The Most Challenging Aspects of Property Management

Owning and operating a full-service property management company involves many people wearing many different hats. It means never knowing exactly what to expect but rolling with the punches.  In this industry, no two days are the same and each week presents a new set of challenges to work through and learn from. Those who work in property management need to be quick thinkers and problem solvers in order to excel in their everyday work life. If you are searching for the best property management team to hire, you need to find a team who will be able to think fast while keeping your residents’ needs and ultimately, your asset, at top of mind. Here are 3 of the most challenging aspects of property management and how the proper team can successfully handle them:  

Hiring and managing quality staff

Whether it’s hiring a community manager, a leasing consultant or a maintenance technician, having the right staff in place can make or break an apartment community. Residents have high expectations for the customer service they receive. This means that property management companies need to strive to hire the best quality staff, and also manage and maintain their teams well. Residents want to know that you’ll be there to take care of them whenever they need you and when you are, they will trust you more and stick around longer. Residents like consistency, and they want to see familiar faces throughout their community. A proper property management company will have the experience and knowledge to hire the best employees. They will also know how to continuously train their teams in order to help employees learn and grow which in turn maintains a high rate of resident retention. We find that when your employees feel valued and appreciated, that feeling will in turn directly affect how they take care of residents. 

Here at P.B. Bell, we have more than 40 years of experience managing properties throughout the Phoenix metro area, and we have a training program that is not only successful, but our employees rave about it. We make sure that each and every one of our employees are set up for success from day one and we bring our teams up to speed as we stay ahead of the curve. 

Unexpected Maintenance/Damages

There’s no way to predict exactly what obstacles will come your way at your community. There are some things that are out of our control whether it be from events like natural disasters or day to day situations that arise from owning and operating a multifamily community with hundreds of residents. A trained property management team will be able to address problems that arise in a timely fashion as well as be prepared with action plans for possible scenarios that could, and often do, occur. By having and coming up with effective solutions ahead of time, we can be cost-effective and also considerate towards residents’ needs. On top of this, the best property management teams are proactive and perform regular preventative maintenance. This entails routine checkups of the community to ensure that the property is in pristine condition, in order to try to avoid any costly problems down the road. 

At P.B. Bell, there are many routine items on our list that we check and watch out for, whether it be weekly, monthly, quarterly, or yearly. From inspections for landscaping, fitness and pool equipment, fire alarms and extinguishers–to power washing, furniture cleaning in common areas, painting and resurfacing, regular HVAC maintenance and filter changes, and more, there is so much that goes into the upkeep of an apartment community. 

Taking the time during the year to maintain your asset instead of waiting for an issue to come up is well worth the time and money in the long run. By hiring a knowledgeable property management company to do the heavy lifting and maintain your apartment community, you will maintain and grow the value of your investment.

Managing Reputation

Having a positive online reputation is imperative when trying to retain your current residents while also trying to garner interest from potential new residents as well. Negative reviews and a poor image can shatter a community’s ability to prosper within this highly competitive market. Managing and maintaining a positive online reputation can be difficult with the many social platforms out there for people to express their opinions, especially when most people only review something when they feel they’ve had a poor experience. You often only see a handful of reviews online, when in reality, you likely have hundreds of happy residents. 

A reputable property management company will understand the value and importance of a positive image within and outside of the community. Not only will the best team provide quality service that will generate positive reviews and perception, they will also strive to properly deal with negative reviews in a mature and prompt fashion. 

At P.B. Bell, our team handles anything that comes our way and we make sure that if we have a negative review (which does happen even at the most pristine communities), it is taken care of right away; whether that means simply responding to the review with class or making it a priority to speak with the person who left the review to do our best to assist with their needs. We do what’s right, no matter what. It’s equally important to respond to the great reviews, and it doesn’t hurt to ask for a review when someone “thanks” you or tells you that they “appreciate good customer service.” We let them know that the best “thank you” they can give is a review of their experience with us and their community.

With countless unforeseen obstacles within the multifamily industry, it’s crucial to have a property management team that has both you and your residents’ needs at top of mind. Hiring the right property management company for your community will be one of the major determining factors as to whether or not your asset will thrive or fail. When picking the best team to support your apartment and residents, do your research to find a qualified property management group that fits your needs. 

Ready to hire an experienced and efficient property management team? Check out our services and give us a call at (480) 951-2222.