| Successful property management requires more | | | | Step 5 ==> For organizations and contractors |
| than simply hiring experienced staff, providing | | | | that will support your team determine how you |
| good management systems, and surrounding the | | | | will qualify and measure performance from |
| team with the necessary contractors, contracts, | | | | outside entities. This plan should concretely |
| and services. A great property management | | | | measure the capacity to perform against your |
| capability requires a clear understanding of the | | | | skills requirements. Contractors could provide |
| skills, education, and experience required. The clear | | | | sample work product or demonstrate their |
| understanding of skills, education, and experience | | | | products and skills at their facility or during site |
| requires reinforcement through a well thought out | | | | visits. Combine verification with reference |
| and designed training and skills management plan. | | | | checking. While speaking with the references, |
| How should the management company or | | | | ensure you gain a detailed understanding of the |
| portfolio owner go about creating this plan? | | | | demand level and actual services delivered so that |
| Begin by assessing the skills needs of your | | | | you can verify the references relevance to your |
| organization as operating today and considering | | | | requirements. |
| developments in the industry for your needs | | | | Step 6 ==> Prepare by position the experiences, |
| tomorrow. | | | | means of verifying the experiences, skills, tests |
| Step 1 ==> Identify the key operating | | | | for skills, and training plans for the internal |
| requirements for your organization: | | | | positions. Training should 1) teach new skills that |
| - Leasing | | | | you want to see grown at each position and 2) |
| - Marketing | | | | refresh critical skills in each position. |
| - Elements of resident management including | | | | Step 7 ==> Develop goals and objective for staff |
| property policy, billing, collecting, and evictions | | | | to meet during each reporting period. Reporting |
| - Human resource compliance | | | | periods should be quarterly during the first year |
| - Regulatory compliance | | | | of service and semi annually thereafter. |
| - Accounting, finance, and banking | | | | Step 8 ==> Set in motion a continuous training |
| - Maintenance and work order management | | | | and development plan that reinforces critical skills, |
| - Property subsystem support | | | | develops new skills, cross trains critical skills, and |
| - Customer service | | | | develops management for the future of the |
| Step 2 ==> Determine key skills and | | | | business. |
| development in the industry that you want your | | | | Step 9 ==> Create a program to test and |
| organization to follow and what training, | | | | assess skills levels as the final reinforcing |
| equipment, systems, and so on are necessary to | | | | component of the skills management program. |
| pursue these goals if any. | | | | From this and combined with operating results, |
| Step 3 ==> Determine what education and | | | | property managers and executives can determine |
| experience backgrounds typify and support your | | | | how effective the program is and make needed |
| portfolio systems, service goals, and future plans. | | | | adjustments to achieve the desired effectiveness. |
| Step 4 ==> Prepare a list of positions that your | | | | Implementing this program will create an effective |
| portfolio requires. Identify whether the positions | | | | plan to assure great leasing skills, strong |
| are full time or part time. Determine which | | | | marketing, great operations, great customer |
| positions will be filled internally by hired staff and | | | | service, and great strategic positioning for the |
| which will be filled by contractors. | | | | business. |