Common Challenges
The Cycle of Perpetual Understaffing
Role Gaps
Drop-Down: The regional manager temporarily assumes the property manager’s responsibilities
Pull-Up: The assistant manager steps into the property manager’s role
Double-Up: Another property manager takes on responsibilities
Team Expansion
If one million units were added to the US supply between 2022-2024, 4,000 new property managers would be needed to manage them. To exacerbate the issue, they would be needed in markets that are heavily saturated and where the job just got harder. So many of these new managers entered the industry during an era when the work looked very different.
Where there are 4,000 new property managers, there would also need to be approximately 800 regional managers and 150 or more vice presidents of operations. Where would these people come from? It had already been difficult to fill these roles in 2013.
Creating Change
Accessible Knowledge
If you were a new hire in the industry which would you pick?
1,000 pages of SOPs with overlapping policy and strategy;
50 pages of SOPs and an expectation to improvise;
A digital library organized by playbook with a search function to source information quickly.
