At almost any job, whether it involves running a multinational investment firm or flipping burgers at a chain restaurant, employees are given periodic reviews of their performance. Common elements of all reviews are that they assess how the job holder is doing, what his or her strengths are, and what areas need improvement.
For property managers, however, performance evaluations can be challenging because of the sheer variety of people they deal with, from boards of directors and boards of trustees to disgruntled owners, and hectic schedules that can push periodic reviews down the road indefinitely.
Excuses to Skip Appraisals
A lot of employers who don’t bother with appraisals decline to do so because they are “too busy.” The excuse is that there is always a more productive use of their time. While this is rarely true, as best practices have consistently shown, it is excusable if the job is being done well. But what if it’s not?
Although part of being a good property manager is anticipating the needs of a building before the board even realizes the need arises, property managers are not, strictly speaking, mind-readers. They may think that no news is good news. Maybe they’re right, but maybe not.
A formal performance review is a way for both parties to sit down, talk about the period that ended and the period that is beginning—be it a week, a month, six months, or a year—and make sure that they are both on the same page.