Property Management Council

Welcome to the Circus

By: John M. Alexander, W.I.T. Realty LLC, Aurora Property Management

In every circus, there are certain people you expect: the ringmaster, the acrobats, the clowns, the jugglers, the tightrope walkers, and the guy selling peanuts. In property management, whether residential or commercial, from time to time, you might feel like various members of a circus.

PROPERTY MANAGER’S

THE PROPERTY MANAGAMENT CIRCUS CIRCUS

THE RINGMASTER

Always keep in mind that you are, above all else, the Ringmaster. It’s handy to think of the owner as the person who owns the circus, and you’re the person in the center ring wearing the top hat directing the show. It’s the delicate art of balancing the power between owner and Ringmaster. And, at times, you have to be a...

TIGHTROPE WALKER

One major slip and you’re done for. However, you have that balancing rod and, like Nic Wallenda, you control your every step. The secret to walking above Niagara Falls on a wire is to be careful with what you do and how you manage your properties, step by step. Always keep the owner’s profit margin in mind. Suggest different acts, performers, and venues to show the owner how your management services can increase the bottom line. A little thing that brings a tax savings, or adds a term to a lease to increase monthly cash flow. If you successfully do this, you will be an expert...

ACROBAT

Keep learning things to become a better manager. Every article, every book, every lecture, and every zoom meeting will teach you how to stretch and bend and work all those better moves into your routine. But, sometimes you will run across two immovable objects, like an excellent tenant who will renew for a higher rent if the owner will make some improvements to the property. What to do in that situation? Easy. You become a good...

JUGGLER

Convey all the information quickly to your owner, and mention the pros and cons of the tenant’s proposal and the owner’s bottom line. But, always, forever, for a million years, remember that you work for the owner. Juggle the situation. It’s your owner’s decision. Keep that in mind, and you will NEVER be a...

CLOWN

Some clowns are happy. Some clowns are scary. It’s good to have a laugh now and then with your owner but not to entertain with your sparkling wit. Just keep it businesslike and friendly. Not only will you not become the scary clown, but you will also not become...

THE GUY SELLING PEANUTS

Stay in control, follow your instincts, keep up with market changes, make financially-wise suggestions, balance on the tightrope, juggle big problems, keep the owner’s best interests at heart, keep it friendly and not scary, and you will NOT wind up selling peanuts. Instead, you will be: The Greatest Show on Earth! •