I remember my first job in property management. It was a leasing role with a boutique agency in Brisbane. I had no idea what the job entailed, however, like many reading this blog, I worked hard and learned quickly on the job. I’ve spoken to many others who also ‘fell’ into property management and now genuinely enjoy what they do. I wanted to turn property management into a career, but what was the career path? No one had really defined one.
We call the skills we learn in property management, competencies. The greater the competencies we learn, the greater the skills we have. There are many roles in property management and all have a different level of skill. Leasing, reception and junior property manager roles are generally considered to be entry-level roles. Property manager, business developer and administration are considered mid-level roles, where most of the heavy lifting is done. At the top of the tier are the experienced property managers, team leaders, growth leaders, and business managers. At a higher level, these people have defined and developed competencies outside of property management. These include leadership and mentoring, motivating peers, troubleshooting, risk management and client services.
Each member of the team must be empowered to build and drive their career. In regular 1-on-1’s with your leader, you should be assessing the competencies you have completed and are proficient in, and those you should be working on over the next period of time, to build out the competencies for your current role. Once you‘ve done this, you’re ready to start working on competencies for the next role in your career path. This process is your career development, ensuring you and your manager are constantly focusing on your career path.
LPMA’s CEO, Ben White, has published a series of property management books, including one called Building Blocks. Building Blocks defines the property management organizational chart, but more importantly, it defines the different roles in property management and the competencies that make up each. Read the PDF of the property management career workbook here. There are three other career workbooks for each team in the property management organizational chart - the Leadership, Administration, and Business Development teams.
While this book takes the hard work out of defining and measuring a career plan, it’s by no means the only way to plan your career. Each individual business have a different set of competencies and roles that pave the road for your career. I would encourage you to document and plan the building blocks for your career path.This path will be key to a successful and enjoyable property management career.