Do You Really Know What's Going On in Your Property Management Department?

As an agency principal, it's easy to assume that everything is running smoothly in your property management department. After all, you’ve hired capable staff, set up processes, and have a solid rent roll in place. But how well do you really know what's happening behind the scenes? Are you confident your team feels supported, engaged, and aligned with the landlords they serve? Most business owners only scratch the surface when it comes to understanding the inner workings of their property management department.

Beyond Surface-Level Conversations

You might think you're on top of things because you ask your team how they're doing. "How are you finding the job?" or "Is everything okay?" are common questions principals ask. But these are just surface-level conversations that don't get to the heart of what truly matters. These casual check-ins often miss the mark when it comes to knowing the deeper issues your team might be facing.

Property management is more than just juggling a portfolio of properties; it’s about managing stress, workload, and relationships. But when was the last time you dug deeper to understand what really stresses your team? Have you considered whether your team members are a good fit for the types of landlords they manage? Matching the right property manager to the right landlord isn’t just a nice-to-have; it’s important for a harmonious and efficient working environment.

Quality Over Quantity: Rethinking Your Metrics

There's a tendency in the industry to measure success by the number of properties a property manager handles. Whether it's 100, 200, or even 300 properties, this metric often takes centre stage. But I challenge this mindset; quantity isn't the best indicator of a successful property management department. 

This approach means focusing not just on workload but also on ensuring that your property managers are aligned with the landlords they serve. By matching landlords and property managers based on personality, communication styles, and work preferences, you create a more cohesive and productive environment. This alignment doesn't just reduce stress; it can also lead to better client relationships and improved retention rates for both landlords and staff.

The Importance of Personality Matching

Traditionally, property management portfolios are grouped by geographical area or simply by the number of properties. But I advocate for a different approach. I believe in matching property managers with landlords they’ll get along with based on their personalities. This strategy may sound simple, but it’s incredibly effective.

You don’t need to put every landlord through a personality test, but you should understand the strengths and weaknesses of your team. I recommend tools like Julie Davis’s performance profiling, which helps identify the unique strengths of each team member. 

Through meticulous analysis, as Julie Davis says, “[profiling] provides a window into how a person innately navigates the world – from their preferred mode of communication to their unique contributions within diverse contexts.”

Addressing Mismatches and Conflicts

Of course, even with the best intentions, mismatches can happen. It’s vital to have a system in place to address conflicts when they arise. Whether it's a property manager struggling with a difficult landlord or a landlord unhappy with their current manager, these issues need to be identified and resolved quickly.

Do you have a management team capable of recognising and addressing these conflicts? If not, it's something you, as the business owner, should be closely monitoring. Proactive management is key to ensuring your property management department runs smoothly and that both your staff and clients are satisfied.

Final Thoughts

Truly understanding what's going on in your property management department goes beyond metrics and surface-level conversations. It's about creating a working environment where property managers are matched with landlords who suit their communication style and personality. This approach not only reduces stress but also fosters stronger, more productive relationships. So, take a moment to reflect—do you really know what’s going on in your property management department?

Let me know your thoughts.