How are property managers dealing with the current real estate market and economy? How are YOU dealing with it. I'm interested in hearing best practices (and worst practices) and getting your advice on tips & tricks.
I recently interviewed 50 successful property managers throughout the U.S. and many of them indicated this is by far their biggest challenge right now.
Some tried to stay very positive, saying that as the economy turns around there will be plenty of new opportunities for growth and advancement. And some suggested that some of these changes in the industry are also creating opportunities for new property managers to offer new, creative, and innovative service offerings.
Tracey Logan of Holland Residential said: "When the economy is really tough, it’s an opportunity to learn the most, to evaluate what you’re doing, reflect on what was successful and what was not, and apply the lessons learned. Business runs in cycles, so it’s important to define a solid business strategy that will take you through each cycle and will enable you to have the most impact now."
What advice do you have?
