MANAGEMENT leadership books . One of the most notable , The 7 Habits of Highly Effective People , written by Stephen R . Covey .
In Covey ’ s book , he calls it The Emotional Bank Account , but I assure you it is the same idea as Every Little Thing Counts . An Emotional Bank Account is a metaphor that describes the amount of trust that has been built up in a relationship . It is the feeling of safeness you have with another human being . Covey listed six major deposits in his book that build the Emotional Bank Account : Understanding the Individual , Attending to the Little Things , Keeping Commitments , Clarifying Expectations , Showing Personal Integrity , and Apologizing Sincerely When You Make a Withdrawal .
If I make deposits into an Emotional Bank Account with you through courtesy , kindness , honesty , and keeping my commitments to you , I build up a reserve . Your trust toward me becomes higher , and I can call upon that trust many times if I need to . But if I have a habit of showing discourtesy , disrespect , cutting you off , overacting , betraying your trust , ignoring you , or thinking I am simply better and know more than you , eventually my Emotional Bank Account will be overdrawn . Simply put , the more positive coins you put into someone ’ s Emotional Bank Account versus negative ones , the stronger and more enjoyable the relationship will be . It is a concept that works , especially with residents at our apartment communities .
The brutal fact of property management is that something can and will go wrong . Let us face it , major inconveniences happen so often on our apartment communities that affect our residents daily . Crime , floods , neighbor issues , packages being missing , rent increases , cars getting towed , and so many other things . Most of the time these things are out of our control , but sometimes , we just screwed up and need to make it right . The theory is , the more positive coins we put into the bank through time , the more likely the relationship can be saved if something does go wrong . This is something we can all start today , putting positive coins into the Emotional Bank Account for our residents . Here are six easy ways :
1 . Greet and acknowledge every resident , every time you see them . This is a small deposit , but easy to build up over 12 months . This applies to everyone on your team too , as the Emotional Bank Account balance is accumulative of all our team , not just the individual person talking to the resident during an issue .
" Simply put , the more positive coins you put into someone ’ s Emotional Bank Account versus negative ones , the stronger and more enjoyable the relationship will be "
2 . Truthfully put yourself in your resident ’ s shoes when an issue arises . Let them discuss the issue , listen to understand vs . replying , ask them what they think could help resolve the issue , reiterate what the issue is and what the plan is to fix it , and follow-up to ensure they are satisfied .
3 . Exercise the Golden Rule and treat others as you want to be treated . Treat every resident like how you would want your grandmother to be treated . Sometimes , she is in a great mood and sometimes she is not in the mood for anything . Either way , you treat her with care , dignity , respect , with a great attitude , and have a genuine concern for her well-being . Do that for all your residents , even when they are not in the best mood .
4 . Little Things Actually Count . Remember something a resident told you and ask how it went later ; give birthday cards to every resident ; follow-up after service requests to ensure they are satisfied ; give a movein orientation before their move-in day ; remember pet ’ s names and spoil them with treats ; consistently communicate about upcoming projects and events ; and assist in ensuring the entire community is spotless and trash-free
5 . If you say it , do it . No matter how big or small , if you tell a resident you are going to do something and do not , they remember you dropped the ball . That is the quickest way to get a negative balance going . Strive for same-day service for any issue and do not make the resident ask more than once for anything .
6 . Never underestimate how far a genuine “ I ’ m sorry ” goes when things go wrong . Even if it is not your fault , people want you to care and show empathy . Start off emails and conversations with the reassurance that you are sorry they are going through their issue , that you will collaborate with them to resolve it , and follow-up to ensure the issue has been resolved .
The level of service you give is truly the only differentiating factor you have versus the competition . You and your team are your best amenity . And like any amenity , it can always be improved . Start building your Emotional Bank Account balances with your residents today and watch your NOI grow , your on-line reputation improve , retention rates will increase , employee satisfaction will sky-rocket , your community will be successful , and work will be more fun . The Coyotes , Janus , and Stephen R . Covey will always be there if you need a reminder of how to make Every Little Thing Count .
Bob Donahue is Community Manager at AMLI Denargo Market www . aamdhq . org MARCH 2023 TRENDS | 23