5 Biggest Challenges that Property Managers Face in 2012-13

Property Manager Challenges – This is a 3 part series of a study Home Painters Toronto participated in on behalf of property managers and their challenges they face in 2012-13.   Part I was about the dangerous trends that property managers face.  Part II deals with their top 5 challenges they face in the 2012-13 upcoming years.

5-Biggest-Challenges-that-Property-Managers-Face-in-2012-13

Property Manager Challenges

i. Challenge 1 – Costs of products and services have been going up up and up. 

(1)Owners trying to keep costs down and find more ways to cut their expenses

(2)Renters not wanting to spend any money on upkeep of their property.  This makes it harder for the property managers to find cost effective ways to manage and keep the properties looking nice for current tenants and potential renters.

ii. Challenge 2 – Marketing yourself is significantly more different now than it was 20 years ago with the emergence of the internet

(1)Local newspaper ads are no longer enough.  You now need a website, a strong online presence, and affiliations with different property manager websites.

iii.  Challenge 3 – Complaining is easier than ever before and Online reputation is crucial for your success.

(1)People can now complain with the internet and online forums, no accountability with these complaints also which makes it easier for tenants to complain

iv.  Challenge 4 – Lawsuits and Liability issues have been skyrocketing

Complaints, insurance issues, mold issues, wsib etc

 v. Challenge 5 – Time Management – Lack of Time

**There is less time in the day to take care of business; property managers surveyed in 2009 stated that “lack of time in the work day is there #1 pet peeve”

(1)Lack of time is the #1 cause of anxiety

(2)Technology has made us more efficient as a society, but its also made us more stressful also (cellphones, answering emails, etc)

Join us in part 3 of this series where we study the solutions and action steps we can take to overcome these property manager challenges.

From The Owner & Founder

BRIAN YOUNG

Hello and welcome!

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Since 1987 when I was at York University simply earning my way through school, I’ve had the privilege to meet and work with thousands of amazing homeowners like yourself.

Besides the birth of my daughter, there is nothing more satisfying than seeing a homeowner’s life change when we have transformed their dream home into a masterpiece. For that reason, we take our jobs very seriously and are committed to our cause.

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I look forward to hopefully meeting you one day, as it brings me tremendous joy to make homeowner’s dreams come true.

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