It’s been said that the most expensive aspect of multifamily investing is replacing tenants, but that’s only half true. Any employer can tell you that replacing professional staff members can be just as costly— to your bottom line and business reputation.
Finding long-term tenants and building their loyalty to your community’s brand is important, and it’s just as important to do the same when hiring leasing and maintenance team members. Especially among Millennials, finding a job that offers purpose and identity is essential. Productivity suffers as much as 60 percent among employees that aren’t engaged, so scout your new hires like you would great tenants—recruit for the long-term.
Start with your brand
Every community has unique selling points. Find yours and build your branding effort around what makes your rentals feel like home. Build your tenants’ sense of community with a cohesive marketing effort that includes external and internal messaging. Hiring should be a natural extension of those external messages and should emphasize that working for you means becoming an essential member of your community’s family.
Follow industry best-practice leaders
The best in the business focus on building a pervasive and inescapable corporate culture of excellence. Just like great long-term tenants get extra perks at the best apartment communities, employees that embody the highest levels of customer service and professionalism are rewarded. Upper management and owners need to get boots on the ground and be seen setting the example for how employees, especially new hires, are expected to act. Personal attention to top-notch employees will have a huge influence on culture and overall job satisfaction, so put in some face time with your best hires.
Ask for feedback
Annual tenant surveys can help apartment managers spot gaps in customer service and maintenance, and annual employee surveys can highlight threats to morale and culture. How employees feel about their work environment directly affects their loyalty and job satisfaction. Take feedback and suggestions seriously, and implement changes that let your staff know you’re listening and that you value their hard work and dedication.
Need a recruiter to find new hires?
It’s our specialty! Class A Management will help you build and maintain a culture that builds loyalty and recruit staff to meet and surpass your expectations. Our team has decades of experience providing comprehensive management services for many properties across Texas. Contact us to discuss your investment property staffing needs.