resident experience
Karate and Multifamily: The Philosophy of ‘Come Back Tomorrow’
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Much like mastering the intricate techniques of Karate, thriving in the multifamily space demands persistence, resilience, personal vulnerability, and the commitment to ‘come back tomorrow.’ This phrase, emblematic of the Karate discipline, emphasizes the value of consistent effort over time. For those in leadership positions, this philosophy holds potent lessons about achieving longevity and success.
There’s a rhythm to multifamily, a certain ebb and flow. Leaders often grapple with challenges – from resolving resident disputes to evolving housing concerns. There’s an urgency to find instant solutions and to see immediate results. But just as one doesn’t become a Karate master overnight, true leadership and business success aren’t achieved immediately. It demands a different approach – understanding the power of patience, persistence, and the wisdom to know when to act and when to wait.
The journey from white belt to black belt in the dojo is not just about perfecting techniques. It’s about understanding oneself, the opponent, and the environment. Multifamily leaders should imbibe this very lesson. Every challenge, whether a maintenance issue or an external economic shift, is an opportunity to learn, adapt, and grow. The solution doesn’t always lie in immediate action but often in observation, reflection, and strategic patience.
The art of Karate also teaches us the value of returning – of showing up, day after day, even when the progress seems minuscule. It’s about cultivating a mindset of growth and evolution. In the multifamily space, this translates to continuously seeking avenues for improvement, fostering genuine connections, and crafting resident experiences that resonate and develop resident loyalty.
Lastly, Karate emphasizes the blend of tradition with evolution. While respecting time-tested practices and values is vital, being open to innovation and change is equally important. For multifamily leaders, this means respecting the foundation of the industry while also being agile enough to embrace the future.
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Balancing Proactivity and Adaptability
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There is a constant dance between proactive management and reactive adaptability in the multifamily space. This balance is best encapsulated by Brianna Wiest’s words, “What you must reach for, and what you must allow to come.” Every senior leader, regional manager, property manager, or stakeholder can resonate with this sentiment.
When we think about “what you must reach for,” it’s the goals we set, the standards we aspire to, the habits we embrace to drive the person we want to become, and the dreams we chase. It’s the initiative to cultivate community, foster connections, and relentlessly pursue improvement in our operations and resident experience. It’s that proactive mindset where we are not just participants but drivers of change.
Conversely, “what you must allow to come” speaks to the art of patience and acceptance. Every day in multifamily communities across the country, unexpected challenges happen – maintenance issues, resident disputes, or external economic shifts. Here, the emphasis is on adaptability, the understanding that not everything can be controlled. There’s a grace in allowing certain situations to unfold, trusting in the organic development of a community, and accepting that sometimes, the best-laid plans can change.
In essence, achieving excellence in leadership hinges on this dichotomy. It’s about reaching forth with intention yet being open to the unpredictable. It’s about striving, letting be, and understanding that both are necessary.
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Striving for Excellence in Multifamily: The Impact of Small Actions
Unlocking Success in Multifamily Housing Through an Emphasis on Detail
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In the multifamily space, focusing on grand strategies, big projects, and extensive renovations is common. However, the truly successful leaders in this space know the value of also paying attention to the ‘small stuff.’ Every interaction with a resident, maintenance task, and line item in a budget are all opportunities to strive for excellence. By fostering a culture where every detail matters, property management executives can create a thriving community for Residents and a fulfilling workplace for their team members.
One of the challenges that multifamily property management executives face is balancing the need for larger-scale improvements with the consistent delivery of high-quality daily operations. It’s easy to be swept away by the allure of significant renovation projects or brand-new amenities. However, this can lead to overlooking the more minor aspects of property management, which form the backbone of the resident experience. As a result, Residents may feel unimportant, and team members may feel unappreciated, which can cause morale to plummet and decrease the property’s overall appeal.
One solution is to promote a ‘sweat-the-small-stuff’ mentality among your team members. This means emphasizing the importance of every task, regardless of its size, and recognizing those who excel in their roles, however seemingly minor they may be. By doing this, you motivate your team members to perform at their best and enhance the resident experience.
A ‘small-stuff’ approach also improves the operational efficiency of your properties. By paying attention to the details, you can spot potential problems before they escalate, saving time and resources in the long run.
Moreover, fostering a culture of excellence where every detail matters can help build a stronger sense of community among your Residents. When their concerns are heard and addressed promptly, residents feel more satisfied and engaged with their community. This leads to increased resident retention, a vital factor in the profitability and success of multifamily properties.
Lastly, focusing on the ‘small stuff’ can help distinguish your properties from competitors. Going above and beyond in all areas, not just the most obvious ones, creates a unique resident experience that sets your properties apart.
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VOC
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Multifamily living has become increasingly popular over the years, with more and more people choosing apartment living over homeownership. In fact, according to the National Multifamily Housing Council, there are approximately 39 million Americans who live in apartments.
With the growing demand for multifamily living, property managers must prioritize the resident experience to ensure their properties remain competitive. One effective way to do this is using the Voice of the Customer (VOC) to inform decision-making.
The Voice of the Customer is a powerful tool that allows property managers to collect customer feedback and gain insights into the resident experience. Using VOC, property managers can identify areas of improvement, make informed decisions, and ultimately enhance the overall resident experience.
One of the most significant advantages of using the VOC is that it enables property managers to identify specific pain points that residents may be experiencing. For example, property managers can use this feedback to implement noise-reducing measures if residents consistently complain about noise levels. By addressing these concerns, property managers can create a more comfortable living environment for their residents.
Moreover, using the VOC can also help property managers make informed decisions about amenities and services. Property managers can allocate resources and make informed decisions about future investments by gathering feedback on the amenities and services that residents enjoy and use the most. This ensures that residents are happy with the amenities and services provided and helps property managers make the most of their budget.
In addition to improving the resident experience, using the VOC can positively impact the bottom line. Property managers can reduce resident turnover and increase satisfaction by addressing specific pain points and enhancing the overall resident experience.
This, in turn, can lead to positive reviews and word-of-mouth referrals, which can ultimately help attract new residents.