Plant Park on the University of Tampa Campus Becomes a Hurdle in West Riverwalk Expansion
September 13, 2024
Hillsborough County Reduces Affordable Housing Fund by $8 Million
September 20, 2024
83% of Property Managers Enjoy Working at Their Companies
According to the 2024 Voice of the Property Manager report, published by the National Apartment Association and sponsored by MRI Software, 83% of property managers enjoy working at their current place of employment, and 74% feel secure in their roles.
The report, which surveyed nearly 1,000 industry professionals, reflects feedback from over 850 property and regional managers nationwide, 88% of whom identify as female. The largest demographic group consists of those aged 35 to 44, representing 32% of respondents, followed by the 45 to 54 age group at 29%.
Nearly half of the respondents work for owner/operators, with 88% indicating their companies own or manage conventional multifamily properties. Of those surveyed, slightly more than half manage fewer than 5,000 units, while approximately 20% oversee portfolios of more than 30,000 units.
The survey further revealed that 60% of property managers feel adequately trained for their roles, and 65% have held their current position for at least five years. Additionally, 74% report having the tools and resources necessary to perform their jobs effectively; 86% commend their coworkers; 72% value the flexibility they are afforded; and 82% take pride in working for their current organization.
Areas of dissatisfaction include compensation (25%), the use of technology by their teams (17%), and management support (17%). However, 59% are satisfied with their salaries, and 69% are content with both the level of technology employed by their teams and the support they receive from management.
When it comes to workload, 47% describe their responsibilities as “on the busy side,” while 24% experience fluctuating workloads. Only 15% feel overburdened by their workload. Moreover, 55% report having a good work-life balance, though 34% feel this balance is lacking. Notably, 68% say their work has a mild to moderate negative impact on their mental health, and 11% report a significant impact.
These challenges are largely consistent with findings from the 2022 report. The top issues property managers face include dealing with aggressive or abusive residents (22%), difficulty disconnecting from work after hours (16.3%), maintaining adequate staffing levels (14.3%), and managing heavy workloads (13%). Other notable challenges include working with residents at risk of eviction (6.9%), staying current with legislation (6.2%), handling fraud (4.7%), and training new employees (4.7%).
Despite these concerns, 74% of property managers envision remaining in the industry over the next three years, and 60% express a desire for further growth within the field.
