Property Management vs Wile E. Coyote (Super Genius)

Wile E Coyote

What was the one continuous mistake that Mr. Coyote made time and time again?  For one, getting all caught up in his own ” super genius.”  Second, losing site of the goal of catching the bird.  Mr. Coyote was so involved in the creation of his ever-more-complicated “bird trap” that the objective was all too often left to last, bringing with it his demise.  How do we make sure not to get ahead of ourselves as property managers?  Here are a few ideas.

“Brilliance. That’s all I can say. Sheer, unadulterated brilliance!”

Yes, we are all oh, so smart.  Well trained, hardened by experience and battle scars.  Yet isn’t it true that pride always proceeds a great fall?  As life learners and full-time professionals, we know there is always more to learn, and that age is no barrier.  Who doesn’t look around for a teenager when they have a question about a smartphone?

“The Future is so bright I’ve gotta wear sunglasses even at nigh.t”

As the uptick in the economy takes root, new business will present itself (assuming you are in pursuit of new business- it never just shows up on your doorstep).  Make sure that your capacity to perform is real and not a come on.  It’s too easy to say yes to everything that a new customer request,s but once that contract is in place, performance is mandatory.

So if staffing up is a necessity to take on new business (with the chicken/egg syndrome in full play; do we hire to gain new business or gain new business to hire) build in some lead time for finding then training new personnel.  It is unrealistic to think a person brand new to your organization can hit the ground running AND learn more than a little about your corporate culture all in their first week.   Be realistic.

If we are smart, I mean really smart, then our corporate culture will be reflected in all of our people, from well-trained leasing staff to timely delivery of owner reports.  The thing is, even a well-oiled machine requires routine maintenance.

Education, education, education.  Continuous education.  Just like the consumer electronics show, our industry presents new ideas and new ways to do business every year through local, regional, and national industry conferences.  Granted, you likely can’t send everyone.  But send someone!  Rotate.

Charge the person attending with making a presentation to staff upon their return with new ideas on best practices and at least one new idea that can be implemented right away.

Mr. Coyote always thought he was the smartest one in the room.  That’s because there was never anyone else in the room to compare himself.   Get in the room with others in our space.  Take off your sunglasses and create some synergy.  Everybody wins, including your entire property management company, staff, and clients.

John Wilhoit is the author of the best selling book on rent roll analysis: How to Read and Rent Roll. See also the companion guide to measuring the quality of rental income: Rent Roll Triangle.  Find JW’s Podcast here.

Add Comment