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Incentivizing Property Managers: Creative Approaches to KPIs and Bonuses

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Manage episode 483566630 series 2937583
Content provided by Ashleigh Goodchild. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Ashleigh Goodchild or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

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KPI and bonus structures in property management are highly dependent on team structure and should be implemented thoughtfully with focus on rewarding performance that exceeds standard expectations rather than basic job functions.
• The "Keep It Budget" gives property managers their full bonus upfront which gets reduced for avoidable mistakes
• "Profit Per Portfolio" rewards based on total revenue generation instead of property numbers
• "KPI A La Carte" allows team members to choose focus metrics quarterly
• Task-based micro bonuses incentivize specific tasks like routine inspections or 5-star reviews
• Shared bonus pools create team accountability especially in task-based structures
• Creative non-monetary incentives include Culture Coins and mini-CEO programs
• Client experience metrics like NPS scores provide balance to prevent quantity over quality
• Not all agencies need KPIs - many successful businesses simply pay market rates with great environments
I'm always happy to share ideas and brainstorm together. If you have creative approaches to KPIs or questions you'd like addressed, please send them through to me.
PM COLLECTIVE - GUIDE AND SHAPE AN ENJOYABLE FUTURE

We believe in making industry-leading education and support accessible to everyone. Our community is packed with free resources, expert insights, and innovative training designed to help business owners, property managers, and BDMs thrive.

This podcast is kindly sponsored by The Associates Co.

The Associates Co provides fully trained professionals to assist you with scaling your property management department. They are ready to hit the ground running! Once a luxury, VA's are now a staple in every business, whether you are managing 5 properties or 500+
Head over to www.theassociatesco.com

Support the show

  continue reading

Chapters

1. Incentivizing Property Managers: Creative Approaches to KPIs and Bonuses (00:00:00)

2. Introduction to KPI Question (00:01:02)

3. The "Keep It Budget" Approach (00:02:25)

4. Profit Per Portfolio Strategy (00:05:59)

5. KPI A La Carte Method (00:07:53)

6. Task-Based Micro Bonuses (00:09:31)

7. Shared Bonus Pool System (00:11:29)

8. Creative Non-Monetary Incentive Ideas (00:13:23)

9. Closing Thoughts (00:16:20)

187 episodes

Artwork
iconShare
 
Manage episode 483566630 series 2937583
Content provided by Ashleigh Goodchild. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Ashleigh Goodchild or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://staging.podcastplayer.com/legal.

Send us a text

KPI and bonus structures in property management are highly dependent on team structure and should be implemented thoughtfully with focus on rewarding performance that exceeds standard expectations rather than basic job functions.
• The "Keep It Budget" gives property managers their full bonus upfront which gets reduced for avoidable mistakes
• "Profit Per Portfolio" rewards based on total revenue generation instead of property numbers
• "KPI A La Carte" allows team members to choose focus metrics quarterly
• Task-based micro bonuses incentivize specific tasks like routine inspections or 5-star reviews
• Shared bonus pools create team accountability especially in task-based structures
• Creative non-monetary incentives include Culture Coins and mini-CEO programs
• Client experience metrics like NPS scores provide balance to prevent quantity over quality
• Not all agencies need KPIs - many successful businesses simply pay market rates with great environments
I'm always happy to share ideas and brainstorm together. If you have creative approaches to KPIs or questions you'd like addressed, please send them through to me.
PM COLLECTIVE - GUIDE AND SHAPE AN ENJOYABLE FUTURE

We believe in making industry-leading education and support accessible to everyone. Our community is packed with free resources, expert insights, and innovative training designed to help business owners, property managers, and BDMs thrive.

This podcast is kindly sponsored by The Associates Co.

The Associates Co provides fully trained professionals to assist you with scaling your property management department. They are ready to hit the ground running! Once a luxury, VA's are now a staple in every business, whether you are managing 5 properties or 500+
Head over to www.theassociatesco.com

Support the show

  continue reading

Chapters

1. Incentivizing Property Managers: Creative Approaches to KPIs and Bonuses (00:00:00)

2. Introduction to KPI Question (00:01:02)

3. The "Keep It Budget" Approach (00:02:25)

4. Profit Per Portfolio Strategy (00:05:59)

5. KPI A La Carte Method (00:07:53)

6. Task-Based Micro Bonuses (00:09:31)

7. Shared Bonus Pool System (00:11:29)

8. Creative Non-Monetary Incentive Ideas (00:13:23)

9. Closing Thoughts (00:16:20)

187 episodes

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