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We also need to ensure the right training is in place. This gives our employees the tools to do their jobs effectively and thus realize our business goals. A company that invests in an employee’s professional growth is really investing in its own business. Therefore it is essential to provide the leasing team with appropriate training and also to encourage the members to work on their professional development.
 
An important management practice is to maintain an open-door policy. Leasing people should feel comfortable communicating to their manager about job dissatisfactions. A good manager makes time to share concerns or give and take constructive feedback from their subordinates. In addition, if a manager becomes aware of an employee’s concerns, they have an opportunity to address any issues at an early stage. This can often resolve a situation before it has escalated. By taking control, the manager can also communicate the official company policy, if that is appropriate, or simply lend a receptive ear. Employees sometimes just want their feelings or concerns to be recognized and an available manager helps to fulfill that purpose. Knowing their manager supports them can be very beneficial to an employee’s morale, which in turn often leads to sustained or increased productivity.
 
One of the most popular ways of motivating our leasing teams especially at naturally quieter times is through incentive programs, which can be very effective. If targets are not being met however, it may be time to take a second look at our incentive program.
 
A good incentive program for the leasing team should include:
·         Setting achievable goals. These are essential in maintaining the motivation of your leasing team. Unrealistic, unachievable goals run the risk of de-motivating the team, causing energy levels to plummet with disastrous consequences for the business.
·         Be absolutely certain that your leasing people understand your expectations of them and how they will be rewarded for success. As a guideline, it is unwise to reward the team for only achieving minimal standards. Once the base requirements are being met consistently, you will have the foundation on which higher goals can be set.
·         Consequences for failing to achieve targets. Ensure that there is a downside to not meeting the required standards. Sometimes people are motivated more by seeking to avoid an outcome, than by achieving one.
·         Make the incentive program's timeline clear so that everyone knows exactly when it starts, ends and that your evaluation will be of their output between these two points.
·         Establish the reward up front and ensure that people have a clear picture in their mind of what they are working for – make sure that they can see the prize. If a person can imagine using it, they will feel its possible loss more acutely and should work harder to secure it. While cash is versatile, often other incentives can be more powerful. Selecting rewards that friends or family can share are often greatly effective e.g. Free dinner for two at a well-known restaurant. If the representative can share the results of her/his efforts with others, the incentive attains an additional social benefit that may increase its attraction and motivate them to succeed.]]> http://www.iremfirst.org/jforum/posts/preList/537/3588.page http://www.iremfirst.org/jforum/posts/preList/537/3588.page GMT
By attaining professional designations, certifications and professional recognition, an individual is demonstrating a knowledge base that advertises their status as an achiever with the dedication to succeed in their industry. Having letters such as CPM, ARM and CAPS after their name on a business card is a clear statement of purpose. It advertises the person as having achieved industry standards by an external organization and been awarded with a recognized. It acts as a testimonial and gives credibility to the bearer.

In addition to industry designations, professional development can also take many other forms including: company sponsored training, online courses, webinars, and offerings from the local NAA Affiliate or IREM Chapter. Regardless of the source, it is essential to learn about your business every day and to take advantage of every industry related educational opportunity that is available. Learning from the experts is a shortcut to sharpening your skills.

It is true to say that the generation before us enjoyed much greater job security than we do. Many individuals could expect to stay with the same company throughout their careers and to work their way up in a steady career progression, often based predominantly on seniority. It was common practice for companies to operate a ‘Last in, First out’ policy when reducing headcount. This had advantages in providing job security, but it also constrained new thinking and new ideas.

For better or worse the concept of a ‘job for life’ with employment security and a structured career ladder typically no longer applies. Many employees will transition between several careers during their working lives. A commonly held belief indicates that an individual will change careers roughly five times during their lifetimes. With the pace of change it is easy to believe this. Ten years ago we had not heard of Facebook, iPods or Google and a large number of jobs currently being actively recruited for did not exist e.g. Search Engine Optimization Manager, Content Manager, Patient Advocate and Virtual Assistant.

From the perspective of many employers, ongoing training and continuous professional development are now essential to ensure that their business is up-to-date and retains a competitive edge. As an employee, your enthusiasm for seeking out professional development opportunities aligns yourself to that way of thinking and tells a prospective employer that you are dedicated to the property management sector and are open and willing to continually develop your skills.

Cultivating a love of learning and a willingness to apply it are two of the most effective behaviors you can adopt to drive your career forward. By learning new things every day you will help yourself to stay at the forefront of industry trends and technological advances. This will help keep your skills relevant and competitive – and do the same for your business.

If you stop learning, you will stop innovating and if you stop innovating, you will stop advancing. And in business, companies that stop progressing soon begin to stagnate. Even the best of organizations need to keep developing because the world around us continually changes and what is true for the world is also true for business.

Companies that are constantly developing will overtake their stationery counterparts. And what is true of companies is often true for the individual in the workplace. The majority of roles and industries are subject to change and the individual who decides to stop developing will be eventually be overtaken by those colleagues who have embraced their development. This is mainly a question of attitude and desiring to develop. Everyone can learn to improve how they do things. It just takes willingness.]]> http://www.iremfirst.org/jforum/posts/preList/536/3587.page http://www.iremfirst.org/jforum/posts/preList/536/3587.page GMT
I need advice from my fellow members..... I have a newer leasing consultant who completed a lease and a move-in this past weekend. The problem is she allowed him to move in WITHOUT paying his $649.00 security deposit. She claims that he promised he would bring it in today. However, came to find out he won't have it until May 1. She cleared knew the policy. Should I write her up or immediate termination? Thoughts/opinions? Please share.]]> http://www.iremfirst.org/jforum/posts/preList/535/3584.page http://www.iremfirst.org/jforum/posts/preList/535/3584.page GMT
We are an AMO and one of my clients had large Property Tax refunds given back to him in 2011 for the years 2009-2011. We re-ran the CAMS for both 2009 and 2010 and a few of the Tenant's are owed a decent amount of money due to the Taxes being lowered for each of those calendar years. However, my client has asked us not to let the Tenants know about the refunds in 2009 & 2010 and not reimburse. I have a real issue with this request, but before I respond to my client, I wonder if anyone has experienced anything similar. Also, thoughts on whether as an AMO, we can even adhere to the Owner's request.

Thanks for any feedback on this matter.]]> http://www.iremfirst.org/jforum/posts/preList/534/3579.page http://www.iremfirst.org/jforum/posts/preList/534/3579.page GMT
I am also looking for feedback from property management software users regarding your experience with a particular product. I've heard a lot of good things about Jenark recently.]]> http://www.iremfirst.org/jforum/posts/preList/533/3578.page http://www.iremfirst.org/jforum/posts/preList/533/3578.page GMT
I am new to the forum and just getting in to property management. Currently I am looking into insurance costs and was curious as to the requirements. I am sure there as many options as the year is long, but I was hoping fellow readers could provide some treasured insight.

We are a property management company that operates on behalf of owners of commercial and residential property, although we do not own any property of our own, yet. :). Are there any tips for suggested coverage or good experiences with good insurance companies for our business? All help is appreciated!

Thank you!
Austin]]> http://www.iremfirst.org/jforum/posts/preList/532/3562.page http://www.iremfirst.org/jforum/posts/preList/532/3562.page GMT http://www.iremfirst.org/jforum/posts/preList/531/3559.page http://www.iremfirst.org/jforum/posts/preList/531/3559.page GMT
So there we have it. My marketing message from all my communities for the next 6 weeks or so is going to be “we are foreclosure friendly! Apply for your new home today!” Truth be told, our screening criteria usually recommends just an increased deposit for individuals who have been foreclosed upon. So essentially we are not going to be changing much except the perception of how prospects who have been foreclosed upon will be treated in our office as opposed to the office down the street.

I think this is going to be one of many examples of our market is changing and how we need to make adjustments in our business model.
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I have been unable to find like research on the other states. How does your company define its managers?Does the terminology stem from company preference or they guided by Real Estate Commission guidelines or perhaps another commission? ]]> http://www.iremfirst.org/jforum/posts/preList/528/3551.page http://www.iremfirst.org/jforum/posts/preList/528/3551.page GMT http://www.iremfirst.org/jforum/posts/preList/527/3548.page http://www.iremfirst.org/jforum/posts/preList/527/3548.page GMT http://www.iremfirst.org/jforum/posts/preList/526/3547.page http://www.iremfirst.org/jforum/posts/preList/526/3547.page GMT http://www.iremfirst.org/jforum/posts/preList/525/3545.page http://www.iremfirst.org/jforum/posts/preList/525/3545.page GMT Dee]]> http://www.iremfirst.org/jforum/posts/preList/524/3542.page http://www.iremfirst.org/jforum/posts/preList/524/3542.page GMT