Blog: Posts

Military Veteran Offers Tips for Returning Veterans Looking to Land a Job in Multifamily Housing

Michelle Sherman — Tue, 22 May 2012 18:57:33 GMT

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This Memorial Day Weekend we commemorate the sacrifices made by those who have served in our armed forces. I can think of no better time to highlight the contributions veterans are making to our own industry and the ways in which they are ideally suited for careers in the apartment industry.

In a previous blog post, I talked about the opportunities our industry offers to veterans. That post generated a lot of conversation. One veteran we heard from was Jason Whittington, director of management operations for the Gene. B. Glick Company in Indianapolis.

Jason was in the U.S. Army for six years after college. After leaving the military, he realized he had a lot of leadership skills but no hard skills -- an issue many new veterans face. Fortunately, Jason found a job as a leasing consultant at the apartment community he and his wife had just moved in to. That was 10 years ago.

He said many people who serve in the military will need to learn hard skills after they leave military service. The civilian world just doesn’t have much demand for tank commanders (his role in the Army). However, the military does provide a solid foundation in leadership skills that can be easily transferred to the apartment industry. These skills include the ability to work well as a member of a team, an emphasis on accountability and a high level of focus on training -- all skills and qualities that are highly sought after in our industry.

“Multifamily is one of those industries where you can learn on the job, which is something you’re used to doing in the military,” he said. “As long as you stay true to what you learned in the military, you will succeed in the apartment industry.” He advises employers who are looking to hire a veteran that while they may not get someone with hard skills, they will get someone who is well-positioned to learn those hard skills and who can easily – and quickly -- step into a leadership position.

Jason started in an entry-level position, and he said that working his way up in the industry gave him an invaluable perspective, particularly after he moved into a management role. Veterans who are trying to land a job in the apartment industry should consider following the path taken by Jason and apply for an entry-level position in leasing or maintenance. It’s a great way to learn the industry from the inside out and to best position yourself to quickly advance up the career ladder.

For more information on careers in the apartment industry, please visit here.

Category: Personal Development & Training;Wild Card!

Published: 5/22/2012 2:54 PM

Byline: Maureen Lambe, CAE--National Apartment Association Education Institute

Abstract: This Memorial Day Weekend we commemorate the sacrifices made by those who have served in our armed forces. I can think of no better time to highlight the contributions veterans are making to our own industry and the ways in which they are ideally suited for careers in the apartment industry.

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The Role of Property Manager is Changing: Will You Move With it or Will You be Left Behind?

Michelle Sherman — Mon, 21 May 2012 19:04:30 GMT

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I recently had the tremendous pleasure of hearing real estate industry expert and visionary Christopher Lee speak at a conference about his new publication, “Transformational Leadership in the New Age of Real Estate”. Lee has a “Tell-it-Like-it-is” attitude that’s mirrored in his writing, and his document sets out the likely future of the real estate industry.

During this talk, Lee made several thought provoking observations, but one in particular stands out. He predicts that in the course of the next 10 years, our industry will face an exodus of founders, senior-level executives, and experienced professionals. Lee forecasts that by 2025 more than 65 percent of present senior leaders will have left their roles. He comments that the combination of retiring Boomers and lack of young and next generation talent (Gen Xers who aren’t ready and Gen Yers who are still learning) will result in a talent vacuum.

Surely we, the younger generation of real estate managers, don’t want to be categorized as generationally inept? I have no desire for my career and goals to be defined by a deficit among others in my generation. As a property management professional, the question to ask yourself is whether you are prepared to take that important next step. Becoming successful starts from within, by becoming the “CEO of your own career.”

As the CEO of our own careers we have more control over our professional development than we realize. Some managers will only consider promoting employees who proactively request a development and promotion plan. If an employee can’t demonstrate the drive to move their own career forward, what confidence can a manager have that they will lead others?

The role of property manager has undergone changes over the last business cycle, and these changes offer opportunities for us, as individuals to take ownership of our role. An increased emphasis has been placed on communications, and as a result, managers spend a large part of their time managing processes instead of resources. Instead of creating value from new and existing customer relationships, they’re devoting their time to collecting rents, preparing budgets and responding to enquiries from corporate offices.

As a result of this shift, managers are somewhat perceived as “an asset custodian.” Its strategic potential to create long-lasting resident relationships and grow resident satisfaction has diminished. However, the manager function is changing again, so that in the future it will focus more on adding value rather than managing processes.

It’s predicted that in the future, successful real estate companies will generate 50 percent or more of their income from selling knowledge, access to customer bases and non-asset services in a manner similar to the way they currently generate income from management fees. It’s becoming apparent that property managers must start thinking creatively and move away from a reactive reliance on passive revenue streams. Managers will need to seek out business opportunities for building customer and stakeholder relationships.

Lee describes a change in hiring practices from the traditional focus on previous employers towards demonstration of ability in competency, motivation and cultural fit. Research conducted by Lee’s organization identified the following qualities sought by best-in-class real estate firms when hiring new employees:

1.      Knowledge of the Business
2.      Multitasking Skills
3.      A Passion for the Business
4.      Leadership Skills
5.      Career Growth Potential
6.      Data Interpretations Skills

The industry has seen great change in recent years that is undeniably set to continue over the next 10 to 20 years. If we are to survive, our functions must change to meet these challenges and maximize the opportunities we identify.

Sources:

‘Transformational Leadership in the New Age of Real Estate’, by Christopher Lee. IREM Institute of Real Estate Management, 2012

Category: Operations;Personal Development & Training

Published: 5/21/2012 3:02 PM

Byline: Emily Goodman, CPM, ARM - Core Realty Holdings

Abstract: I recently had the tremendous pleasure of hearing real estate industry expert and visionary Christopher Lee speak at a conference about his new publication, “Transformational Leadership in the New Age of Real Estate”. Lee has a “Tell-it-Like-it-is” attitude that’s mirrored in his writing, and his document sets out the likely future of the real estate industry.

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Square Footage Was So Last Year

Lauren Boston — Thu, 17 May 2012 16:55:15 GMT

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The other day—a Friday night, to be exact—my roommate said she didn’t understand why we never met single guys.

“I really don’t get it,” I said to her, sitting on the couch in an oversized t-shirt, scrolling through the TV’s On Demand menu so I could watch Maria Menounos and Derek Hough’s rumba (for the third time) on “Dancing With the Stars.” “Hey, do you mind if I open a can of tuna?”

It had the makings of a “48 Hours” mystery.

Admittedly, I do spend a lot of time in my apartment. Often, I’m writing and reading, both of which seem like noble pursuits at any age—even if the books I get from the library are intended for 16-year-old girls. As for the rest of the time—when I’m watching ballroom-dancing competitions and searching for batteries for my Bop It and extracting all the sopapilla pieces from a gallon of limited edition cinnamon ice cream with the precision of brain surgeon—there’s no real excuse.

But I’m the exception, not the rule.

The majority of Gen Y renters are rarely in their apartments. According to many multifamily housing developers, these young renters prefer to spend their time socializing in a community clubhouse or out in the city. They’re hanging out in public spaces, eating at restaurants and coming home to sleep.

Thus, apartment square footage is no longer a priority.

When it comes to the kitchen, for example, some developers say that many Gen Y’ers require no more than a compact refrigerator and a two-burner cook top—more than adequate, I suppose, when preparing canned tuna.

Instead of designing enough space for a kitchen table, developers are favoring moveable islands that not only provide a place to maul a tub of ice cream, but a flexible dividing line of sorts between the kitchen and the rest of the apartment.

Bedrooms are also getting smaller. Many are now designed to flow into the rest of the apartment, with a panel divider or sliding, translucent door that provides privacy when needed and a sense of openness the rest of the time. These rooms have become a functional place to sleep rather than a space to hang out.

Although young renters are sacrificing square footage in most rooms and leasing studio apartments as small as 350 square feet, the one thing most developers say should never be downsized is closet space.

A small living room, kitchen and bedroom are no big deal, but every 25-year-old needs a place to store their Bop It.

For more on interior design and floor-plan trends, check out “Size Really Doesn’t Matter” in the June issue of units, which mails June 7.

Category: Marketing & Leasing;Consumer Expectations

Published: 5/17/2012 12:54 PM

Byline: Lauren Boston

Abstract: The other day—a Friday night, to be exact—my roommate said she didn’t understand why we never met single guys. “I really don’t get it,” I said to her, sitting on the couch in an oversized t-shirt, scrolling through the TV’s On Demand menu so I could watch Maria Menounos and Derek Hough’s rumba (for the third time) on “Dancing With the Stars.” “Hey, do you mind if I open a can of tuna?”

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