What are the challenges facing property managers? A new report from the National Apartment Association captures the voices of nearly 1,000 multifamily property managers.
The report opens with good news: 83% of respondents enjoy working at their place of employment, and 74% feel secure in their roles.
Although some frustrations exist with salary (25%), technology usage (17%), and management support (17%), most property managers are generally satisfied in these areas.
Time pressures common
Despite high satisfaction overall, property managers still reported some downsides to their chosen career. Nearly half of those surveyed (47%) described their workload as "on the busy side." Another 24% noted their workload is "up and down.”
While over half of respondents said they maintain a good work-life balance, 34% reported they struggle to achieve it. Health concerns are also rising, with 59% saying the job affects their physical well-being, and 79% reporting it impacts their mental health – a 4% increase from the last report in 2022.
The main challenges contributing to this trend haven’t changed much since then. Dealing with aggressive and abusive tenants topped the list at 22%, followed by the inability to disconnect after work (16.3%), staffing shortages (14.3%), and managing heavy workloads (13%).
While the demands of the job are undeniable, there’s a silver lining: most property managers still see a bright future in the industry. Seventy-four percent plan to stay in property management for at least the next three years, and 60% are eager to grow and advance in their careers.
With the help of automation tools like PayProp, property management firms can reclaim valuable time for their employees by cutting out repetitive tasks and limiting tricky tenant interactions, allowing them to take charge of their workload and focus on growing professionally.
More property management industry headlines
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Applicant verifications continue to pose challenges for property managers – Multifamily Executive
