Company Blog

Just for Property Managers

By Amber

Once you find a great property manager, you’ll want to do what you can to hold on to him or her. A combination of factors can keep your manager happy. Be sure to do your part to provide elements that make the job rewarding and show how much you value the work your property manager does for you.

Hire compatible people
Retaining a great property manager starts before he or she has even been hired. While you’re interviewing for your ideal manager, look for an individual whose temperament and goals are aligned with your own company’s culture and approach.  With a good fit, you’ll have the best possibility of holding onto the people you value.

Pay competitively
In the world of good help, you often do get only what you pay for. Attract good candidates and hold on to them as hires by paying a wage that shows you respect their experience and expertise and are willing to pay for it. Salary isn’t the only thing that keeps good people in their jobs, but it is a deal-breaker for many during the interview process.

Offer opportunities
One of the best ways to retain a good manager is to offer him or her opportunities to learn, grow and get better at what they do. Whether you pay for training classes in specific software, management classes, or a stress-relief seminar, show your manager that you care about his or her personal and professional well-being by providing ways to improve it.

Communicate regularly
Changes happen in personal and professional lives that none of us can predict. Check in with your property manager during regularly-scheduled meetings to make sure that the job is still what they hoped for. Be sure to encourage your property manager to share ideas and initiatives and show that you value their input.

Use an incentive program
Employee incentive programs can be a great way to motivate and reward great employees for outstanding performance. First, clearly define the goals of the program, such as 100% occupancy for your rental properties. Then set a time frame within which to measure the goals. Finally, make sure your awards are truly valuable, such as a generous bonus. Give status updates at regular intervals to keep the program top-of-mind.

If you’re lucky enough to find the perfect property manager, you should already know how you plan to make them happy. Keep them constructively challenged, supported and compensated and you’ll greatly increase the odds of holding onto a great manager for years to come.

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