Is There Any Stress in Property Management?

Working in property management can be extremely stressful at times, so it is important to keep healthy in both mind and body.

April is Stress Awareness Month in the UK, so it is a pertinent thing to think about at this time.

Gallup research has found that during Covid 19 stress levels have increased for female small-business owners by 62% compared to 51% for their male counterparts. 

Also, their daily stress level is higher too, 60%, compared to 47%

At present, life has so many unforeseen pressures that just add to our already very busy lives. As a working mum, I have pressures at home and at work, and as much as I love both, if I don’t take care to step back and look at things, my life can be more stressful than it need be. 

I also need to be aware of the signs of my stress becoming too high – and that tipping point will be different for everyone – as all bring different life experience to the table. 

The increase in the use of social media for business and the amount of emails that appear in my inbox, all add to the stress of the job, because you can end up with very little down time.

Like the rest of the world, living in the current situation, there are many added pressures that people are dealing with, affecting each of them in very different ways.  

Clients who may have always been easy to work with, reasonable and courteous, may have changed into more irritable, impatient people, due to the pressures and stresses in their own lives. 

I don’t know what anyone else is going through and they don’t know about my life. However, we have to continue to work together in the best way possible.

During Covid 19 stress levels have increased for female small-business owners by 62%

Property managers & block managers don’t get stressed do they?

Yes of course they do. In a business which involves a lot of human interaction, stressful situations can come out of nowhere.

For example, I was once slapped by a resident over a service charge dispute, and on occasions, my staff and I have been verbally abused no matter how helpful we try to be.  Often this is because we are not in a position to offer the outcome that the resident wants.

C?lients and residents have places where they can go to make complaints, or ask for support. Block managers belong to trade bodies which ensure you commit to a high level of service. We’ve always been proud to do so.

What sort of things add to the stresses of Property management and block management?

• People are wanting to move homes, but Covid19 restrictions have meant they have had to put things on hold. This makes them more impatient and anxious.
• Leaseholders living in flats dealing with dangerous cladding and external wall system issues are worried about the implications, both financially and generally, which provides added pressure for property management staff.
• If someone has a problem with utilities, it can be an issue if they are ‘shielding’ or elderly and scared about having strangers in their property. It brings added pressures when sorting out a solution to deal with the problem and keep the resident happy.
• From 2014, letting and property managements agents have been required to be a member of one of the three compulsory redress schemes. These schemes are designed to ensure tenants and leaseholders have a straightforward option to hold their agents to account. This means that tenants and leaseholders can escalate their complaints if they don’t think they are being listened to, or their problem isn’t being reacted to in the manner they expect. A huge added stress for property management companies if they are not behaving correctly – and can be stressful if someone complains even if you are confident you’ve done all you reasonably can to help them with their issue.
• Residents who cannot grasp the reality of the leases they have signed, what they are or are not responsible for and they are looking for someone to blame. Luckily this is rare, however, it’s always important to get legal advice on what you are agreeing too. See my earlier blog about this.

However, luckily, I too can turn to my trade body who are there to support me and the business. Fraser Allen are members and associates of The Royal Institute of Chartered Surveyors -RICS, The Institute of Residential Property Management -IRPM and The Property Ombudsman.

Back in February, The Institute of Residential Property Management (IRPM) launched a wellbeing and resilience survey in order to build a picture of the main pressures and emotional challenges faced by those working in the sector. 

The results of this survey will provide a mental ‘health check’ for the industry and ultimately help towards shaping future mental health and wellbeing support for property management professionals.

Aimed at property managers as well as onsite and back-office support staff, the survey asks recipients to share their current life pressures, their experiences of aggressive behaviour and the implications of coronavirus.

It also highlights the numbers dealing with cladding and external wall systems issues, which are proving to be a regular source of pressure for property management staff.

The survey’s results can help the sector develop initiatives which can support the mental health and continued performance of property management professionals.

Nigel Glen, CEO of ARMA, said:

“These are tough times for everyone, particularly leaseholders living in flats with unsafe cladding. ‘Our survey seeks to shine a light on the other side of the coin – the property management professionals who often bear the brunt of leaseholder frustrations, despite not being at fault for building defects. Add to this the complications a pandemic brings, and we are almost certainly looking at a workforce that is facing uncapped levels of pressure and stress. We want this survey to flag areas of concern so we can come up with strategies that will ensure our sector’s professionals can remain efficient and appropriately supported.”

Andrew Bulmer, CEO of IRPM said:

“Property management has never been an easy profession, but at the moment it’s surely tougher than ever. The cladding crisis and leasehold reform, each on their own, would be huge challenges. That they have landed during a global pandemic is outrageous bad fortune and just keeping up with the changes is exhausting.’

‘A well-trained and highly competent workforce is essential, but today’s employers understand their greatest asset is their people. Supporting your team as they face their daily challenges creates a positive workplace culture, a stable and successful business and better outcomes for our customers. But what is the right kind of support, and for whom? What practical things can employers and individual professionals do to improve our wellbeing and the wellbeing of those we serve? To answer those questions, we need to analyse the evidence and that is why it is so important that every property professional takes part in this survey.’

As you will know from my previous blogs, customer service and ensuring we are supporting our clients and residents is vitally important to me, and will continue to go the extra mile regardless of what the future holds!