In all my years working in the property management industry, I’ve only ever gone to one retirement party! Only one!
What’s happened to everyone else?
Regretfully the biggest reason why property managers leave the industry is burnout. They simply just don’t want to continue in the profession. Why is this?
There are many reasons for burnout. It’s sometimes a combination of factors that cause it. These reasons were collected largely from a recent Facebook post, and a big thank you to everyone who participated.
#1- Lack of management support, care, and understanding
When property management is treated second best to sales it makes a difficult job even harder. If a principal won’t support or back up their property managers in times of need, particularly when it comes to sacking a bad client, resourcing the department, or in other ways to show they support and care, the property manager will be headed out the door.
#2- Too many properties
Loading far too many properties onto a property manager is a guaranteed way to speed up a resignation. How many properties should a PM manage, I hear you say? These three indicators are great to keep in mind. Happy clients, happy profit margin (happy boss), and happy property managers. Get all three right, you’ve got your portfolio workload and property numbers correct!
#3- On-call after-hours
Asking the property manager, who already works hard enough during the day (usually with long hours), to then take calls after-hours for emergency repairs, is a big ask! This factor really adds to burnout. Making sure you have a service after-hours where tenants can call tradespeople direct allows the property manager to switch off, recharge, and come back the next day refreshed and ready.
#4- Being ‘too available’
When a property manager is required to pick up the phone when it rings, and attend immediately to anyone that comes into the office without an appointment – it is a sure way to burn out. Allowing for regular time out to get on top of tasks and workload is imperative, balanced with time for availability for calls, and ‘the front door’ allows a right balance to be maintained.
#5- Not having an ‘appointment culture’
Following on from the last point, insisting that owners and tenants make an appointment first is imperative for the right balance for the property manager. This should be insisted upon and supported by management, and the property manager uphold.
#6- PM located on ‘the highway’
This means the property manager can be seen and/or heard from front reception and is available to anyone at any time. When a property manager isn’t able to get their workflow of ever-present tasks done this builds up, causes property managers to work after-hours to get things done, and translates into disillusionment and burnout.
#7- Poor time management skills
Sometimes a property manager can be their own worst enemy! When they think being busy translates to being productive and efficient then the job can overwhelm them and cause burnout. Property managers should be trained and kept accountable for good time management practices.
#8- Minimal training and support
When the sales team gets regular training and support, and the property managers get nothing (or next to nothing) this can also lead to disappointment and burnout. Property managers should regularly be exposed to best practice industry training and more importantly, be held accountable for the improvements learnt at such sessions. The implementation only brings results and change!
Don’t stop now! There are another 8 reasons to go!
CLICK HERE to read Part Two on the destructive reasons causing PM dissatisfaction and burnout….