MRI Software Establishes National Property Manager’s Day to Promote Mental Health and Wellbeing in Multifamily Industry
MRI Software, a global leader in real estate technology, is introducing “National Property Manager’s Day” on September 23rd to draw attention to the mental health challenges property management professionals face.
MRI’s decision to establish this day of recognition stems from worrying reports about the mental health of property managers across the U.S., the U.K., and Australia — according to three sources of data:
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- The National Apartment Association’s second Mental and Emotional Health Survey, which assessed the emotional wellbeing of corporate office personnel, regional operations team members, and on-site employees in the multifamily industry.
- MRI’s own Voice of the Property Manager Report for the U.K. market, published in 2022.
- MRI’s Voice of the Property Manager Report for Australia, also published in 2022.
Findings from all three reports were sobering. “High employee turnover, staffing shortages, difficulties filling vacant positions, and increasing inflation have made a challenging time more difficult,” the NAA survey authors conclude. Over half of the respondents in the Voice of the Property Manager Report for the U.K. perceive their workload as heavy, and a quarter say they struggle with workload and mental health issues. The Voice of the Property Manager Report for Australia revealed that 60% of property managers are struggling with abuse and aggression on the job.
“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.”
John Sons, Chair of the NAA Mental Health Sub-Committee and Director of Training and Marketing Strategies at Burlington Capital, added: “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. 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.”
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