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Removing Barriers and Increasing Collaboration to Foster Employee Growth

It has always been important to me to have defined pathways for our people to seek out growth opportunities that would still allow them to stay within the NTS family and within my portfolio.  In having that become a reality, some of the old rules had to be thrown away, barriers removed, and a greater collaborative effort invoked at all levels.   Each time a new player is introduced to the portfolio or is promoted to a new position, the dynamic changes.  There is a window of time (approximately 90 days) where that new player is still in the mindset of a “consumer”.  As a consumer, he or she learns their new role, new skills, expectations, where they fit into the team and what they bring to the table from a contribution standpoint.  This is where ALL of the best feedback comes from!  It is the ‘open minded’ period before someone has looked behind the curtain and seen the Wizard, so to speak.   In being willing to modify training and job tasks associated with any one position, we open the door to fluidity between levels of skills in any position.  For example, a new leasing associate who is also a fast learner and a good multi-tasker may soon learn how to post rental payments (typically the task of the Assistant Property Manager).  This allows them to contribute to the team at another level, feel trusted and invested in by management, and become goal oriented toward their next training initiatives.   I encou......
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How to Empower and Keep Good Employees

How to Empower and Keep Good Employees
In the crazy world of property management many of us struggle with keeping and empowering our team members. Throughout my years in property management I been asked how I am able to keep long term employees. After sitting down with team members and really looking into myself I have come up with eight key factors that many of us have either overlooked or simply forgotten about.   Think Positive Everyone should understand the power of positive psychology, look at every situation as a learning opportunity. Your outlook in business and life is shaped by your thought process playing a heavy hand in the way you approach every situation. Negative thoughts breed a pessimistic attitude influencing not only your behavior but also that your team. Everything starts with you, think positive! Often this can be accomplished by shaping your thoughts with your personal “self talk”.  These are those endless thoughts, words and phrases that you say to yourself throughout the day. These come from applying logic and reason, while others come from your bias, perceptions, judgments, and interpretations of information or sometimes more importantly the lack of information. Positive thinking will lead to optimism for yourself and in turn your team.   Honesty, Transparency and Trust Being honest and transparent with employees is essential to building trust. When your team trusts you, they will go the extra mile for you and the company. At times it can be uncomfortable communicating with your team, be honest and as transparent as possible. Transparency can be ......
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Building an Employee Roadmap for Developing Future Talent

I recently had some in-depth conversations with multifamily leaders on the subject of building a company's "Bench Strength" of future superstars ready to take the reigns, leading up to Rommel Anacan's webinar on "Leaders Building Leaders" (which I highly recommend).  I asked Stacey Pichette, Property and Operations Executive at Enclave Properties, about career roadmaps and grooming future leaders.  Here is her response: Many larger property management companies do have a set road map for career progression. This will start with becoming a successful leasing agent as we all know that leasing is one of the most important tasks that we do. I personally believe that all team members participate in the leasing process. After an employee has shown a strength for leasing and customer service, typically 1-3 years depending on the employee, we would begin teaching them about financials. Specifically, working within the set budget and learning more about the "bottom line" or return on investment. After an employee understands the financials, and is able to maintain their leasing expertise, a job sharing experience should be introduced. Many office workers have no idea what it is like to be a groundskeeper, maintenance technician, or property manager. Spending one on one time with other team members generally brings the whole picture together. When spending time with the property manager, I would emphasize the importance of interacting with the property owners because if the owner isn't happy, no one is happy. In my experience, the easiest way to make and keep an owner happy is......
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Build Longevity in Multifamily

To those peering in from the outside, the apartment industry might appear fairly straightforward with a short list of potential career opportunities. Essentially, your only options are leasing agent or community manager, right?   In an effort to recruit fresh talent and retain high-performing associates, the industry has worked diligently to erase that misnomer. The multifamily industry is actually a diverse field with a wide range of employment options and growth opportunities, ranging from the aforementioned onsite associates, operations, maintenance, IT, marketing and beyond.   As the industry aims to incorporate and retain talent, part of the challenge for apartment operators is to communicate the merits of multifamily to prospective newcomers. Another is to genuinely demonstrate the attributes of the industry and provide a clear path for growth to new associates. Not everyone realizes the multifamily industry is able to provide true careers. Here are a few ways to ensure that you are providing new team members with the tools for success and increasing your chances that they will remain with your organization.   Provide proper training There is nothing more intimidating to a new associate than being thrown into the fray without clearly defined duties and without much background on how to perform those duties. On the flipside, no one wants to feel too coddled. Strike the balance that will give new team members the resources to succeed and enough knowledge for them to apply what they learn to new ideas or initiatives. Whenever you implement a new software sy......
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6 Ways to Empower Women in Real Estate

Happy International Women's Day!

Let's all pull on our sparkly Michelle Obama boots and get in formation. Because even though there have been many strides to empower women in real estate, there is always more work to be done. (According to a 2015 report from CREW, only 9 percent of commercial real estate C-suite positions are held by women.) What can we as an industry do? Here are some suggestions.

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The Top 10 Reasons a Leasing Professional Quits

A few weeks ago Suzanne Hopson asked a great question on the Multifamily ShareSpace - What do you think the top reasons are that leasing professionals quit? 

There were so many great responses that I decided to showcase my personal top 10 favorite comments for why leasing consultants walk out the door.  Enjoy, and feel free to add any additional in the comments!

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Are you being paid better or worse than your peers? View the Apartment Salaries Research Report to find out.

Are you being paid better or worse than your peers? View the Apartment Salaries Research Report to find out.

We just released our 2019 Apartment Salaries Research Report, where we surveyed 894 multifamily professionals from leasing consultants to upper level executives to identify salary trends in the multifamily industry.  We do offer this research report for free to the community; HOWEVER, we have one request:  Before you download, please click to share this post, as this will help us tackle more research projects in the future.

Link to download:  https://www.multifamilyinsiders.com/apartment-forms/file/368-2019-multifamily-salaries-research-report

If you would like access to more multifamily research studies and industry conversations, please follow us on LinkedIn:  https://www.linkedin.com/company/multifamily-insiders/

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How to Maximize the Space of Your Rental Property

image4.jpgMany landlords and other property owners try all sorts of methods to increase the value of their property. It’s always advisable to do so as you can receive some excellent returns for minimal effort. The same goes for the space in your property. There are many methods that you can use, many of which amount to fairly simple tricks that are always effective for renters. Let’s take a good look at the best of them to enable you to maximize the amount of space your property has and thus increase your earnings Hanging Things on the Wall One of the main ways renters and others use to maximize the space of their property is to hang anything they can on the walls to free up the floor space. The thing about this idea is that it’s quite easy to do and yet it’s so effective. Many things can be mounted – from smaller worktops to lights, nightstands, and much more. That way you won’t only effectively maximize space, but you’ll also make the property appear much bigger. Less Space for Beds Beds are an essential aspect of every rental, but they also might clog areas. The bigger beds are more attractive to your potential tenants, but there will be less space for other furniture. Keep the size in proper comparison to the room space, so it doesn’t hamper the flow of the area. You require a massive area for a king-sized bed. The solutions here are several: Murphy beds – many of which are ......
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Tattoo Stigma in Multifamily

Tattoo Stigma in Multifamily
We’ve all heard the banter between folks when discussing their tattoos. I can’t tell you how many times I’ve heard or said, “I was young and dumb” in reference to tattoos. I sometimes feel this way about mine, as they’re quite visible on my hands and arms. I had them done during my stint as a world traveler, not thinking I’d find myself in the corporate world, wearing long sleeves and rings to cover my teenage rebellion’s lasting mistakes. I’ve been lucky enough to develop business relationships without my tattoos acting as a barrier, however this isn’t the case for some. We all know that millennials are changing the game by promoting a more casual approach to work and with their take-over of nearly 40% of the job force, I foresee big changes in corporate standards. Considering that 40% of millennials carry body art, it’s hard to imagine that this 40% would also carry with them an employment disadvantage, right? A friend of mine thinks differently. She argues that visible tattoos are unprofessional and that their stigma will last much longer than my hopeful fantasy suggests. Recently, we toured a downtown Las Vegas community, where our leasing consultant was heavily tattooed. She was dressed casually and had facial piercings. I connected with her and admired her artwork and style, but my friend resented her choice of dress and visible tattoos and our consultant had “lost all credibility” as far as she was concerned. This incident showed the difference in our perception of what’s acceptable in t......
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Implementing Behavioral Assessments - What Will It Do For Your Company?

Implementing Behavioral Assessments - What Will It Do For Your Company?
Say no to interview intuition and use behavioral science to make an objective call.  Once upon a time, I was hired as a recruiter for a high-end employment agency. It was a positive experience and I did well in my position. I had a strong team of coworkers, so I was surprised to learn that they had implemented a personality test for new hires at our company. I was immediately curious and asked if I could take the test. Afterward, I was told I had “failed”. My manager laughed when I asked, “Failed what? Are you telling me I have no personality?”   She had no answers for me and simply said to stop worrying about it.  What was the meaning of this silly test? Turns out it wasn’t the job for me. I’m easily bored and need exciting experiences to keep my attention. Hunting for CFO’s and accountants wasn’t engaging for me unless I was able to steal them from another company and make a lot of money doing it. Yet, even that high was short-lived for someone who thrives under stress and excitement. This is probably why I love the always adventurous property management industry and find myself working in it now.  Over the years, we can perform jobs that are either perfectly suited for us or leave us wanting more and lacking in productivity as we become stale. The assessment I took back then could have given me the tools I needed to find my perfect position faster, and my employers th......
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