When people share success stories, they typically focus on what they did to get to where they are. Just Google the term “property management success” and you’ll find countless articles about what you can and should do. But what about what you shouldn’t do? The truth is, there are a number of bad habits that could easily be standing in your way and preventing you from realizing true success. Let’s take a look at a few of these below and see if there’s anything in your daily life that you could stand to ‘kick’.
Habit #1 – Being a slave to your inbox.
As a property manager, your time is precious. If you’ve found that the majority of your day is spent checking your inbox and responding to emails, then you’re practicing one of the most common yet detrimental habits in business.
Obviously, communication is critical. But that doesn’t mean your day has to revolve around it. One simple but highly effective way to kick this habit is to only check emails during scheduled blocks of time – say at 9am and 3pm. (Feel free to set an away message with a phone number for urgent requests.)
Additionally, you can leverage other tools to help save you time and free you from the chains of your email inbox. For instance, you can use property management software to automate away much of the process of communicating with tenants, owners and contractors.
Habit #2 – Being resistant to change.
We get it. Change is hard and often uncomfortable. But it’s absolutely necessary for growth and success. The property management industry has evolved tremendously over the past decade, and continues to transform even as you read these words. If you aren’t willing to adapt to these changes, you will undoubtedly get left behind.
Not only is the workplace becoming digitized, but there is an entire new generation of tech-savvy individuals making up your base of owners, tenants and other stakeholders. Simply put, your employees and your customers don’t just want digital options. They expect and demand it.
As challenging as it may be, the time to step out of your comfort zone and embrace change is now. The successful property management companies of tomorrow will offer high-tech solutions and modern conveniences that make life and business easier and more accessible. You will need to as well if you want your business to survive.
Habit #3 – Hoarding tasks.
Whether you started your property management business from the ground up, or you were hired to manage an existing team, it’s easy to get caught up in the idea that if you want something done right, you should just do it yourself. But by holding onto every task, not only are you failing to optimize your own time, but you’re also failing to adequately utilize your human resources.
Chances are, you’ve worked hard to surround yourself with capable employees. By delegating work to them, you’ll free up your schedule to be able to focus on more mission-critical business initiatives. At the same time, you’ll show your team that you trust and believe in them.
Be willing to let go of some of the tasks on your plate and empower your employees to work to their fullest potential. Arm them with the knowledge, support and tools they need to do their jobs effectively, and then walk away. It may be hard, but in the end, it will be beneficial for everyone.
As humans, we all pick up certain habits throughout our lives. Some of those habits carry over into our professional lives as well. If you want your property management business to achieve long-term, sustainable success, you must recognize the habits that are weighing you down and take the necessary steps to break those bad behaviors once and for all. Only then will your business be able to thrive.