Property managers today are placing a great emphasis on nurturing a strong real estate portfolio – and rightfully so. Investing in the growth of your portfolio grants you the opportunity to increase units, streamline costs, and maximize your return on investment.
But a strong portfolio doesn’t necessarily equate to success.
Property management success is far often the result of a strong property management team – one that’s filled with the right kind of talent. When the right individuals and processes carry your business, you can rest assured that your portfolio is being led in the right direction.
Nat Kunes, VP of Product Management at AppFolio, spoke to GlobeSt.com in a recent interview of this importance: how to choose, and retain, your next class of talent.
Nat explains that securing top talent is as easy as leveraging technology and adopting modernized systems. Today’s top talent pools are being filled with younger, more tech savvy generations – Millennials and the upcoming Generation Z – comprised of individuals who value sophisticated, digital solutions over the manual and handwritten processes of the past. Integrating today’s technology, like AppFolio, into your own property management business will attract this rising cohort of workers and will likely keep them around because they’ll find their work more satisfying and efficient.
An important note for property managers to consider is also the changing face of management. The average age of a property manager today is over 50 years old, and in 10 to 15 years’ time, they’ll be transitioning into retirement. Being proactive and recruiting younger talent can set in place the people and processes needed for success in the future.
“Younger generations are mobile and tech savvy, but they want to be able to use those advancements in technology in all aspects of their daily lives—including their careers.” – Nat Kunes.
Pairing your upgraded technology with a strong company culture is also wise for property managers looking to attract the best team. Especially when looking to include millennials on your team, it’s a good decision to ramp up your benefits and available opportunities for upward mobility. Benefits should include on-the-job trainings and up-skilling opportunities – anything that makes employees feel like you’re investing in their growth. These culture add-ons may take a little time to implement but they go a long way in boosting employee satisfaction, loyalty, and company morale.
For the full interview and more on how technology can streamline your business – and attract your next class of star talent – check out “Good Property Management Comes Down to Talent.”