7 Property Management Pitfalls to Avoid
- Feb 08, 2019
Property management is tough. Every day can feel like shooting at a moving target, that is invisible, and may decide to shoot back at you at any movement. Proper preparation can take the sting out of your daily grind and propel your business to success!
Below are seven common property management pitfalls with suggestions on how to fix them.
- Horrid High Turnover Whether it’s residents or staff, high turnover is a bad sign.
Jen Piccotti of multifamily housing consultant group Manag Inc., defined high resident turnover as anything over the national annual average of about 50 percent. High staff turnover exceeds the national average of 32 percent per year. When your numbers hover near the national averages or higher, it’s time to regroup.