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If you’re feeling burnt out it can be difficult to know what to do or the appropriate steps to take to manage the overwhelming and stressful situations. Employees don’t always share these feelings and in most cases, employers will only find out when that resignation letter hits their desks first thing in the morning.
There is a lot to love about Property Management, no two days are the same, getting to be out and about of the office and the fast paced nature that comes with the role are attributes that draw a lot of people to the job in the first place. However, in the recent years and especially across 2020 we have seen an increase in overwhelming job demands, inadequate training and lack of support across the Property Management sector and with the impact of COVID Property Managers are getting hit hard.
Property Management burn out is real and it takes a toll on your business and what we’ve learnt is that recognising and rewarding employees, implementing the right technology, and offering support and training is the best course of action against burnout.
Streamlining Process’
Implementing step by step procedures, and templating letters, forms and emails are small steps but can make a big impact and save a lot of time in the long run. If your Property Management inbox is flooded with similar questions and concerns, then setting up a Frequently Asked Questions template will also come in handy and give you the ability to answer any future questions or concerns people may have. Streamline job responsibilities e.g. have your Property Officer manage all tenant enquiries and Property Manager manage all landlord enquiries. This will reduce stress and bring confidence to the team when everyone knows their role.
Have a plan
If you have upcoming staff holidays or staff on extended sick leave what is your plan for their workload? With Property Management there are all sorts of scenarios that can happen when the portfolio is neglected so it’s best to sit down beforehand and map out a plan should these situations occur. This is where temp staff come in handy as they’re trained to step right into a business and pick up from where things left of. If you’re worried about introducing another staff member to your tenants & landlords, then have your perm staff do all the correspondence and the temp can be in the background. It will put your Property Managers minds at ease knowing they have additional support to help whilst you are down permanent staff.
Speak up & take action
Don’t be afraid to share ideas and insights to better improve your role and working conditions. You are the one doing the job day in day out so the best ideas will ultimately come from you, if you are the business owner then take a look at what is and isn’t working in your team. Listen to your staff in what they need to help your business achieve its goals, what is profitable and what isn’t, consider some of the reasons staff may have left the business in the past- are these reasons within your control that can be changed?
A lot of people underestimate the value in a rent roll, the bigger the portfolio the bigger the income- major bonus being it is a guaranteed monthly income for the business. Ultimately if an agency can build a big enough portfolio, they could have a very big asset on their hands. As a business owner you’d invest a lot of time, money, resources, and energy on acquiring this, so why not apply the same approach to your staff who will essentially be managing this asset?