Behind every great property management business are the values and principles that drive their success and "the glue" that holds everything together.
The following principles are universal and, when applied, are a roadmap to success.
The Property Manager's 14 Principles For Success:
As a world-class property manager you strive to abide by the principles below.
1) Be honest.
Always be honest. Everyone makes mistakes, but if you do, you own up to it. Don’t make false statements or give answers when you are unsure.
2) Respect others.
While you may not always share the same opinions, you respect each other’s uniqueness and viewpoint, and you learn from others.
3) If it’s not legal, don’t do it!
Numerous federal, state, and local laws and regulations protect the interests of tenants and landlords, and you follow them precisely. Failure to adhere to laws and regulations puts you in jeopardy of losing money, your job, your franchise location, or your entire livelihood.
4) Communicate clearly.
You strive to communicate clearly with everyone you come into contact with, whether they are customers, clients, coworkers, franchisees, or the home office. Any bad news is best communicated in person or on the telephone, not via email or text.
5) Create a culture of continuous improvement.
You are always looking to do things better. You continually learn by seeing, listening, and
integrating specific feedback about individual and company performance.
6) Go above and beyond.
You place your customers and clients first and always exceed expectations in order to
promote and protect the your brand.
Leave your attitude at the door.
During business hours, your main focus is to provide a high level of service that shouldn’t be diminished by personal issues or emotions that interfere with the business.
7) Deliver consistency.
Want to be successful? It is simple. Deliver a consistent level of quality service again and
again. Although it may sound simple, very few people or companies do it well.
8) Protect the brand.
Your brand is only as good as its reputation. You protect your reputation. If you see a
fellow member of the business or franchise abusing it, let them know how you feel and communicate with the home office right away.
9) Focus long term.
You are in a long-term residual business. You recognize your customers and clients will be with you for many years to come. This is why you set up your relationships properly from the beginning. It is not the dollar today that is important, but the hundred dollars tomorrow.
10) Be efficient with your time.
You know that time is money and a limited resource not to be squandered. You use it wisely.
11) Things are not always as they appear.
Humanity can be challenging from time to time. Much of your business revolves around
dealing with people. You expect the unexpected and plan accordingly.
12) Offer a premium service and charge accordingly.
Because of low barriers to enter into this business, there are plenty of “here today, gone
tomorrow” competitors willing to undercut fees. Fortunately, the adage, “you get what you pay for,” applies to this business. You offer a premium service and charge accordingly.
13) Marketing is everything. If we are not growing, we are dying.
You can have all the knowledge in the world, but unless we have a
customer or client, you don’t have a business.
14) Lifetime Learning 24/7
Learning doesn’t end in high school or college. Successful people always look to improve
their knowledge base. What good articles or books have you read lately?
If everyone follows these simple principles, then clients, customers, and team members will all have a quality experience with your brand or the franchise you represent no matter where they are in the country.