The key that successfully-run property management companies know is that operations aren't just about business and condo expertise, but also understanding how to foster a positive long-term relationship with people (staff, condo vendors, clients, etc.).
It’s a tall order considering how fickle and dynamic each of these components are, and when put together… well, it’s a whole lot of moving parts. So, how are you keeping up?
Some property management companies are meeting this challenge better than others, and this is especially true of the larger ones that have the financial and human resources necessary to pay attention to each component.
Furthermore, the businesses that understand and apply the big picture see the condo industry as holistic in that it’s not just about condos, vendors and directors, but equally about their own staff and the value of prioritizing their human resources. Unfortunately, the tools required to effectively tend to all these crucial aspects of property management companies often come at a significant overall expense, and is therefore often the reason why many mid-sized/small companies experience challenges trying achieve the growth that they envision.
Let’s not even get into the current staffing shortages and resulting “Manager’s Market”, or that the industry is ever-evolving and therefore consistently dynamic. But, don’t worry, all property management companies have to do is keep up, and make sure all of their staff does, too! Owch… sounds like a tall order to us!
Frustrating, isn’t it?
So much of this industry and its components are unique: the corporations, the clients (directors and residents), and the day-to-day situations, and there really are an abundance of sources out there that tackle many of these matters… if you know where to look and how to find them... and have the time to scour sites and sources!
Property management companies often struggle with problems of accessibility: you know you should be finding golden resources and tools to provide to your staff, but where do you even start? And once you find them, how do you share these in an effective and enforceable manner? …and, once you invest all this in your employees, how do you do your best to ensure they stay with you and don’t just pack up down a path leading to a different company?
Property management companies: Unlocking Stratastic’s secret weapons
Stratastic’s goal is to interconnect the aspects that spell success for all property management companies, such as:
Objective and diverse resources, such as an extensive Resource Library, Vendor Directory, Events, and Insights/News. Users (such as property management consultants) can save important resources and contacts to their private profiles, and condo management companies can personalize their staff’s profiles with preferred condo vendors and important resources. Furthermore, we share crucial Human Resources methods with you, so you can do your best to retain the best!
Automatic condo-specific reminders (ex: important budget and owner’s meetings dates) for your team (including supervisors and managers), with the ability for each user to further personalize their planners. Just set it, and you won’t forget it - because we do the rest!
Access to easy-to-use tools, such as automated tools to calculate important meeting/task deadlines (AMGs, budgets, owner’s meetings, etc.).
By registering with Stratastic (it’s free), you’re giving your team access to an exhaustive collection of resources, condo vendors, and tools that will help pave the path to success. Furthermore, you’re keeping your company on top of HR strategies and a plethora of condo-related materials that will help you understand and utilize all the key components required for successful business operations and property management.
Register yourself now, and then add your company and team (at no cost to you!)!
We can’t wait to join your work community!
-Stratastic Inc.
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Updated on April 13, 2024.
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