Keys for Success

Written by PAM MCELROY & WILLIAM NYE

Having worked at nearly every level in the multifamily business—from maintenance supervisor to multifamily executive— William Nye knows a thing or two about the rental housing industry. He now spends his time sharing the knowledge he’s gleaned from his decades of experience. His anecdotal stories keep his sessions on leadership, leasing, maintenance, customer service (and more) humorous and engaging.

Don’t miss him at SFAA’s landlord expo on May 18!

We asked William for a sneak peek of his course, and he delivered below.

10 Keys to Property Management Success

Be intentional about your culture.

Everything you do in business depends on your culture. Company culture is the single most important part of any business. If you don’t focus on building a healthy culture, you will still have a culture, but it won’t be the one you want.

Imagine going outside and digging up a piece of the ground and then leaving it. What happens to that spot? Things begin to grow, but not what you want. You will find weeds have grown in that spot. That is exactly what will happen in your company if you aren’t intentional about growing a healthy culture. You will grow a culture, but it won’t be the one that you want, and as a result, your business will struggle to produce the results you want.

Pay attention to details. Everything you do matters. Lease files need to be done correctly and promptly, vacant apartments should be as perfect as possible, grounds should always look like they are loved and get attention. The details matter and will set you apart from your competition, so pay attention to everything you do. It will send a message to your residents and investors that you care. If something is worth doing, it is worth doing right.

Be a person of your word. Residents are so used to being ignored and lied to by landlords. Actually do what you say you’re going to do, and follow up promptly. You will build a reputation for being a first-class operator. Most residents move in to an apartment believing that if something breaks, management won’t fix it, and that if they pay a refundable security deposit, management will find a way to keep from refunding the money when they move out.