Here’s a question we hear quite a lot and it is a little scary to think that it seems to be plaguing our industry. There’s plenty of reasons why property managers have a lot of disappointment directed at them and for the most part a lot can be understood if you knew a day in a life.
So, let’s begin with the perception of incompetence and why some of the directed anger is not warranted. From the start of the day until the end and beyond, property managers have got their hands filled with negativity. This is broken, that doesn’t work, where’s my money, I locked my keys in the house, etc… I think you get the message. All day, these firefighters go and put out as many fires as they can and in between all that, get through the mountains of administrational work, do the accounting and still somewhere in between… breathe. With all this in mind, they have a heavy reliance on third parties to do repairs and so on, so a large portion of their job they are not even in total control.
Now, for one of these super humans to deal with the daily barrage of requests and still stay on top of everything else that is necessary, they need to be up to date with every aspect of the property management game, from law to client interaction. They need to be continuously trained and also need the right support around them to be able to work at an optimal level.
So, here’s where it all stems from. The owners of the business. Property management is generally the heart of any real estate business. It’s the reason why the doors remain open and the only thing that is worth anything in the business. Yet it seems to be ok to have all energy and attention on sales, because that’s all, puff your chest out recognition. This ends up leading to multiple problems in their property management department. Firstly, people who are not the right fit for the position are hired just to fill a void. Employees receive minimal training or sometimes none at all and the worst is, due to greed, a property manager is given a portfolio of properties that is far too large to be handled by one person. Put all this together and you’re leading toward a disaster.
Incompetence is generally due to the lack of interest taken by the owner to give their property management department the attention it absolutely deserves. It rarely is the property manager that is incompetent, they are generally just doing what they can with a shitty situation.