The single biggest challenge facing property managers in 2024 is dealing with aggressive or abusive tenants and residents, according to a new study from the National Apartment Association (NAA).
The “Voice of the Property Manager” NAA Research, sponsored by MRI Software, surveyed nearly 1,000 industry professionals from July 9–22. The analysis in this report represents the voices of more than 850 property managers and regional managers across the United States, a majority of whom are women.
“The most frequently cited challenges in 2024 were dealing with aggressive and abusive residents (22%) and the inability to disconnect after hours (16%). These findings indicate that confrontational interactions and the struggle to separate work from personal time are major stressors for property-management staff, potentially contributing to mental-health concerns,” the report says.
Other challenges relate to maintaining staffing levels (14%) and managing workload (13%). There were also concerns about employee retention and reinforcing the ongoing battle to balance workloads within the industry.
“Other issues such as dealing with residents at risk of eviction, inadequate communication and support from upper management, managing staff, keeping up with legislative changes and addressing fraud were cited less frequently, but still affect a notable portion of the workforce,” the report says.
Who responded to the survey?
Of those professionals surveyed, 32% were between the ages of 35-44, while another 29% were in the 45-54-year-old age group. Nearly half of respondents worked for owner/operators and 88% indicated that their companies owned or managed conventional multifamily properties. Just over half of those companies managed fewer than 5,000 units, while nearly one in five operated more than 30,000 units.
“Overall, property managers are happy in their jobs, particularly with their co-workers and with the flexibility offered to them. A slight majority have been in their current positions for more than seven years, while 22% have tenure of two years or fewer,” the report says.
About 60% feel they have the training they need to do their jobs. Nearly three-fourths expect to be in the industry three years from now, which appears to be at odds with some 39% not recommending a career in property management to their friend or colleague. See more detail on this in the full report linked at the bottom of this article.
Conclusion: Transparency And Technology
“While owners and operators should be encouraged by this year’s “Voice of the Property Manager” survey results, there is certainly room for improvement in providing a work environment that will not only retain existing employees, but create more promoters of the industry, potentially helping with recruiting efforts as well.
“Managing workloads, maintaining proper staffing levels and providing tools and resources that help property managers do their jobs more effectively will go a long way in improving work-life balance,” the report says.
When it comes to technology, transparency is important as “open communications, and change management will be key as the industry continues to embrace technology, which stands to disrupt operations, roles and responsibilities all while remaining a people-first business.”
