Of the 14 areas to include in every presentation—which financial reports/reporting will you be adding…as a result of our PowerHour Open-Mic today? From John…great to hear his take on the 5 most important ones?

Related to your list of vendors/suppliers…helpful to hear what to share and what to cloak—and not share, during a presentation?

About pre move-in and move-out inspections…lots to consider, yes?

As always—continue to guide those on your PM team with a focus on G.R.A.C.E. [Growing Revenue & Controlling Expenses]…have fun…and compete ferociously!

Your Coaches,
Ernest, and John

From our PowerHour Open-Mic today…helpful to review the ways to reduce your real estate taxes, insurance policy costs and repairs/maintenance with a focus on better NOI?

Looking at ancillary income and monthly income streams from Internet & cable, WiFi, water, gas and trash…what is the next step that you and your team are planning in each/all of these areas?

On a monthly basis…how you are communicating savings and better NOI with your property management clients?

As always—continue to guide those on your PM team with a focus on G.R.A.C.E. [Growing Revenue & Controlling Expenses]…have fun…and compete ferociously!

Your Coaches,
Ernest, Craig and John

What have you seen/learned from a recent bid or RFP on carpet or flooring?

When thinking about the company who provides your carpet or flooring…what matters most in your working/business relationship? What are you most focused on…when reviewing their pricing? Their service and responsiveness?

From the perspective of your residents, what have you learned about carpet and flooring installations, wear-and-tear, durability, and/or the need for replacement?

Related to carpet and flooring…what post, question and/or observation might you add to the discussion thread below—as a property management leader?

Industry Knowledge, Carpet & Flooring

===>>>Please click on the url below and make your post there***
http://www.linkedin.com/groupItem?view=&gid=36805&type=member&item=70961918&qid=4c48a41e-63e1-4ce8-102d5-7bbc755d3ac1&goback=%2Egna_36805

Come make a post, ask a question or share your insight on the discussion thread above…with 85+ posts already made~

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To the members of our 19 LinkedIn groups…we are the Wikipedia for the property management sector—and we are only as strong as the depth of our 70,000+ property management industry leaders who are sharing their ideas, insight and wisdom on these Industry Knowledge discussion threads.

For the Best 103 Property Management Industry Knowledge discussions, surf here:
http://www.powerhour.com/propertymanagement/linkedingroups.html#ik

===>>>The fastest way to raise your success within our LinkedIn group is to make a post on one of the discussion threads on the url above—that will be seen by 25,550,000+ property management leaders/readers/members over the next 365 days~

Find a discussion that interests you and make a post, ask a question, jump in and make a contribution. Come join 12,110+ property management leaders already posting to our Industry Knowledge discussion threads.

The more you give in your ideas, knowledge and smart-thinking…the more you will get/receive from other property management leaders in exchange.

To see the master list of all Industry Knowledge discussions within this LinkedIn group and all 19 of our property management LinkedIn groups for you to join, you will find them on the url below:
http://powerhour.com/propertymanagement/linkedingroups.html

Based on group size…we’re #202 of 1,732,590 worldwide LinkedIn groups with 70,000+ members who are part of our 19 LinkedIn groups.

Surf the url below for our CEO Series of free property management educational webcasts related to industry products, services and emerging trends & technology,
http://powerhour.com/propertymanagement/thoughtleadership.html

Your LinkedIn group owner/moderator
Patricia McLoughlin
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PowerHour, serving the property management sector & vendor/supplier sales industry since 1988, http://www.powerhour.com

Come join our weekly PowerHour Leadership Academy specifically focused on property management GRACE [Grow Revenue & Control Expenses], http://powerhourleadershipacademy.com/pm

{Article #209…since 1995} – Positive & Profitable Employee Reviews

Can employee reviews really be positive and profitable? You bet! How you and your company handle each employee review is a direct reflection of your leadership within your PM company.

Preparing for each review: Establish the frequency for your company employee reviews and be certain this is in your administrative guidelines and employee manual. Consider doing all reviews during two months of the year, for instance–November and May. Each of your managers should be given a blank copy of the review form required by your PM company and a list of their team members who are scheduled for a review.

Instruct your managers to prepare each review in a typed format, as this makes it easy to read and looks more professional when presented. Lastly, ask your managers to give you a copy of the final review notes, prior to it being formally presented. This gives you an opportunity to assess the quality of the work being done by your managers and a window for making any changes.

Tip From The Coach: In the same way you give a blank copy of the employee review form to your managers, give a blank copy of the review form to the person being reviewed. This will give your employees an opportunity to make notes about their performance, prior to each performance review. This step is critical because it allows each of your managers to “see” the gap between their point of view versus their employees’ point of view. This gap is exactly where the best coaching can be done to improve the performance of each person on your property management team.

Conducting each review: The review should start by having your manager explain how each person’s review is a special time for personal and professional growth and the tone for each review will be both positive and productive. Have your manager begin by reading out loud the first question, then read his/her comments about their employee. Next, their employee should read their comments out loud. After each person has read their response to the first question, then specific feedback should be given by your manager or supervisor, about how the comments are similar and a discussion about any comments that are different. This “gap” is the perfect place to build action items to be addressed between this review and the next one.

Tip From The Coach: This review format communicates mutual respect for each employee of your company, but it must go one step further. Since the feedback of each employee is important, and since you are requesting their feedback during each employee review, a salary increase must consider the comments from both your manager and your employee. This means a final decision about the size of each person’s salary increase should be given one or two days after the review is completed. If a salary increase is given at the close of each employee’s review, this says to your employee that their feedback was not important, as the salary increase had been pre-determined in advance.

Using the review for grooming and growth: So, the review is finished and the paperwork can now be placed in the employee’s file to gather dust for the next year, right? Not a chance! Have your manager end each employee review by recapping all the positive comments that were shared and have them summarize each action-step required for improvement/growth. These action steps should focus on the goals and objectives for the next period and must be in alignment with the goals of your PM company. Have your manager schedule a short meeting in 30 days, to review the progress being made for each action item, as this review will become an important part of each month’s conversation between your manager and his/her employee. Then continue to use this employee review monthly until the anniversary of the next formal review.

The Coach…and your LinkedIn group owner/moderator
Ernest Oriente
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What kind of training do you give your onsite teams about this topic?

Apartment Manager Ordered To Rescind Gun Ban
http://www.american-apartment-owners-association.org/blog/2013/08/15/apartment-manager-told-to-rescind-gun-ban/

On the other side of this issue, property owners have been held accountable for negligence when gun crime occurs on their properties. In some cities, a property owner can face fines and lose their rental license if their tenants/renters commit crimes. Thoughts on this side of the issue?

To learn more about this topic and to read the news, trends and ideas being shared by PM leaders—related to crime prevention and safety…join the discussion thread below~with 570+ posts.

Industry Knowledge, Crime Prevention & Security
http://www.linkedin.com/groupItem?view=&gid=36805&type=member&item=69668654&qid=1f421271-d6e1-4d60-be72-9f805404410d&goback=%2Egna_36805

The Coach…and your LinkedIn group owner/moderator
Ernest Oriente
==========

For the list of the Best 103 Property Management Industry Knowledge discussions with 12,110+ posts/comments already made, surf here: http://www.powerhour.com/propertymanagement/linkedingroups.html#ik

===>>>The fastest way to raise your success within our LinkedIn group is to make a post on one of the discussion threads on the url above—that will be seen by 25,550,000+ property management leaders/readers/members over the next 365 days~

Based on group size…we’re #202 of 1,732,590 worldwide LinkedIn groups with 70,000+ members who are part of our 19 LinkedIn groups.

Of the 13 most important areas to include in every presentation when meeting with new potential clients for your property management company—what action steps will you take focused on #1-4…that we covered today?

From our PowerHour Open-Mic today…helpful to discuss the importance of your USP and how this sets you apart from your direct property management competitors?

This week…remember to tie together your company story from your presentation with your LinkedIn summary section and your LinkedIn company page, ok?

Between now and Friday—at 5:00 p.m. please update your LinkedIn summary section and we will review it for you—as our gift.

As always—continue to guide those on your PM team with a focus on G.R.A.C.E. [Growing Revenue & Controlling Expenses]…have fun…and compete ferociously!

Your Coaches,
Ernest, Craig and John

Picture this…Captain Craig has invited you to spend a month sailing the Caribbean with all the lobster you can eat! Your captain has only one rule—“no telephone calls, no E-mail, no texts”. Will your properties run smoothly while you’re gone? Will your residents be well served in your absence? The information in this article, when put into practice, will reduce your stress, increase your business success, and give you the freedom (and vacation!) you so richly deserve.

Building a winning team: Trust each employee to do their job and be sure each team member feels they are a valuable part of your property management team. Set the example for positive interaction between members of your team at all times, even when ideas or performance must be corrected. Conversely, if you have current employees who are not performing well, consider whether they are a wise investment as your property management company is only as good as each individual’s contribution.

Tip From The Coach: Hire wisely when building your leasing and management team and never compromise your standards. Look for the three I’s: intelligence, initiative, and integrity when interviewing for each position, and only hire those who perfectly match [to learn more about pre-hire employee testing send an E-mail to ernest@powerhour.com] the profile of your property management company. When you find Superstar employees, reward them financially and make sure their pay is at market level or above. Lastly, take time to acknowledge each team member’s contribution, as the biggest loyalty builder is two simple words–thank you.

Working with your team: Know each team member’s job responsibilities and master them. This gives you a reserve employee and trainer (yourself), but has an added bonus. If you show your leasing staff and property supervisors you are willing to learn or have learned his/her job, you are communicating you believe their work has value. Every team member needs to know when they are emptying trash cans, making collection calls, or speaking with an unhappy resident, their work is worthwhile and significant.

Tip From The Coach: Establish a training schedule so each person on your team can learn to do at least two jobs, particularly with your computer software systems and for key resident services. For critical tasks, at least three people should know how to do each job. Once this training is finished, you will always have an on-site expert who can step in when needed.

Giving your best and encouraging the same: Pride in your property management company and its services always begins at the top and your leasing team and property supervisors will mirror your exact views and expectations. If you set an example of making the extra effort, pitching in when needed, caring about your team members, working as a unit to be the best in the property management business, and taking care of the bottom line, your property management team will follow suit.

Tip From The Coach:  Wherever possible, give your employees a stake in the future. Try scheduling a short monthly meeting and ask your team to make suggestions on how to improve their leasing product/services, their resident services, their property efficiencies, and your bottom line. Give monetary rewards when employee ideas produce increases to your profits and give positive encouragement for the process. Lastly, have fun along the way…a good laugh soothes even the toughest of days. Captain Craig, says “ready to set sail?”

The Coach…and your LinkedIn group owner/moderator
Ernest Oriente
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