Should property managers invest in education?

Education | October 2, 2018
Brennan Hill

Property management companies around the country are vying for market share which has resulted in unprecedented growth. This has seen the emergence of much larger ‘super’ businesses than have traditionally been in existence and therefore a need for specialist team members to create and execute vision, strategy and action plans. Where the highest title previously attainable was Senior Property Manager, we’re now seeing Business Managers, Heads of Departments/Specialist Divisions and Operations Managers to name a few.

The main benefit to property managers is the opportunity for enhanced career development which was once not available. The industry as a whole is now catching on and providing the opportunity for continual up-skilling - a property manager can even undertake university level education if they choose to take their passion to the next level thereby creating long term, financially rewarding career paths.

...If you wish to take these key leadership positions within these companies in the future, then you need to get serious about your education...

We know that a business of scale is more profitable and therefore can be more competitive, however, by its nature also needs more people. We know that culture, systems and service levels can suffer without the right, well trained people on board. In the past, property managers have not been supported in undertaking anything other than legislative and processed based training, leading to a shortage of leadership and management skills. Therefore, this sudden shift in business models towards up-scaled property management companies has led to a need for these specialist managers to be recruited from outside the real estate industry.

photo-1413977886085-3bbbf9a7cf6e

If you wish to take these key leadership positions within these companies in the future, then you need to get serious about your education and consider making an investment into personal development which may include university education in order to gain the skills needed to be competitive.

It’s great to see some businesses recognising the need for investing in future leaders for their companies by skilling their workforce with specialist leadership training such as team building, cultural alignment and financial management. However, much more is needed to be done by each team member to take control for their own career. In my view, no longer is it acceptable to avoid attending training because you’re ‘too busy’. Too busy now will mean you’re overlooked by more qualified colleagues in the future. It’s an exciting time ahead for property managers and the best advice that can be given to those who truly want to have a lifetime career, is start investing in your education today, because there’s certainly a growing need for specialist skills. The opportunities are on the table and the best people will be highly valued and therefore financially rewarded - we don’t see this trend changing anytime soon.

Explore leading information and evolve your business