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Effective Management Principles for Multifamily Property Management

Effective Management Principles for Multifamily Property Management

Determining a career path in the property management industry can be a challenge.  We start in one position.  We wind up doing really well at it and then it comes time for a possible promotion.  With a promotion, may also bring the necessity to demonstrate leadership qualities in one way or another.  The typical problem that pops us is that many professionals are not fully prepared for the roles they are being asked to take on.  Do we really know how to manage people?  Do we understand how to handle group dynamics?  Do we have the ability to make decisions we can stick by through thick and thin.  As we move through our career path it is so important to analyze ourselves and see what kind of leadership and management styles we have currently and ones that we can be developing.  Below are some examples.  

The Visionary

The visionary shares their goals with the group and team. They give clear direction of where to go but don't necessarily give directions on how to get there. They share information and impart their knowledge and experience onto others. The Visionary Leadership style can create a company culture that facilitates directional changes. Evaluate your team and determine if a visionary style would motivate them to think and work more independently.  Not everyone may be able to work independently.  Balance is needed when using this approach.  The visionary is focused on helping the group to reach a proper conclusion.

The Coach

Are you a coach, do you mentor and guide your staff along the way? Do you have their trust and admiration? A coach typically inspires respect via their track record.  Did you ever play sports? Think of your work team like a sports team and you are the coach. Give good direction, motivate and moderate results. This sort of leadership style is great for creating a cohesive team.  The coach is not afraid of trying things new and is eager to share a new approach or “play” with the team and motivate them to get on board.

The Affiliative

An Affiliate leader promotes harmonious relationships within an organization.  This can be challenging if your team is to focused on the pecking order.  They use a collaborative style and focus on the emotional need of those around them.  This means that you are taking time to get to know your team members beyond just their job description and requirements.

The Democratic Leader

The Democratic Leader makes an effort to listen to the opinions of others. They seek out advice and discuss the issues among the group. Although listening and taking advice is good, it is important to avoid long decision making time-lines. You could appear weak to your team.  This means you need to outline a clear follow through plan and timeline that the team can adhere to once a decision is made.

The Pace-setter

The Pace setter sets measured goals for the team. They have high expectations and are quick to identify poor performers and demand more of them. They often expect that the team member should already know how to perform the job so they tend to provide little direction and training to the team. This can create a very poor working environment if not executed properly.  The worse thing a team should feel is frustration.  Your goal is always to instill positive energy.  Negativity will only slow production.

The Commander

The Commander is in charge. They give clear directions and expect compliance. This style works well when firm quick decisions need to be made.  This is where some major balance is needed.  A commander can quickly find himself overwhelmed with responsibility because other forms of leadership have not balanced out the times when quick decisions are made.

Many companies may have a mentoring program in place to help you develop various leadership and management attributes.  Others may not, however with a modest approach and analyzing who we are, we can look in the mirror and sort out what kind or person we are.  The next challenge is application of the principles you have learned.  

Please feel free to contribute to this topic.  If you have any thoughts on these different management approaches feel free to comment below.  

Written by Jonathan Saar--The Training Factor

 

 

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