Creating an Ethical Property Management Practice
When your commercial property is ready for occupancy, either after a successful completion phase or after closing an Atlanta commercial real estate sale, it is now time for the much awaited phase which is income generation. Property management can be straightforward because every party knows their responsibility in the engagement. The reason why many landlords will hand over the management of their Atlanta investment properties to professionals other than their family members is to eliminate unethical management practices. What begins as a simple case of diversion from the code of ethics could blow up into a culture of malpractice which has been the down fall of many companies. It pays therefore, to foster an environment where ethical relations are upheld from the beginning.
If you have been given the mandate of managing someone’s property, realize that you call the shots from then henceforth. It may appear appropriate for the landlord or company owner to give the rules of engagement, but as a middle level manager, you can create your own standard of dealing with tenants and handling the company resources. The work you do will be gauged from how you perform from the beginning of the contract.
It is not just enough as the head of the Atlanta property management team to give out manuals outlining the code of ethics if you do not live by the same law. Leading by example is one of the most effective styles of leadership that we have today. If junior workers see how you conduct the affairs of a commercial property even in the tiniest of matters, they will have no choice but to conform to the same practice.
The moment you entertain unethical behaviors either by turning a blind eye, giving second chances or brushing it of as petty, is the moment you communicate to the rest of the team that some level of unethical behavior is acceptable. Acknowledging the fact that people who are unethical in small matters will act the same way with big matters is the first step in avoiding larger mistakes in the future.
In history, there have been great leaders whose legacy came tumbling down because of a silly mistake in their management style. These are the best cases to borrow lessons from. The aspects that made them great should be emulated and the failures should be shunned by all means. This is the only way to increase business and win the rust of landlords who will give the best referrals to others.Marc Glaser