Over the last several months I have interviewed 50 of the most successful property managers across the United States. What I started to realize was that there was a common attribute that many of the successful property managers shared – and it was having a positive and enthusiastic attitude.
Three critical aspects of having a positive and enthusiastic attitude that were identified in the interviews were:
- Keep at it! Don’t give up!
Property management can be very difficult at times and very frustrating when things don’t always go as planned. When faced with tough challenges, the successful property managers don’t give up, they keep trying until they succeed. Sometimes it requires a different and more novel approach. Sometimes it requires a focused and more dedicated effort. And sometimes it requires drawing upon other resources like others on their team or various colleagues in their network.
- Look at problems as opportunities.
Many of the property managers used the word “opportunities” instead of talking about problems. These were the property managers that had very positive attitudes and always tried to look for the positives rather than the negatives in a particular situation. Many examples were given as to how these successful property managers have been dealing with the tough economic environment – always looking for what new opportunities are presented by the situation they are faced with.
- Increasing your knowledge will make you a better property manager.
The successful property managers never stop learning, never stop taking courses, and never stop networking. As Raymond Scarabosio of Jackson Group Property Management so aptly put it, “When you think you know it all, you don’t.” Many of the property managers also talked about how they learn so much from others on their team. Various courses and other educational venues from the industry’s professional organizations were also mentioned quite a bit, including educational opportunities from NARPM (National Association of Residential Property Managers), the IREM (Institute of Real Estate Management), and the NAA (National Apartment Association).
The interviews are documented in Mike Levy’s upcoming book “50 Interviews: Successful Property Managers.” Volume 1 (the first 25 interviews) will be published in February 2010; followed by Volume II (the remaining 25 interviews) in April 2010.