Apartment Property Manager Goals and Objectives Examples
Maintain occupancy rate of 95% or higher.
Minimize property vacancies to less than 2%.
Increase the net operating income by 10% annually.
Develop and maintain an effective leasing strategy for the property.
Implement best practices in marketing and advertising to attract tenants.
Respond to all leasing inquiries within three hours.
Conduct thorough tenant screening and ensure compliance with Fair Housing laws.
Facilitate timely rent collection and enforce lease terms.
Reduce delinquency rate to less than 2%.
Identify revenue-generating opportunities such as pet fees, parking fees, etc.
Maintain a high level of tenant satisfaction, measured through annual surveys.
Respond to tenant complaints and maintenance requests within 24 hours.
Ensure that all repairs and maintenance work is done in a timely and cost-effective manner.
Establish and maintain relationships with local vendors and contractors.
Conduct regular property inspections to identify areas of improvement.
Create and manage budgets for each property within the portfolio.
Monitor expenses and implement cost-saving measures where possible.
Provide weekly and monthly financial reports to senior management.
Maintaining accurate records of all financial transactions.
Ensure compliance with local, state, and federal regulations.
Renew leases at least 60 days before expiration date.
Conduct move-in and move-out inspections promptly, communicating findings to tenants.
Preventative maintenance program in place and regularly scheduled based on age/type of equipment.
Evaluate energy efficiency potential of appliances and lighting.
Conduct safety audits on a regular basis as necessary.
Train staff on safety procedures including fire safety plan, emergency response plan, first aid certification, etc.
Manage staff performance through coaching, training, motivation, etc.
Monitor employee schedules to ensure proper coverage throughout the day/week/month.
Work collaboratively with other property managers across the portfolio to share ideas, resources, and best practices.
Attend industry conferences and seminars to stay up-to-date on industry trends and regulations.
Identify ways to improve operational efficiency, such as implementing new software systems or tools.
Analyze data to identify trends in sales, occupancy rates, resident retention, etc.
Continually evaluate current policies/procedures and update as needed for consistency & maximum efficiency.
Develop strong relationships with existing residents through events, amenity offerings, incentives, etc.
Develop and maintain relationships with vendors to ensure quality service delivery as well as leverage negotiations for competitive pricing.
Facilitate communication between tenants, owners, vendors, maintenance team members, and office staff.
Develop an emergency preparedness plan for each property in the portfolio.
Contribute to the development of company-wide policies and procedures.
Build a sense of community among tenants through social events or other initiatives.
Regularly review security measures to ensure the safety of tenants and their belongings.
Maintain an up-to-date tenant database for future reference.
Ensure all properties are properly insured according to company policy.
Consistently monitor online reviews and respond in a timely fashion.
Foster positive relationships with neighboring businesses.
Monitor online reputation through social media channels based on brand policy.
Conduct routine market analysis to provide benchmarks for property performance.
Build rapport with prospective tenants by listening to their needs & preference.
Utilize various methods (i.e., email campaigns, direct mailings) to promote property opportunities.
Ensure strong arrival experience for potential tenants.
Manage relationships with third-party vendors including cleaning services & landscaping companies.
Supervise the facilities maintenance team.
Regularly utilize budgeting tools for expense forecasting.
Develop strategies for cost-savings.
Optimize vendor contracts periodically via a process that ensures service levels & pricing standards are being met.
Review lease agreements and ensure adherence to all legal requirements.
Consistently monitor market conditions to ensure alignment with rental pricing.
Collaborate with marketing team members in developing promotional materials.
Execute tenant retention strategies effectively.
Regularly review tenant demographics to understand trends.
Leverage social media channels to drive tenant engagement.
Coordinate tenant move-in and move-out process smoothly.
Regularly assess apartment unitsfor readiness ahead of move-in schedule.
Articulate clear expectations for building operations team.
Monitor priorities between staff projects while assuring that daily tasks are completed on time.
Develop leadership capacity within building operations team for succession planning purposes.
Capitalize on cross-promotion opportunities between properties within portfolio.
Create standardization around managerial tasks like reporting metrics & scheduling tasks.
Proactively identify inefficiencies in property operations and collaborate with building operation teams to mitigate those issues.
Conduct regular evaluation of vendor performance against stated KPIs.
Uncover innovation opportunities within the industry.
Oversee the performance evaluation process for building ops employees.
Ensure equipment warranties /maintenance schedules accurately reflect real-world use scenarios.
Standardize communication protocols between building ops team members ensuring they have updated information.
Assure compliance with fire/life/safety codes throughout properties managed.
Optimize energy conservation practices throughout buildings in the portfolio.
Establish protocols for after-hours emergencies & alerts.
Work diligently with key stakeholders on acquisition efforts, conducting thorough due diligence processes when necessary.
Maximize resident satisfaction scores through established customer service policies/protocols.
Document all major incidents occurring at managed properties.
Leverage technology (i.e., efficient procurement systems) when applicable.