Apartment Marketing
Opportunity and Recognition: The Pillars of Success in Multifamily
Photo by Clark Tibbs on Unsplash
Recognizing and crediting your team’s efforts in the multifamily space isn’t just good manners; it’s the foundation of sustainable growth. Drawing inspiration from Napoleon Hill’s profound insight (one of my all-time favorite authors), we will unpack the pivotal role of acknowledgment in fostering a thriving, cooperative culture. Learn how to build bridges within your team and unlock unprecedented success in your property management endeavors.
Leaders often overlook the need to recognize and appreciate their teams’ efforts. This lack of recognition dampens morale and inhibits creativity, collaboration, and a sense of ownership. The absence of appreciation causes a disconnect among team members, undermining the very fabric of what could be a highly productive, engaged, and passionate workforce.
The key to conquering this challenge lies in understanding and intentionally creating a culture of recognition. We must never avoid giving credit where it’s due, acknowledging even small achievements (small stuff is key). Acknowledging the contributions of team members leads to a more cohesive and motivated group, eager to contribute further to shared goals.
One key is fostering a culture where acknowledgment is consistent, genuine, and tied to specific actions or outcomes. By connecting praise with tangible accomplishments, team members can see their direct impact on the organization’s success.
Another key is that leaders can implement mechanisms to celebrate individual and team successes. Regular team meetings or casual get-togethers where accomplishments are highlighted can profoundly affect morale and collaboration.
A final key is an open-door policy where feedback and appreciation flow freely and promote a culture of transparency and trust. This approach ensures everyone feels valued and engaged, propelling the team towards greater heights in the multifamily property management industry.
What We Attend To Controls Our Behavior
Photo by Husna Miskandar on Unsplash
The statement “what we attend to controls our behavior” underscores the influential role of attention in shaping our actions, decisions, and even our identity. In an era replete with stimuli – from buzzing smartphones to ubiquitous advertisements – it’s more crucial than ever to understand how the direction of our attention impacts our behavior. It brings to mind Viktor Frankl’s famous quote, “Between stimulus and response, there is a space. In that space is our power to choose our response. In our response lies our growth and our freedom.”
Let’s dig into the deeper meaning of the statement and Mr. Frankl’s quote.
1. The Neuroscience of Attention
To appreciate the statement, beginning at the neurological level is vital. The brain is a processing powerhouse, constantly inundated with information from our surroundings. However, it cannot process all the stimuli in our environment equally. Attention serves as a spotlight, highlighting certain information for deeper processing while relegating others to the background. The prefrontal cortex, often regarded as the command center, is pivotal in guiding this spotlight. Once a particular stimulus is given prominence through attention, it becomes integrated into our thought processes, emotions, and decision-making mechanisms. By choosing where to focus, we determine which inputs will influence our subsequent behaviors. Choose wisely. Be intentional.
2. Habit Formation and Reinforcement
What we repeatedly attend to can become a habitual pattern. For instance, if individuals consistently pay attention to negative news, they might develop a pessimistic worldview over time. This pattern, once entrenched, drives behaviors aligned with that mindset, such as avoiding new experiences or constantly expecting the worst outcomes. The brain’s reward system reinforces such behavioral outcomes. Dopamine, a neurotransmitter linked with pleasure and reward, strengthens neural pathways associated with habits. Thus, the more we attend to certain stimuli, the more our brain reinforces the behavior associated with it.
3. The Role of Modern Technology
Understanding the link between attention and behavior is even more pertinent in the digital age. Technology companies often employ attention engineers who utilize principles from psychology to design apps and platforms that captivate users. Think: The Social Dilemma. By understanding what draws our attention, these platforms can guide our behavior, sometimes leading us to spend hours scrolling through feeds or watching videos. This impacts how we allocate our time and shapes our beliefs, values, and perceptions, as the content we attend to can influence our worldview.
4. Emotional Regulation and Focus
Emotions play a profound role in guiding behavior. The stimuli we attend to can dictate our emotional responses. Focusing on the challenges and setbacks they encounter makes them more likely to experience feelings of frustration, sadness, or anxiety. Conversely, directing attention towards positive aspects, such as achievements or moments of joy, fosters positive emotions. Over time, this pattern of attention can influence behavior, promoting resilience and a proactive attitude in the face of adversity.
5. The Power of Mindfulness
Recognizing the nexus between attention and behavior has also led to the popularizing of practices like mindfulness. Mindfulness teaches individuals to control their attention, anchoring it to the present moment. By consciously directing focus, one can break free from detrimental cycles of behavior. For instance, someone struggling with anxiety might learn to shift their attention away from ruminative thoughts, leading to better emotional regulation and healthier behavioral responses.
6. Implications for Personal Development
At a personal level, understanding that “what we attend to controls our behavior” can be empowering. It suggests that curating the content and experiences we focus on can drive positive change in our lives. Whether engaging with uplifting content, seeking environments that promote growth, or practicing techniques to guide our attention, there’s a wealth of opportunity to harness this principle for personal development.
To sum this up, the adage “what we attend to controls our behavior” encapsulates a profound truth about the human experience. Our attention is a filter, shaping our perceptions, emotions, and decisions. In the present day, with its plethora of distractions, it’s essential to recognize the potency of our focus and strive to direct it wisely. Only then can we ensure that our behaviors align with our aspirations and values.
Beyond the Surface: Going Deep in Multifamily Property Management
Embracing Depth over Width: Strategic Insight for Property Management Leaders
Photo by Robert Bye on Unsplash
Today’s piece is brought to you by Updater. Updater is the app that gets residents move-in ready faster. Did you know that residents happy with their move-in experience are 59% more likely to renew their lease? Move-ins matter. Get them right with Updater. Visit go.updater.com/mike, and as a special gift to our listeners, Updater offers a special gift when you book a demo.
Steven Pressfield once remarked, “The disease of our times is that we live on the surface. We’re like the Platte River, a mile wide and an inch deep.” It’s a thought-provoking statement that also applies to multifamily management. Many organizations often spread themselves too thin, focusing on the width of their operations rather than the depth. Today we explore the inherent problems with this approach and outline innovative solutions to bring depth, focus, and quality into multifamily property management.
The analogy of being like the Platte River – wide but shallow – applies pertinently to some multifamily management practices. With an overemphasis on growth and expansion, the true essence of quality service, insightful leadership, and customer satisfaction can be overlooked. Leaders and executives may be entrenched in endless tasks without creating meaningful relationships with residents or understanding the industry’s underlying dynamics.
How do We Avoid Falling Into This Trap
Focusing on Core Competencies – By concentrating on areas of genuine expertise and letting go of the superficial, leaders can create robust, more fulfilling relationships with clients and staff alike. It’s easy to get caught up in the new and shiny when the tried and true works best.
Investing in Employee Growth and Development – Developing the team’s potential through continuous learning and personalized career pathways ensures a knowledgeable and committed workforce, adding depth to the organization. Make work meaningful to team members.
Building Meaningful Relationships with Residents – Taking time to understand and connect with residents personally fosters loyalty and trust, leading to a stronger community and a better overall experience. Also, create collision points in your community where people can meet their neighbors.
Embracing Technology with Purpose – Using technology to deepen relationships and streamline operations, not merely as a flashy add-on, profoundly impacts efficiency and effectiveness. Best smart about Technology.
Strategic Growth Planning – Moving away from an unchecked expansion to focused and deliberate growth ensures that the quality of service does not suffer and the organization’s integrity remains intact.
Jude Chiy | Collective Conversations
In this episode, Mike Brewer chats with Jude Chiy, Founder of Flamingo, an app created to enhance and optimize resident engagement and build a sense of community. Jude shares his journey from med school student to the Founder of Flamingo. Mike and Jude explore the benefits of executing simple and frequent resident touch points and the connection to higher resident satisfaction scores.
Key Discussion Points:
- The meaning of Flamingo: In a world where competitors all look very similar, Jude believes that building a sense of community with management and residents, and between resident neighbors helps a property stand out “like a flamingo in a flock of pigeons”. The Flamingo app helps residents navigate the many questions related to life in the community and discover new events and people thus building a true sense of neighborhood.
- The Value of Resident Input: Instead of solving problems at the senior level of the management team, inviting residents into the issue by sharing it and inviting their comments on solutions further enhances the feeling that resident input matters.
- The Superpower of AI: There are scores of data points and it is impossible to read through it all and make sense of it. Flamingo uses AI to read all the data and quantify it which makes it easy to understand. The system sends surveys when a resident interacts with a team member, uses an amenity, submits a service request, etc. It tracks the time to resolve, the frequency of resident communication, etc., and provides recommendations to correct the areas of concern.
Throughout the conversation, Mike and Jude share practical tips and advice based on the topics covered in the episode.
Whether you’re a seasoned investor, property manager, vendor/supplier, or someone interested in learning more about the multifamily market, this series offers valuable insights that can help you navigate the challenges and seize the opportunities in this dynamic industry.
About Mike Brewer
Mike Brewer is enthusiastic about people, technology, and the world of multifamily. He serves as President of RADCO Residential and COO of The RADCO Companies. As the Founder of Multifamily Collective, Mike draws on his deep understanding of the multifamily space and is passionate about sharing insights and wisdom through a series of Collective Conversations with others in this industry. This podcast creates a platform for industry professionals to connect, learn, and grow together.
About Jude Chiy:
Jude Chiy is a highly regarded expert in the multifamily industry, known for his expertise in resident engagement and building a sense of neighborhood within each community. Jude wanted to be a superhero when he was young, but sadly never developed the superpowers to fight crime and help people. He founded Flamingo as his way of making the world a better place by simplifying life for residents and property managers.
Ultimately, Jude’s vision is a world where everyone knows their neighbors and willing to help them out. With a wealth of unique experience and a track record of critical thinking, Jude brings a unique perspective to the discussion, shedding light on key industry trends and sharing valuable advice for professionals in the multifamily space.
Additional Resources:
- The Purple Cow by Seth Godin
- If Chick-fil-A Ran Your Apartment – Six Things They’d Do Differently
- If Apple Ran Your Apartment – Six Things They’d Do Differently
- If Ex-WeWork CEO Adam Neumann’s Flow Ran Your Apartment – Six Things They’d Do Differently
- How McDonald’s Would Run Your Apartment – Seven Things They’d Do Differently
- Need Ideas? The Flamingo Blog is like finding a hidden treasure box full of novel ideas for resident engagement
Episode sponsored by: Updater
Updater is the app that gets residents move-in ready faster. Did you know that residents who are happy with their move-in experience are 59% more likely to renew their lease? Move-ins matter. Get them right with Updater. Visit go.updater.com/mike and as a special gift to our listeners, Updater is offering a special gift when you book a demo.
Connect with Us:
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Disclaimer:
The views and opinions expressed in this podcast are solely those of the individuals involved and do not necessarily reflect the official policy or position of MultifamilyCollective or any other organization mentioned during the episode. The podcast is for informational purposes only and should not be considered professional or legal advice. Always consult a qualified professional or your organizational leadership before making strategic, professional, financial, or investment decisions.
Embracing Mandela’s Philosophy to Inspire Change in Multifamily Property Management
Transforming Multifamily Property Management Through Ethical Leadership and Resident-Centric Approaches
Photo by Ashim D’Silva on Unsplash
Leadership in the multifamily space is transforming, and there is an increasing need for an eclectic mix of considerations. By embracing Nelson Mandela’s “This isn’t Right” philosophy, multifamily types can inspire positive changes. Let’s think about how to empower your team members and create a harmonious environment for everyone involved.
The multifamily space sometimes faces challenges in maintaining solid relationships with team members, residents, vendor partners, and third-party clients, complying with countless policies and procedures. Not to mention inspiring and motivating team members. Misunderstandings between management and residents can lead to dissatisfaction while lacking focus on leadership can create a disconnect between team members and executives. These issues can affect a property management organization’s overall performance and reputation.
One powerful solution is adopting Nelson Mandela’s philosophy: “This isn’t Right.” By recognizing problems and standing up for values and principles, multifamily executives can instill a strong culture of change and innovation. This approach fosters trust between leadership, management, front-line team members, and residents, ensuring a thriving community.
Encouraging open communication between leadership and team members leads to a better understanding of needs and expectations. This collaboration results in higher resident satisfaction and retention rates. Creating a safe place for people to stand up for change when something isn’t working, is key.
