Fair Housing and What You Need to Know

5 Qualities and Habits of Great Property Managers

Source: Marc Courtenay        http://www.propertymanager.com/2017/04/5-qualities-and-habits-of-great-property-managers/

Sometimes life is what happens while we’re making other plans. Other times life feels like it’s in the palm of our hands waiting for our decisions about what we want to make happen next. Maybe that’s the way our lives are supposed to feel. One of the things I know for sure is that you can learn a great deal about successful property management by watching those who are adroit at it.

One of my “pet projects” is studying the habits, qualities and characteristics of highly successful property managers. Through the years I’ve discovered some consistencies they all seem to share.
The first is what I call “brilliance”. I don’t mean they’re extra smart nor have an unusually high Intelligence Quota (IQ). Their “brilliance” shines in their daily approach to their work. Like this article implies, they’ve learned from other brilliant managers and they’ve applied what they’ve learned. They’re willing to take the time to study the characteristics and successes of others.

The second quality, one that becomes habitual, is that great property managers have an extraordinary amount of curiosity. Since they are, either by nature or self-discipline, observant professionals, they keep their eyes and ears wide open for better ways to accomplish. They’re not afraid to ask questions, do research, and delegate to others the task of finding solutions.

They’re obsessed with growing and evolving. They seem to innately know that something that they don’t know is holding them back from reaching their full potential. They’ll go to seminars, join associations, listen to self-improvement CDs and watch DVDs. As the father of Self-Actualization, Abraham Maslow, would say, “They must become all that they must be!”

Humility is a key quality and component of their character. They’re not driven by their egos and they don’t care a hoot about becoming arrogant. They like achieving abundance and success, but they’re not compelled by an insatiable appetite for wealth and power. With their humility comes a sense of altruism and a desire to know they are making a positive contribution to society. They derive great satisfaction in serving the needs of their clients and residents.

They strive for excellence without being perfectionists. Perfectionism will drive you to distraction! Wanting to be their “personal best” and to challenge themselves away from mediocrity and complacency describes these high achievers. They learn from their results.

To gain more understanding about the qualities and characteristics of outstanding property managers, I encourage you to read a book (or listen to the audio version) like “Good to Great” by author Jim Collins.

Property Managers are in many ways similar to companies and corporations. Why do some stay stuck, implode or wither why others “make the leap” from being good to becoming great.
“How can good companies, mediocre companies, even bad companies achieve enduring greatness?” When that question is answered, it can almost always be applied to individuals and partnerships.

“For years, this question preyed on the mind of Jim Collins. Are there companies that defy gravity and convert long-term mediocrity or worse into long-term superiority? And if so, what are the universal distinguishing characteristics that cause a company to [become] great?” After an intensive 5 year study Collins and his team of researchers found some amazing similarities.

Those in the property management industry can benefit from insights and ideas that articles like this one or a book like “Good to Great” offers. Knowledge and awareness will provide the power and the “fuel” to help propel you to the next level of personal growth and rewarding achievements.