A new survey by the National Apartment Association (NAA) shows the top seven challenges facing rental housing property managers today, with the No. 1 challenge – not unlike many other businesses – being recruitment, staffing, and human resources issues.
Property management professionals were asked to select the topics that are most challenging right now, and 74 percent answered with issues surrounding hiring and staff.
That’s not surprising, said Paula Munger, assistant vice president of industry research and analysis for the NAA.
“If you were on another planet and dropped in right now and missed the pandemic, you would look at this report and say, ‘Wow, something weird must have happened last year,’ because you can really see the effects of the pandemic in a lot of the responses and in a lot of their issues. Every industry right now, every single one, is having issues with the labor market. So, you know about the great resignation. There’s near-record amount of jobs available. People are quitting, they’re feeling empowered to do other things,” she said.
Munger said the data shows that in big companies with more than 20,000 units, more than 80 percent cited human resources as their top challenge. She said it’s a mind-boggling number “that really blew me away.”
Suraj Shrestha is an associate at Harborside Partners. He has been taking the lead role on research projects; to develop and implement online marketing strategies for search engine optimization and social media marketing. He is one of the core parts for helping to grow business revenue and the company’s online presence.