How COVID is changing onsite management

The coronavirus pandemic has forced property managers to give their all
How hardworking employees are adding value to multifamily investments
 
When COVID-19 hit the States a year ago, healthcare workers and grocery store employees weren’t the only people whose worlds were turned upside down. Seemingly overnight, residential property managers found themselves taking on a new strategic role.
 
Besides the usual property maintenance, rent collection, and conflict resolution, our managers stepped up in a big way. They didn’t just take care of properties. They served as community psychologists, helping ease residents’ and workers’ pandemic worries during those early months. Even before we understood the impact of the virus, managers worked their magic to keep investors’ assets up, running, and in the green.
 
 
The new ‘curators of community’
 
The reality is that today’s property managers—whether by choice, pressure, or demand—are going the extra mile. As the pandemic continues to distress our communities a year later, property caretakers are learning to lead competitively. Instead of simply preserving an asset’s value, they are expected to create new opportunities for growth.
 
Clearly, the manager’s role is crucial in the eyes of owners and investors.
 
“They are responsible for millions of dollars of assets for owners, and, during the virus, the owners are micromanaging everybody, and that generates more reports and more stress on the site team,” says Diana Pittro, executive VP at RMK Management. “But the thing that hurts them the most is the fine line they’re walking when dealing with the human factor. You’re talking to a resident going through something so personal and traumatic, and you’re not a relative. You’re a stranger.”
 
It’s important for owners to acknowledge the unique burdens that have been placed on property managers. Many are dealing with tenants who are struggling to pay their bills and are worried about losing their homes. They’re expected to answer questions about health, safety, and sanitation—topics most are ill-prepared to speak on. And amidst these concerns, site managers are also trying to social distance. It’s a nearly impossible task when tenants and workers depend on you for ongoing guidance.
 
“[Staff are] managing stressed and anxious residents who aren’t used to being home 24/7 and may be unemployed, ill, or frustrated,” writes Robyn Friedman of Multi-Housing News. “That’s creating undue stress on frontline workers who lack training in the psychological and social-work skills they’re now required to use.”
 
This effect has compelled property managers to focus not solely on avoiding vacancies. All of a sudden, their duties include comforting and calming staff who are scared for their own safety. Workers are also frustrated with uncooperative tenants, nonpayment issues, and other onsite conflicts.
 
Companies are finally becoming aware of the full scope of these struggles. In turn, owners have amped up their incentives, rewarding loyal employees with bonuses, gift cards, paid time off, free lunches, and other perks. In the age of COVID, a few small encouragements go a long way.
 
 
Rewarding pandemic performance
 
As we approach the one-year anniversary of the coronavirus crisis, Everest gives a huge shoutout to the hardworking people who helped keep assets afloat in 2020.
 
Here are some ways owners and investors can acknowledge their employees’ diligence and care. We’re always looking for new ideas for awards and incentives programs. Consider these motivators optimized for the complexities of today’s pandemic world.
 
 
3 Ways to Reward Your Site Management Teams
 
1. Provide virtual entertainment
 
Taking a cue from corporate America, building owners are rewarding their top staff with fun activities and group entertainment. The goal is to relax, unwind, indulge, and escape the stresses of work. With a COVID twist, of course.
 
“We have a offered a few different events—virtual yoga or other events that help employees disconnect, such as a virtual comedy show,” says Keri Walker Pfeifer of Bozzuto. “It’s one way for teams to forget about everything else that’s happening.”
 
Other ideas including virtual painting nights and cooking classes. Group events are great for team-building and still serve as amazing worker incentives.
 
 
2. Start a staff assistance program
 
Though their work performance may be stellar, site managers may still be struggling at home. Across the country, children remain out of school, and spouses may have recently lost their jobs or are forced to stay home for childcare. Some staff members may also be facing health complications or the devastating loss of a loved one.
 
Grateful employees are helping their star assets in a number of ways. Consider providing workers with virtual medical care, therapy sessions, childcare coordination services, or wellness challenges, many of which are 100% free.
 
 
3. Encourage healthy communication
 
Pandemic or not, experts say good communication is the ultimate morale booster. Employers who regularly talk with staff, encourage their achievements, and support them through challenges see far greater results than those who remain silent.
 
The key is to provide a listening ear without making managers feel like they are under constant surveillance.
 
“You don’t want to over-communicate and cause panic,” warns Stephanie Anderson of National Apartment Association. “But companies should allow team members to know that they understand what they’re going through. On-site teams just want to feel valued and supported.”
 
 
Everest says: great property managers are always essential