face at your former work? Were you able to overcome them? If so, how?
- What company culture would you thrive in?
- What is the biggest contribution have you ever made for a past employer? Did it lead to saved money, improved working conditions, or better customer relations?
- How do you picture yourself 5 years from now?
The way they answer these questions can give you an idea of what to expect if you hire them.
2.Make your expectations known.
Once you have successfully recruited your team, let them know what you expect from them.
Failing to make your expectations known from the beginning is a recipe for disaster. In fact, did you know that about 40% of new hires leave their jobs within 6 months? This is all because of a misunderstanding between employers and new hires of what needs to be done.
Below are some power moves you could try to implement in this regard.
- Communicate (clearly and often) about job expectations
- Make new hire retention a hiring KPI
- Make a 90-day plan
- Provide a great onboarding experience
- Present your company culture transparently
- Design pre-hiring that sets the right candidate expectations
3.Provide your team with adequate training.
Your team will only thrive if you provide them with all the necessary skills they need to ucceed. This will help get rid of issues like less-than-productive workforce and a high turnover rate.
Whether from an outside party to an internal one, just make sure you provide your team with ample skills.
What’s more, make yourself available to them. Make them know that they can always ount on your support if and when necessary.
4.Provide a conducive environment.
A conducive working environment boosts employee productivity, no doubt. A cluttered pace, on the other hand, means just the opposite. In fact, research found that a cluttered working environment restricts the brain’s ability to focus and process information.
So, get rid of any clutter. Make sure all your files are neatly organized. Ensure your mergency preparedness plan and employee handbook is up-to-date.
Doing this will motivate your employees, and consequently, this may boost their productivity.
5.Meet regularly and organize team-building activities.
Great companies regularly organize company retreat or team building activities as part of our staff engagement program. The following are some team building activities to get you started.
- Book Clubs: Have interested employees select a book, read portions of it each eek, then meet to discuss. This is a low-cost option that won’t take up most of the day.
- Game Night: This is a fun way to build relationships with team members. Some fun games include Machi Koro, Taboo, Codenames, and Apples to Apples.
- Chili Cook-Off: Nothing brings people together than a hot plate of food. Have some employees bring their own food and have others vote anonymously on which one they enjoyed the most.
- Creative Happy Hours: Sometimes, moving off-site can help provide a more relaxing environment and provide a clear separation from work.
6.Provide regular feedback.
Don’t let your workers second guess whether they are doing their work properly. It can be incredibly frustrating. Providing them with regular feedback can help make sure everyone is on the same page.
You also want to ensure that any feedback you give is sincere and genuine. Also, identify what exactly they do well and congratulate them, but also point out any areas that they should work on.
There you have it. Six things you can do to develop your workforce into a highly effective, collaborative team that produces great results. There is only so much that you can do as a person. To move to the next level, you need to develop a successful property management team.