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Why Millennials Make Awesome Property Managers

posted 17 May, 2018 by Julie Briggs
Business

As millennials make up an increasing percentage of the workforce, many are looking for exciting career paths that leverage their greatest strengths. As a generation known for innovation, flexibility, and collaboration, more are finding that property management jobs provide the stability and opportunities they desire, as older property managers leave the profession and new roles open up.

Who says luxury living is just for owners?

These days, property management companies are recruiting millennials in the hopes that this tech-savvy, problem-solving generation will boost the industry and provide new ways of doing things. While property management has been defined by more seasoned talent for a long time, there are many reasons why millennials may redefine how rental properties are managed. Here are just a few reasons why those age 20-37 may make some of the best property managers and should pursue it as a career.

They Understand the Market

With the sharing-economy and the on-demand economy being one of their defining contributions to business, millennials are a generation of renters who are putting off home ownership until later. Considering that many of them have student loans upwards of $29,000, many choose to rent apartments -- sometimes living with friends and roommates until they can afford a place of their own.

Additionally, larger numbers of millennials tend to pursue careers in urban areas than other generations, making them more likely to rent. Renters feel comfortable interacting with those who are like them and understand their lifestyle needs. This equips millennials to empathize with tenants and attract young renters to vibrant new developments.

They are Flexible Problem-Solvers

Millennials are a resourceful generation and tend to be quick to react to change. Coming of age during one of the most harrowing economic downturns has made them adaptable and able to do a lot with a little. When it comes to in-demand skills for property managers being an effective problem solver is one of the top ones. In fact, it’s one of the main parts of the job.

Relationship-management, mediating issues as they arise and acting quickly to fix issues make up a good deal of how property managers spend their working time. Millennials have a solution-oriented mentality that lends itself well to dealing with people and finding reaching a resolution swiftly with lasting results. Having a positive attitude and not allowing little hiccups to get them down also helps them to be resilient and proactive on the job, making them a valuable asset to their colleagues and tenants.

Tech is a millennial property manager's best tool.

They Use Tech Effectively

Technology isn’t just changing, but rather is completely overhauling how properties are managed. So who better to lead this revolution than the generation who grew up with technology from an early age and have integrated it seamlessly into their own lives? As opposed to years past, property management is going paperless and even moving to the cloud. These days, property managers are always on the go, meaning that they depend on their smartphones and tablets to keep them connected to residents and office renters and aware of what’s happening at all times.

Advertising properties is another responsibility that millennials are uniquely qualified to do -- with many options to even use their own social networks to promote open rentals and new building openings. With their tech-savvy mindset, millennials are often able to easily pivot from dealing with tenants to managing the online presence of a property across various channels.

Want to be the best property manager in your city? Offering Spiffy as an office or residential amenity is a zero-cost way to make tenants smile. Find out how you can become a Spiffy Partner today!

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Posted in Business

Written by Julie Briggs

Cat mom and skeeball enthusiast based in New York, NY.