Property management historically has a turnover rate of 33%. The pandemic did not help

Today’s challenges in property management recruitment are making it harder to manage lobbies.

Property management has traditionally struggled to retain workers – research by the National Apartment Association estimates that the turnover rate before the pandemic was an astronomical 32.7%, several times higher than other industries. Unsurprisingly, the pandemic and the resulting changes to the way we live and work haven’t helped.

A new report released last week by the NAA and AppFolio, a property management software company, reveals that job and workplace changes have exacerbated the incredible challenges operators face in finding workers. Half of respondents chose staffing and recruiting as their top challenge right now, according to interviews with a range of industry professionals.

Unsurprisingly, the problem has been exacerbated by the many shifts in demand, workplace organization and remote working caused by Covid, as well as changes in the labor market; increasing benefits and salaries were mentioned as possible solutions, although respondents claimed that income has not yet made these solutions feasible.

The report notes that labor shortages have spawned more shortages, as “the inability to fill positions and/or the influx of inexperienced new hires who require training means teams have to do more with less. “.