MANAGEMENT
First , identify the right “ who ” to be your resident manager before you worry too much about the “ how ” of what it is you want them doing . I recommend offering the on-site managerial responsibilities to all your residents in the building , to adhere to Fair Housing guidelines , and to also garner proactive interest from the residents who it appeals to . The Resident Manager position is a job , and just as with any other job , the candidate must want to do it and be engaged to succeed .
You may choose to conduct an interview process and screen for who you feel will be the best fit . This process will also allow you to clearly delineate between typical tenancy vs . resident manager responsibilities . You should speak to an attorney about compensating this resident manager , how to go about that , and who the resident manager will be employed by . Usually , resident managers are compensated a couple hundred dollars per month , depending on their scope of responsibility , but be thoughtful about how you pay that money out , who pays them , the party responsible for their employment , and so forth .
Once you have identified the “ who ,” create a checklist for them . As with any other role , for an employee to be successful , they need clear expectations . A clear list of duties , responsibilities , and the cadences of those responsibilities is crucial . First , your resident manager will appreciate having this list , and even perhaps training on how to complete certain duties . For example , perhaps you are asking the resident manager to “ water the flower beds at your 20-unit building .” If you do not define how much to water them and how often , you can more than likely expect dead flowers due to vague directions . Moreover , creating the checklist provides for objective , cut and dry expectations to measure against . Should your expectations not be met , you have a clear checklist you can reference if you need to make a change , and that resident manager cannot cite that you were not specific enough with them . In other words , it helps cover your bases a little bit , too , in the case the resident manager is not executing on what you have asked from them .
Finally , build a meaningful relationship with frequent contact . Talk to them over the phone weekly , commend them for work well done , and pass along complements to them from other residents . Typically , resident managers are attracted to the responsibilities of the role not only for income , but also because they care about where they live and they want it to be safe , clean , and enjoyable ; your building is home for them , too , remember . When their neighbors recognize and respect their efforts , it may mean more to them than any monetary compensation in the first place . Also , by speaking with your resident manager frequently , they will inevitably report more and mention more in terms of events at the property . As an operator or manager , half the battle is just knowing what is happening at your buildings so you can actually make decisions . The more you speak with your resident manager , the more you will continue to yield the “ eyes and ears ” benefit of having them there .
A resident manager without a welldefined role , who you don ’ t interact with frequently , may not be very valuable to your building . However , when approached intentionally and with a framework of what you hope to get from the position , they can serve as a silver bullet in the curb appeal and day-to-day care of scattered site assets .
Ben Lauer is the CEO at Deerwoods Real Estate Management LLC www . aamdhq . org AUGUST 2024 TRENDS | 15