MRI Software, a provider of real estate software solutions, is establishing Sept. 23 as National Property Manager’s Day to create awareness around the mental health challenges property managers face. This initiative was prompted by findings of the National Apartment Association’s 2022 Mental and Emotional Health Survey.
Surveying corporate office personnel, on-site employees, and regional operations team members in the multifamily industry, the results show that 40% of respondents needed to take time off due to not feeling emotionally well enough to do their jobs and 36% felt stressed about their workload.
Other findings include that one in four respondents continued to be unsure if their company offers employee mental and emotional health support, and 20% of respondents were unsure if employee well-being is a priority at their company. “High employee turnover, staffing shortages, difficulties filling vacant positions, and increasing inflation have made a challenging time more difficult,” the NAA survey authors conclude.
The concern for property managers’ well-being also stretches into the U.K. and Australia with two additional reports. The Voice of the Property Manager Report for Australia shares that 60% of property managers were struggling with abuse and aggression on the job.
“Stress in the property management industry is not new, and the pressures and disconnection of the past two years have only exacerbated conditions for property managers. The only way forward is to bring this key issue to light by ‘just talking about it,’ sharing our personal stories and struggles, and listening with empathy and understanding,” says John Sons, chair of the NAA Mental Health Sub-Committee and director of training and marketing strategies at Burlington Capital. “Employers and C-suite executives know that employee retention and engagement have a direct impact on business results, so it’s imperative to provide support and resources to raise awareness and drive change.”
In addition to the designated day, MRI is sharing a celebration toolkit that property teams can use. It includes flyers and sample social media posts. The company plans to host future special virtual events for property managers and is hosting virtual wellness classes. In preparation for the inaugural day, MRI has sent fun and stress-relieving pinata-grams to some properties and has gifted coffee or beverage gift cards to regional property managers.
“The Great Resignation has hit the property management industry hard, and the results of the three surveys give us good ideas as to why,” says Brian Zrimsek, industry principal at MRI. “By establishing National Property Manager’s Day, we are hoping to shine some light on the situation and inspire all multifamily organizations to alleviate the mental health and workload challenges of their property managers. These employees play a critical role in supporting efficient operations and promoting tenant retention.”