Five Traits of a Great Community Management Company Leader

March 20, 2024 Sasha Cancél

Henry Ford once famously said: “Coming together is a beginning; keeping together is progress; working together is success.” In a society where 68% of the U.S. population resides in metropolitan areas, fostering vibrant communities takes center stage. Community management companies, helmed by strong leadership, significantly impact the daily lives of millions. 


Several factors drive the burgeoning community management industry:

Leading firms like Associa, Beacon Management, ONR, and FirstService Residential, showcase excellence in the industry. These companies prioritize operational efficiency and champion innovation; ONR’s comprehensive property management platform offers a glimpse into the future of management, fostering streamlined communication and resident services within communities.


Cultivating Effective Management: The Cornerstones of Success

A truly exceptional property management company leader will make sure the following areas are covered:


Seamless Communication

They prioritize clear, consistent, and multi-channel communication with residents. This goes beyond simple email blasts. Leaders know that resident portals allow for easy access to important documents, and maintenance request submissions. Additionally, 24/7 emergency hotlines ensure prompt response to urgent issues. According to a study by the Institute of Real Estate Management (IREM), 72% of residents consider effective communication a major factor in their satisfaction with a property management company.


Financial Proficiency

Property management company leaders should have strong financial wisdom, meticulously managing the financial health of the community. This includes ensuring a high occupancy rate (ideally above 90%), and implementing strategic budgeting to maintain healthy reserves for capital improvements. Furthermore, they provide transparent financial reporting to homeowners and residents, fostering trust and financial accountability. A 2023 survey by the National Apartment Association revealed that 86% of residents prioritize clear and detailed financial communication from their property management company.


Responsive Maintenance and Upkeep

Successful management company leaders should implement preventative maintenance programs, addressing minor issues before they snowball into larger problems. This proactive approach helps reduce long-term repair costs and minimizes disruptions for residents. Additionally, the company should boast a highly skilled and reliable maintenance team to ensure fixes are completed efficiently and to a high standard. Properly maintained associations can retain more property value compared to neglected ones.


Persistent Compliance

In-depth knowledge of relevant regulations and legal requirements is paramount. The leaders in these companies must ensure the community adheres to HOA rules, local ordinances, and fair housing laws. This includes staying updated on changes in legislation and promptly implementing necessary adjustments. Regular legal consultations and a commitment to ethical practices safeguard the community from potential legal ramifications.


Resident-Centric Approach

Actively cultivating a sense of community through resident engagement initiatives is essential. This can include organizing social events, establishing resident committees, and implementing resident satisfaction surveys. Addressing resident concerns promptly and fostering a sense of community is crucial for resident retention. A study by the National Multifamily Housing Council demonstrates that residents who feel connected to their community are more likely to stick around.

Visionary leadership, cutting-edge practices and technology, as well as a resident-centric approach defines the pinnacle of community management. While the industry navigates an era of increasing demand and complexity, leaders who embrace these core principles will not only propel their companies toward continued success but also play a pivotal role in shaping a sustainable and prosperous future for community living.


If you’re ready to take the leap into the 21st century and become one of the great property management company leaders, book a demo with ONR, and let us show you how to raise the bar and lead the way!