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Property management training key to retention

12 April 2022

Lre Bootcamp

Little’s expanded program helps close the skills gap

Australia’s low unemployment rate, coupled with a purely homegrown workforce due to the impact the pandemic has had on international labour movements, has left many sectors with a hole in their bucket when it comes to staffing their businesses.

The property management industry has by no means been exempt from the labour squeeze. Lockdowns have piled financial pressure on many renters, adding another layer of stress to the many challenges intrepid property managers face.

Anecdotal evidence suggests that as many as one in four property managers has bowed out of the industry in the last couple of years, and the average career of those coming in is as short as three years. The Real Estate Institute of Australia (REIA) recently suggested that the industry urgently needed another 4,500 property managers nationally to make up the shortfall.

Little Real Estate have had their share of property managers bowing to the additional pressures of the pandemic and joining the so-called “Great Resignation”.

The company’s Chief Financial and Operating Officer Rebecca Kerr says the business has dialled up the focus on staff retention and has recently rolled out a new suite of training modules aimed squarely at their property management cohort.

“We have a number of Gen Z and millennial workers who are drawn to the perks we offer,” explains Kerr. “We pride ourselves on providing maximum work flexibility, positive work-life balance and an engaging, fun workplace. We offer a Future Leaders program, structured mentoring and a detailed onboarding plan for new talent.”

“One of the biggest rocks on the road to retention though, is being able to provide your staff with the tools to combat the challenges today’s property managers face day in and day out. We have invested heavily in the development of specific training modules aimed at on-the-job training and development.”

Kerr says Little Real Estate’s innovation stretches beyond the new and revised modules dealing with software training, legislation and compliance, time management and communication. The company has also introduced training showcases each week that highlight a topical skill or product, and a property management “help desk” style live chat channel.

“Perhaps the initiative we are most excited about is the return of our revamped Property Manager Associate Bootcamp Program” continues Kerr. “The intensive five-week syllabus is open to successful Victorian based applicants and targets school leavers, mature aged people seeking a new challenge and new parents looking for an avenue to return to work.”

The company says the program teaches process, legislation, systems and tasks. Time is also allocated to securing the participant’s Victorian Agent’s representative license.

“Despite the obvious challenges in 2021, the Little Real Estate Property Management Bootcamps enjoyed a phenomenal 100% completion rate,” says Kerr proudly. “We are a people business and we are investing heavily in our people.”

The Property Management Bootcamp commences in mid-May, more information can be found here.