Keys to Property-Management Success

TUSTIN, CA—The ability to leverage available data for better understanding of decision-makers and the utilization of mobile platforms are two important elements for successful property management, Cheryl Todd, CCIM, VP of real estate management for Coreland Cos., tells GlobeSt.com. Todd recently spoke on the “Executive Think Tank” panel during an IREM OC conference, and we spoke with her exclusively about the takeaways from the event.

GlobeSt.com: What were the main points that came out of the Executive Think Tank at the IREM event?

Todd: One of the major driving forces in our industry today is the ability to leverage available data to better understand customers, tenants and clients. Knowledge is key, and if you are not taking advantage of the data available, then you are not maximizing the value of your portfolio. Today's consumers are individuals who demand personalized resources and attention. Whether you work in the commercial or multifamily arenas, we all have the ability to better understand our customers. If we use the information available to us, we can adapt to meet their unique needs and provide quality experiences.

GlobeSt.com: What are some of the most successful innovative strategies being used in real estate management?

Todd: Mobility continues to transform the property-management industry. There are countless platforms available to us today that help us do our jobs more efficiently—platforms that allow us to be nimble, to enhance our processes and to improve communication. As an example, simple transitioning to a cloud-based file-sharing platform has dramatically enhanced efficiency across our management teams.

GlobeSt.com: What are today's executives expecting from their employees?

Todd: All on the panel agreed that a great attitude is a much more valuable characteristic to a company than great skill. We want employees who are proactive and always willing to learn something new; employees who want to be a part of the process. Your most-valuable employees are those who can develop the ability to think on their feet and quickly assess a situation to formulate a solution.

GlobeSt.com: What else came out of the IREM event?

Todd: I think that everyone—whether you are a leader or a team member—should always be reading, staying current on industry trends and interacting with colleagues of all ages and levels. The more we collaborate, the more we grow as individuals and as a company. And we must all focus on mentoring the next generation of real estate professionals.