How long have you been a property manager? If it’s been more than a few years, you’ve likely noticed some major changes. The role of the property manager has evolved significantly over the past decade from its traditional responsibilities. Remember back when a lot of time was spent collecting rent, arranging for janitorial cleaning and paying bills?
Property managers today are responsible in areas as diverse as: facility maintenance and performance, IT systems and data analysis, customer service and amenities, and capital projects (i.e., renovations and upgrades). In addition, they are business managers, involved in and responsible for real estate transactions, meeting compliance with regulatory issues, health and safety initiatives, data tracking and analysis, and strategic planning efforts.
Technology has accelerated the above transformations. Mobile apps and information services now make it possible for property managers to stay in close contact with tenants and service vendors such as commercial cleaning partners. Countless digital interface tools are available to automatically schedule building maintenance, and other building property tasks. Operations tracking software helps property managers analyze buildings’ energy consumption and develop strategies to manage energy more efficiently.
Such a rapid evolution was bound to take place; and then, along came COVID-19. Now property managers are facing a new set of challenges. These challenges are driven by many new (and changing) regulations, staff anxious about health and safety, and customers struggling to meet their monthly rental commitments.
How has COVID changed your role? Let’s have a look.
Property managers must now be available off-site
In the past, a property manager’s presence onsite was considered part of the role. It’s not surprising that this was the case. Most of activities related to operations, e.g., scheduling cleaning and maintenance, tracking work being done, contacting tenants, collecting payments, were done in person. This remained the practice, despite the fact that technology existed to make working off-site possible.
Over the past 6 months, however, COVID has accelerated the move to off-site presence in terms of both customer service, and ongoing supervision and management. Property managers had to adapt quickly to fulfilling responsibilities online, for example, through automated showings, maintenance request tracking, and online payments. Communication with tenants needs to take place through online communication systems and tools, or in many instances, the old-fashioned telephone call. Virtual site tours are now expected.
Property managers must lead with empathy
The above raises a key, new role for property managers – the ability to lead “from afar” and with empathy. Today’s property managers are now having to supervise and engage employees and vendors from a distance, in order to ensure quality services even though they cannot physically be there to inspect or lead.
The same applies to customer service. Today’s property managers need to demonstrate to tenants that they are present and listening even when they are not in the office down the hall. A high comfort level with technology also has to be balanced with making sure technology doesn’t interfere with the “people side” of the role.
This is particularly the case during such high stress times when many tenants are struggling to pay rent or looking for a listening ear. There’s never been a time when it’s been more important for regular check-ins and knowing when to step in and help wherever needed. This concern is impacting the property management business around the world. In the words of a real estate blogger in Australia, “Before the coronavirus crisis, the main goal of a property manager was to find the best tenant for a rental. Now, they have been forced into the role of power house negotiator – and counsellor.” (realestate.com.au)
Property managers are dealing with an increasing amount of complex issues
The complexity now associated with the property manager’s role has increased because of COVID. Many property managers now find themselves more involved with the financial matters of their property. Given the increase in rent delinquency, there are problems to solve in terms of debt collection, eviction moratoriums and payment plans. Budgets have had to be adjusted for unplanned expenses such as protective equipment, sanitizers, upgrades to IT systems, etc. Issues such as dealing with all the new regulations for cleaning protocols, social distancing, health and safety measures, etc. all highlight the kind of sophistication required in managing a property. Property managers are learning new things every, making decisions they haven’t had to make before, and using their best judgement at a time that lacks precedent.
Property managers have to put a health and safety culture first
Cleaning and maintenance, of course, has been a major game changer in terms of a property manager’s role. Routine building cleaning used to be something that happened in the background, ideally when most tenants didn’t see the work being done. Today’s property manager needs to ensure that residents and prospects experience and understand how often areas are sanitized, and even highlight such activities in marketing and communication materials.
The message has to be clear to all stakeholders‚ health and safety of employees and tenants is the number one priority. For instance, as rigorous cleaning continues, there’s additional pressure to assure tenants that cleaning products and methods are effective, yet as green as possible, in the wake of heightened health and safety concerns These responsibilities spill over into all aspects of communication. With so many people involved and so many moving parts, the property manager must clearly communicate to all stakeholders to ensure expectations are set and regularly updated.
Property managers need great communication skills and trusted vendor partners
There’s never been a greater need for good communications and participation on behalf of the property manager, their tenants, and tenant customers. Government guidelines and regulations are likely going to continue to change, and for most, patience will continue to be strained. Going forward, the property management industry is going to continue to see the need for skills such as communication, the ability to pivot, and being able to engage with others with empathy and decisiveness.
These attributes apply not just to the role of property manager, but also, to the vendor partners, whether they be commercial cleaning companies or technology providers.
As the industry continues its move toward the future, there are many unknowns that property managers will have to navigate with little to no prior experience. All of the above means that more and more, property managers are going to be adding vendor partners that can help them balance a myriad of responsibilities while facing their day-to-day operations.
