Property Management is More Than a Job – It’s a Lifestyle
Property management is a tough business, isn’t it?
We spend most of our days bobbing and weaving, trying to make everyone happy. Sometimes, we even succeed.
Property managers more hats than any other profession I can think of. We are world-class pivoters (that may be a brand-new word).
Not just that, we are problem-solvers par excellence. Never ceases to amaze me how we can make so many people, with such diverse needs and wants, happy. But we somehow do it.
People should need degrees in at least 5 different fields to be property managers. Let’s see – technology, accounting, scheduling, maintenance & repair, and human relations and psychology. And that’s scratching the surface.
And don’t forget the number one requirement to be a successful property manager. A really, really good sense of humor. You won’t make it past a week without that.
Oh, and maybe a vice or two.
Man, why do we do it?
We Love It
Because we love it. We might be crazy, but we truly love it.
We get to meet some really cool people. Form sometimes decades-long relationships. See some amazing properties. We get to learn something new every single day.
Property managers never have the same day twice. Sometimes that’s great, sometimes well, not so much. We come to the office each morning metaphorically locked and loaded for anything. And it usually happens.
So, we handle it. Sometimes, Google and YouTube are our best friends. Sometimes, we throw our hands up in defeat and call in an expert. But however it happens, we figure it out.
I swear, we all get more and more competent every single day – and I love it! Here, at JZ Vacation Rentals, we chose this crazy industry and we continue choosing it every day.
We have created an incredible culture that I couldn’t be more proud of.
Our Guests and Owners Are Our Property Management Partners
Our formula for success looks different than other professional property management companies. And we’re okay with that.
The most important way in which we’re different is how we relate to our owners and guests.
We think of each as our partners. We can’t do what we do without both of them. We’re not inferior or superior. We all work together to get it done.
We know that the property management business is inherently biased towards owners. It has to be. They are who we sign contracts with. They are our clients and it is our fiduciary duty to act in their best interests.
BUT…where would we be without our guests? We need both pieces of that puzzle to stay in business. So, we’re not willing to simply throw up our hands and say, “Sorry, but there’s nothing we can do.”
I’m not going to bore you with all the things we do to make our guests happy. We all do that.
R-E-S-P-E-C-T In Guest Relationships
This is what we do that’s different:
And we do it as a verb. Not to reply, not to argue, but to truly hear. To us, it’s the greatest respect we can show.
Listening to our guests is just as important to us as any other interaction we have with them.
Sometimes what they say is hard to hear. It can be embarrassing to us. Sometimes it shames us. Other times it even makes us mad.
But those times are when we listen even harder. Because we know it’s what we most need to hear.
That valuable feedback is what we have used to create our “Guest Standards”. We used to call this our “Brand Standards”. We developed a list of what we thought were the minimum standards for each property we manage. Over time, our guests’ feedback has polished and refined that list to reflect what’s truly important to them. A lesson in hubris.
Here’s the caveat. And it’s an important one. Some guests (and we’ve all had them) will never be happy, no matter what you do. They complain, they nitpick, they want to be discounted or refunded for a remote not working or bad weather, etc.
While we can’t always see them coming, we sure make a note of it when they leave. These guests don’t come back to our properties.
R-E-S-P-E-C-T In Owner Relationships
We firmly believe that the quality of our guests and owners is a huge factor in quality of our company. We will not compromise our standards to make a few extra dollars.
And on the flip side of guest relationships is owner relationships. We are honored to be entrusted with their investment and we value them as partners, individuals, and the smart, savvy investors they are.
We believe strongly in empowering our owners to stay involved in the management of their properties. Our owner portal provides all the real-time information we have about reservations, payments, maintenance and housekeeping orders, payments made on their behalf, etc.
When the inevitable questions and concerns arise, we listen just as a carefully and profoundly. Their feedback has allowed us to continually reflect on our progress, keep doing whats going right, and change course when needed.
As Property Managers, We’re Not For Everyone…and That’s Okay
We are so proud of the beautiful properties we represent. We have exacting standards and work hard to maintain them.
When an prospective owner meets with us, we explain this to them. They are made aware of not just our “Guest Standards”, but the fact that they’re non-negotiable for every property. Our expectations don’t work for everyone, for a wide variety of reasons, and that’s totally okay.
There is a market for every type of vacation rental. We’re just very clear on which market(s) we want to represent.
If the fit is not right for either us or an owner, we wish them the very best, perhaps offer an alternate property management suggestion, and continue facing forward towards our goals.
We know that being told we won’t accept a property stings. But ultimately, this difficult truth is a sign of great respect. We’re not going to waste anyone’s time.
We’ve got big things to do.