In the world of property management, the team who is managing your assets / investments / properties / apartments might be across the city, across many cities or even hundreds & thousands of miles away. Let’s agree…managing a team in property management that is geographically dispersed can be a challenge---and requires a special set of leadership skills.
From a leadership perspective, how are you coaching/leading your property management team---related to the areas/questions below?
1. When coaching/leading a team that is geographically dispersed what kind of reporting is needed/required? How often/frequent is reporting required? How often do you meet face-to-face with your team at their location? How often does your team travel to your main/corporate office for in-person meetings?
2. When thinking about the level of service being given to your residents/tenants…how do you measure/know from afar---that the level of service is meeting and exceeding your expectations? How quickly do you know that a team member is failing? What checks-and-balances are in place to know rapidly…that levels of service are not what you are expecting?
3. From a maintenance point of view…how do you insure from afar---that your maintenance team is delivering on the promise of daily & ongoing resident/tenant repairs, general property upkeep, equipment repair/replacement and landscaping? What about longer term maintenance areas such as roofing, painting, carpeting/flooring, remodeling, water/mold damage, etc?
4. Thinking about the financial side of the house…what checks-and-balances and reporting is required when coaching/leading a team that is geographically dispersed? How do you prevent financial theft?
5. When working with vendors/suppliers who are serving your property management company across many locations/cities/markets…how do you insure that pricing, service and performance…are being delivered as promised?
6. What technology and/or software programs and/or computer systems are you using to best coach/lead your teams?
7. From a marketing point of view…how do you insure from afar---that your marketing team is delivering on their promise to bring more residents/tenants to your assets/investments/properties/apartments? What are the key areas to measure…to know you are getting the best ROI?
8. When a person leaves your property management company who has been working from a remote location…what are the steps for making a smooth transition? What cross-training is done within your property management company to navigate employee transition and replacement? What checks-and-balances are in place to insure your training department is providing the best in learning/training for your property management team?
9. What about compensation…how does this tie into managing teams that are geographically dispersed? What kind of compensation plans will insure your remote teams are delivering on the financial performance you are expecting?
I look forward to your reply/response and insight to this discussion post/thread~
In addition, based on your feedback to this discussion post/thread…I will design/build/host an upcoming thought-leadership webcast and send you an invitation to join. Surf below to see the wide range of CEO thought-leadership webcasts recently completed,
Texas-Based Real Estate Investment Group Acquires Three Large Multifamily Communities Totaling 600-Units in San Antonio
FCP and VaultCap Partners Complete Acquisition of 200-unit Huntington Meadows Apartment Community in Austin, Texas
Mayfair and Navarino Enter Huntsville Market With $17.5 Million Acquisition of Cambridge Court and Windsor Apartment Communities
Freshwater Investments Expands Its Footprint With $26.5 Million Acquisition of Hanover Apartments in Portland, Oregon Submarket
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