Like it or not, the world is changing. Demographics are shifting, technology is advancing and businesses must find a way to keep up and stay relevant as these changes occur. The property management industry is no exception. Let’s take a look at some of the ways our field has evolved and, more importantly, what you can do to keep your organization up to speed and competitive in the new landscape.
The Rise of the Millennial
This generation, born anywhere between the early 1980s and early 2000s, is poised to take its position as the most influential and dominant demographic in our society. These are the folks that you will be marketing your property management services to and the people who will be renting or leasing properties from you, so it’s important that you adjust your approach accordingly. If you need a little guidance, take a look at these 5 tips for marketing to Millennials.
Get your free copy of The Property Manager’s Guide to Proactive Management — and make the time necessary to plan for an extraordinary future.
Social is Powerful
These days, you’d be hard pressed to find anyone over the age of 12 that doesn’t have a Facebook page. Social media has become a part of our everyday lives, and it’s where most people now go to locate, research and interact with businesses. If you’re not yet leveraging this powerful marketing tool for your property management business, you’re most certainly missing out. More importantly, you will quickly fall behind and lose your competitive edge if you don’t start incorporating SMM into your overall marketing strategy.
Technology is Key
As we move forward, embracing and staying up to date on technological advancements will be critical to your ongoing success. Internally, you must find a way to essentially “do more with less,” by maximizing efficiency and increasing output while also cutting costs. Externally, your customers will be seeking partnerships with property management firms that offer them the best service and all the tech features they need to make their lives easier.
Flexibility is Essential
The future of work is vastly different than what many of us may be used to. Stuffy offices and cold conference rooms are being replaced by open work stations and flexible options. Basic benefits, like health insurance, are making way for unique perks like free lunches and pet-friendly office policies. If you are going to attract and retain top talent for your company, you will need to gain a clear understanding of what these changes are and how to adapt to them so that your organization becomes a place where people want to work and, more importantly, want to stay.
Regardless of where your company stands on embracing change, it’s becoming increasingly obvious that only those organizations that understand and adapt to the way of the future will come out on top. Consider the trends listed above and find a way to incorporate that knowledge into your business strategy and you’ll be well on your way to being a top-tiered property management leader.
{{cta(‘c12133db-01ae-4feb-bca3-ff6540142ac7′,’justifyright’)}}
Get your free copy of The Property Manager’s Guide to Proactive Management — and make the time necessary to plan for an extraordinary future.
