Multifamily Minute Reader Reflections: Handling Burnout
Burnout's a real issue in the apartment industry, and there are multiple ways to address it. Find out how we're handling it here.
Start Your Application and Unlock the Power of Choice$5.6M offered by a Bank$1.2M offered by a Bank$2M offered by an Agency$1.4M offered by a Credit UnionClick Here to Get Quotes!Stress, turnover, and burnout are a big deal in the multifamily world.
I'd say it doesn't get talked about enough, but I do think it gets plenty of air — but mostly it's for larger properties with (similarly) larger numbers of employees.
My question to you last week was focused on exactly this. How do you mitigate or reduce your employees' burnout while keeping your residents happy?
But wait, you say. I don't have staff. I'm the staff.
Yep, I hear you (even if my survey may not have). There are lessons we can unpack for how you can take better care of yourself when the going gets tough, too.
Survey Results
Here's how you help reduce burnout and keep heads in beds:
Response | Percent of respondents* |
|---|---|
Burnout? What burnout? | 8% |
Flexible work hours | 23% |
Wellness programs | 17% |
Task automation | 31% |
Team building | 9% |
Staff rotation | 7% |
Professional development opportunities | 12% |
Other | 18% |
* Percentages do not add up to 100% as participants could select multiple choices.
Task automation was the pretty clear winner.
Automating the mundane can be a great way to reduce your employees' (or your) stress by taking the minutiae out of the job. This is doubly true if you're running the show by yourself. Why spend (literal) hours sending rent notices, scheduling upcoming maintenance tasks, and so on, when you can utilize a tool to do it for you?
Of course, if that tool is prohibitively expensive, it might give you pause. But don't undervalue your own time — or underestimate the hit your or your employees' morale takes — from sitting down, stuffing envelopes, and entering data into a spreadsheet.
Whether you're using something like DocuSign to handle lease agreements, RentPrep to screen prospective residents, or one of any number of property management platforms, freeing up your time to focus on more important — and more impactful — tasks can be an absolute game changer.
Of course, there's no one solution or way to go about getting rid of the mundane. And what you consider boring may be fun for someone else. After all, who doesn't love stuffing overdue rent notices into envelopes? (Or is that just me?)
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Our Previous Survey
Last week, we discussed something more fun. (Dogs. It was dogs. We talked about dogs.) Read how our subscribers handle pets in their units — and why it matters to your bottom line.