Every organization struggles seeking the right skills, the right past experience, the right attitudes and so forth to succeed. Property managers, portfolio operators, and property management companies are no different.
So what's the key to putting together and executing a great property management training program?
First, you need to recognize the limitations that are on your staff. Certain times of the month and even certain times of the day are not great occasions for training, In the property management business, training should planned around the slow time of the day and during slower times of the week. Additionally, the December to February time frame is good to the extent that you can work around year end closing events. Keeping this in mind is critical as successful training requires a supportable training schedule.
Second, layout the responsibilities your property management team must meet such as:
Having laid out each of the skills, they must be assessed, training needs, determined, and training plans put in place.
Next, define your specific training and education goals. Establish measurable subject area objectives supporting those goals.
For future requirements, planning to send key persons to periodic conferences, to participate in the local Apartment Association, and insisting on incanting participation in industry blogs such as Multifamily Insiders or others of a similar nature. By doing this, you tune your people into industry trends and concepts.
Next define how each specific will be met through practice plans, classes, webinars, conference calls, Apartment Association classes etc. Additionally, support the training plan with detailed standard operating procedures to make process plans and steps readily available to all associates. Finally, stand behind the training with testing to verify the success or identify the weakness of the training plan.
With this system of skill identification, support from clear objectives, a detailed training actions, and effective testing the organization should achieve steadily increasing competency.
So what's the key to putting together and executing a great property management training program?
First, you need to recognize the limitations that are on your staff. Certain times of the month and even certain times of the day are not great occasions for training, In the property management business, training should planned around the slow time of the day and during slower times of the week. Additionally, the December to February time frame is good to the extent that you can work around year end closing events. Keeping this in mind is critical as successful training requires a supportable training schedule.
Second, layout the responsibilities your property management team must meet such as:
- Marketing including signage, print, website support, blogs, social networking, Internet Listing Services (ILS), Craiglist, etc.
- Prospect management and follow up including online contact, calls, and visits. Effectively managing these to gain the call, to complete the tour, and finally close the lease is critical.
- Resident management including billing, late notices, policy violations, evictions, etc.
- Maintenance calls, follow up, scheduling and closure,
- Supply and material inventory management,
- Contractor management,
- Capital plans and projects,
- Accounting and finance,
- Banking and bank reconciliation,
- Billing and payments,
- Rent processing,
- Online property management software skills, and
- More
Having laid out each of the skills, they must be assessed, training needs, determined, and training plans put in place.
Next, define your specific training and education goals. Establish measurable subject area objectives supporting those goals.
For future requirements, planning to send key persons to periodic conferences, to participate in the local Apartment Association, and insisting on incanting participation in industry blogs such as Multifamily Insiders or others of a similar nature. By doing this, you tune your people into industry trends and concepts.
Next define how each specific will be met through practice plans, classes, webinars, conference calls, Apartment Association classes etc. Additionally, support the training plan with detailed standard operating procedures to make process plans and steps readily available to all associates. Finally, stand behind the training with testing to verify the success or identify the weakness of the training plan.
With this system of skill identification, support from clear objectives, a detailed training actions, and effective testing the organization should achieve steadily increasing competency.
