Building an Effective Property Management Team
The Real Estate / Property Management office needs people who can provide property support and services. Whether a one-man office or one filled with multiple personnel, it is important to have an effective team to run your business.
This product addresses
- the definition of a team
- how to organize or reorganize a team
- the quality of a good team leader
- how to handle difficulties, and more
Included in this product
- Building an Effective Team Manual
- 17 customizable forms
- 25+ page PDF product instructions
PM Made Easy products are copyright protected and non-transferable. Only the buyer or buyer’s representatives are authorized to modify and use the purchased content.
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Building an Effective Property Management Team
Manual Format:
The Building an Effective Property Management Team manual is an instructional PDF document.
Employee Forms:
The product comes with 22 forms to create an Employee System for your office. The forms are customizable Microsoft Word® documents.
Product Instructions:
All PM Made Easy products come with Product Instructions. It is important to read the Product Instructions designed to save hours of time and frustration before you start the manual. There is also a PDF for Using SmartArt in the folder.
Building an Effective Team
Introduction
Understanding Team Concepts
Defining a team
Defining teamwork
Team spirit
A group is NOT always a team
Team size
Team building
Team value
Team benefits
Team variables
- Types of Teams
- Company team
- Management team
- Working Team
- Special purpose team
- Virtual Teams
Team building risks
Basic Components of a team
Effective team components
- Ability to communicate
- Effective leadership
- Mission
- Active team members
- Integrity/ethics
- Enthusiasm
Effective Communication
Communication behavior
- Using simple words
- Using positive body language
- Relaying a clear message
- Using an appropriate tone of voice
- Using unnecessary repetition
- Using appropriate humor
- Obtaining positive feedback
- Showing appreciation
Communication failures
- Failing to listen
- Lack of clarity
- Not asking questions
- Withholding information
- Failing to react
Effective Leadership
Qualities of a team leader
- Possess integrity
- Convey respect
- Listen carefully
- Communicate effectively
- Provide fair treatment
- Convey confidence and calm
- Demonstrate the ability to delegate, negotiate or facilitate
- Possess the talent to organize
- Be involved with the team
- Continually evaluate the team
Team leader communication tools
- Listen
- Provide a receptive atmosphere
- Provide training
- Hold office meetings
- Conduct one-on-one meetings
- Utilize presentations
- Send clear emails
- Give proactive feedback
Team leader responsibilities
Team leader formula for failure
Who will lead?
Selecting a team leader
Team Mission and Goals
What does a mission statement accomplish?
Who creates the mission statement and when?
How do you create a team mission statement
- Construct a first draft.
- Refine the draft
- Complete the mission statement
- Share the mission statement
- Use the mission statement
- Make the mission statement visible
- Revise the mission statement when necessary
Proactive Team Members
Characteristics of good team members
Characteristics of a good team
Undesirable characteristics to avoid
Conduct, Ethics, and Enthusiasm
Do not ASSUME
Conduct requirements
Code of Ethics
Enthusiasm
Building a Property Management Team
Do you want a team?
- The one-person office
- A multiple personnel office
Team building keys
- Provide a sense of purpose
- Create clear understanding of team members roles
- Give clear expectations
- Provide opportunities to contribute
- Give private criticism
- Display public praise
- Provide stability
- Provide opportunity for growth
- Add new and different talent
- Provide freedom and support
- Build trust
- Create a positive environment
Seven (7) Steps to Analyze Current Personnel & Services
Step 1 – Review the framework of a property management team
Step 2 – Identify your external teams
- Maintenance – i.e. general contractors, electricians, plumbers, carpet installers, house cleaners
- Business services – i.e. screening, inspection, web host, web marketing, vacancy services
- Professional services – i.e. insurance agents, attorneys, financial institutions
- Personal support – i.e. family, friends
Step 3 – Review your external teams
Step 4 – Create your ideal team structure
Step 5 -Evaluate existing personnel
- Identify existing personnel
- Conduct company events to observe personnel
- Have individual personnel do a self-assessment
- Conduct individual interviews with personnel
- Assess potential leadership
Step 6 – Combine your team structure with personnel evaluations
Step 7 – Evaluate your results
Completing or Updating Your Team
Eliminate/fire non-team personnel
- This isn’t about you
- Document everything
- Time their exit
- Keep the office secure
- Let them go graciously
Hire new team members
- Set up your expectations in advance
- Use good documentation and screening
- Have a good interview process
- Consider an intern program
Hiring tips for a virtual team member
- Have face-to-face contact
- Ask Behavioral Questions
- Test or prove their skills
Training and Motivating Your Property Management Team
Training team members
- General team communication guidelines
- Remember the word assume
- Train using company documents
- Train personnel on laws/legislation
- Train all personnel on organized office systems
- Train team members individually
- Train during group meetings
Office Meetings
- Meeting benefits
- Meeting tips
- Team leader meeting responsibilities
- Why meetings fail
Implement a Team Safety Plan
Recognize areas of potential violence
Analyze all current safety procedures
Team building exercises
Pros for team building exercises
Have a purpose/goal
- Make a written plan
- Discuss the team building exercise in advance with the team
- Conduct the exercise
- Evaluate the exercise
Effective team exercises
Rewarding and Motivating the Team
Financial rewards
Company awards
Incentives and appreciation
Team Retreats
Benefits of a team retreat
Tips for planning a retreat
- Do advance planning.
- Make the retreat comfortable.
- Make the retreat relevant.
- Keep the retreat on track and toward the retreat goals.
- Follow up after the retreat.
Trouble Shooting the Property Management Team
Review the reasons for team failure
Reevaluate the team
Take action
- Create a recovery plan
- Monitor the progress of the team
- Adjust the plan as needed
Continually reevaluate
Conclusion
Appendix
Team Forms
1 – Communication Worksheet
2 – Team Leader Review
3 – Six Word Review
4 – Team Mission Worksheet
5 – External Team Graph
6 – Ideal Team Structure Graph
7 – Current Personnel Record
8 – Self-assessment Worksheet
9 – Team Member Evaluation
10 – Team Review
11 – Termination Checklist
12 – New Hire Checklist
13 – Virtual Hire Checklist
14 – Meeting Planner
15 – Meeting Minutes/Evaluation Worksheet
16 – Mind Map
17 – Team Building Exercise Planner
18 – Safety Checklist
19 – Team Retreat Planner
20- Team Retreat Minutes /Evaluation Worksheet
21 – Team Troubleshooting Worksheet
22 – Yearly Team Review
Exerpts
Team building
Team building is the use of different activities aimed at enhancing social relations and clarifying team members’ roles. These activities frequently involve tasks that individuals must solve collaboratively.
Team building was originally a group process aimed at improving interpersonal relations and social interactions. Over time, this practice developed in businesses to encompass how to achieve results, meet goals, and accomplish tasks.
Team building requires these components:
- Goal setting
- Building effective working relationships
- Role clarification
Team value
People or companies want something if it has value or provides a benefit. Property management is a multifaceted business that involves many people, difficult/challenging situations, and the responsibility of managing real property. It is important to determine if it is worthwhile to spend time on creating a team or improving and existing team or teams.
Team benefits
So why do you need a team and why should you spend time and money building one? Below are many benefits for building a team.
- A team can be more efficient.
- A team takes advantage of multiple skill sets.
- A team means that productivity does not depend on one person.
- A team can work faster.
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Qualities of a team leader
A good leader realizes that no one person, including the team leader, is perfect.
For a fully functioning team, someone has to be in charge and possess certain qualities that will inspire and drive a team to success. Most books and articles agree on what constitutes good qualities in a team leader. When deciding who the team leader will be, the following qualities are necessary.
- Possess integrity
An effective team leader is open and honest with his team members. Leaders who possess integrity gain trust by treating team members the way he or she wishes to be treated. This inspires team members to follow and work to the best of their ability. - Convey respect
A quality team leader is respectful of his team members. A respectful leader empowers team members by encouraging them to offer ideas about decisions that affect them and letting them know that he or she respects their input and opinions. Good team leaders focus…
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Who will lead?
Often the company owner assumes the role of leadership. However, just owning the business does not necessarily make for a good team leader. It is important that whoever owns or runs the business is able to discern who should be the “active” team leader or leaders if they cannot effectively lead the….