Thrive in a property management career with these 8 signs of a supportive workplace culture

 Are you tired of feeling overwhelmed in your current property management role?  New to the industry and wondering where to start? A supportive workplace culture can make all the difference in building a fulfilling career.

The turnover rate for property managers is fairly high when measured against other industries. This is particularly true in residential strata—which Transpacific doesn’t engage in, partly for that reason. But some of the problems that contribute to burnout and quitting, ripple throughout the entire industry.

An April 2024 article from the Real Estate Institute of Canada says that, “The growing complexity of property management, coupled with the intricacies of tenancy laws and evolving market dynamics, has placed an unprecedented strain on the industry.” 

Canadian professionals, as a whole, feel more burnt out–it’s not just property managers

To add to this, an article in the Benefits and Pensions Monitor says that, as a whole, “Canadian professionals feel more burnt out in 2024 compared to 2023, driven by heavy workloads and understaffed teams.” Lack of communication, managerial support, and the tools or resources needed to perform properly, are also cited as significant factors in employee dissatisfaction. 

While a property management company may not be able to control everything on that list, there’s a lot they can control—a person building a career in property management isn’t doomed to burnout. They need to find a company that is working hard to build a supportive culture, and not just paying lip service to the concepts of work-life balance and well-being.

8 signs of a supportive property management culture

A thriving workplace culture isn’t just about ping-pong tables or free snacks—though those are nice perks—but about creating an environment where every employee feels valued, engaged, and motivated to contribute their best work. At Transpacific Realty Advisors, we have always believed that intentional culture-building is the key to creating a successful, supported team. 

Here are 8 ways our company works to support our property management team:

1. Portfolios with balanced workloads

A property manager can be managing anywhere between 1 and 30 buildings in their portfolio, depending on the size and complexity of the buildings. Each building has tenants, and each tenant wants any concerns they may have, addressed as quickly as possible. The owners of those buildings also want personalized attention and service. If a property management company isn’t careful about how large they make their portfolios, they’ll burn their people out—and not give their clients the service they deserve. 

At Transpacific, when we look at the size of the portfolios we assign, we take into account the following factors:

• Single-tenant versus multi-tenanted property
• For single-tenanted properties, are the tenants responsible for their own maintenance?
• Geography—is the portfolio clustered or is it spread out?
• Are several of the properties owned by a single client?
• What is the complexity, and what are the needs of the client?
• Does the property have on-site staff, such as a power engineer, leasing agent, or administrative personnel?
• What is the experience level of the property manager? 
• Does the property manager want a 60/80/100% portfolio with a corresponding salary?

There is no single, simple formula that decides the size of portfolio a manager can manage. We carefully look at all the factors that make up the portfolio and build it accordingly, taking our employee’s needs and well-being into consideration.

2. Investment in technology to streamline tasks

Technology has come a long way in our industry, and we use it to streamline processes, automate tasks, and enhance overall efficiency, giving our team more time for the things that require their hands-on attention. They can manage contractors and suppliers through mobile apps, see the status of work orders and communicate with tenants online, and generate maintenance schedules automatically each month. 

3. A culture of respect, inclusion, and accountability

At Transpacific, we know that a company’s culture is driven from the top down, and our leadership team is intentional in modeling the behaviours and values we want to see, to set the tone for the entire company. By listening with respect, involving diverse voices in our decision-making processes, and being open to adjusting our strategies based on the feedback from, and changing needs of, our team, we create an environment that is respectful, inclusive and accountable. We work to promote a sense of belonging and personal responsibility, to ensure that everyone feels they have a voice, and a stake in our collective success. 

Our team members come from diverse backgrounds, and we not only value each other’s different perspectives, we value the important moments in each other’s lives. That means there’s always a holiday or personal milestone waiting to be celebrated—usually with delicious food! 

4. Defined career paths and the opportunity to grow

When employees can see clear pathways for growth, they can see their future. At Transpacific, we take a holistic approach to staff development, offering not only professional training, but also opportunities for personal growth. Whether through mentorship programs, “Lunch and Learn” sessions, or tuition support for ongoing education, we’re committed to helping our employees reach their full potential.

5. Meaningful work

Meaningful work offers a sense of purpose and fulfillment; we all like to feel we’re making an impact.  One of the ways we foster that at Transpacific is by taking a relationship-centred approach to our work, whether it’s with our clients or team members. We encourage our employees to build strong client relationships so that they can see the difference they make, and give them opportunities to work on interesting projects. 

6. An honest commitment to well-being

Some companies talk about “well-being”, but when push comes to shove, they revert to the status quo. One of the advantages of being a mid-size company is that no one gets lost in the crowd; we can see how we’re doing, and be held directly accountable for the health of our team.

We’ve built a culture with a “family feel” in which every employee knows they are valued. When life outside of work demands extra attention, or an employee is going through tough times, we step up—we’ve got each others’ backs. And, we promote a healthy work-life balance and well-being with flexible schedules, a fitness allowance, paid volunteer days, and social activities like hiking and canoeing. 

7. Opportunities to be heard 

When employees are informed and involved in decision-making processes, they feel more connected to the company’s mission—and the company gains a valuable range of perspectives on any issue. 

To ensure that everyone on our team is on the same page and feels heard, we practice open communication and transparency with regular check-ins, town halls, and open-door policies. We are conscious about creating safe spaces for feedback, including anonymous surveys and one-on-one check-ins where employees can share their honest thoughts and concerns.  

8. Regular recognition and rewards 

It’s important to recognize when an employee is doing good work or putting in extra effort – to acknowledge their contribution to the group’s success. That’s why we make a point of regularly acknowledging and rewarding the hard work and dedication of our employees.