Managing Properties in One of the Country’s Toughest Places Without People-Pleasing

Managing Properties in One of the Country’s Toughest Places What does it take to get an amazing reputation, not just on Google, but also on Yelp? Our guests on the podcast today are from R.E.M. Residential. It’s one of the highest-rated residential property management companies in all of New York. They have not had a negative review, not even on Yelp, since 2017. How can they manage in one of the toughest markets in the world while keeping people happy without people-pleasing? We’re about to find out. Introducing R.E.M. Residential R.E.M. was started in 2000 by Rick Elezi. Rick came from an extensive real estate background. He started out as a porter, and he also worked as a doorman and handyman. Shpresa Elezi met him because her dad was a resident manager next door to the buildings where Rick met. They began doing property management in 1995, and five years later, R.E.M. was born. Rashaad Middleton is the company’s director of management. He started with R.E.M. about 14 years ago as a broker. Ten years ago, he became the director of management. He’s been a landlord for two years, so he understands both sides of the rental relationship. He’s proud of the retention rate of the company, both with clients and employees. Fourteen years in, he’s happy. Lara Lapysh has been with R.E.M. for seven years. She started as a broker and has been growing the condo department. She specializes in condos and co-ops. R.E.M., she says, is a family. The industry has a large turnover rate, and she enjoys being an old-timer in the company she’s committed to. How To Maintain Zero Negative Reviews in a Thankless Industry We know the property management industry can be thankless. The concept of property management is simple but keeping up with the concept is hard. It’s really just about meeting needs and exceeding expectations. We all have basic needs wherever we happen to live. We want to know that things will work. Doorknobs turn and there aren’t any leaks. When you go to the bathroom, you want to know that the bathroom is going to work the way a bathroom should work. When clients or tenants approach the team at R.E.M. Residential, the goal is to give them what they want. It’s not just fixing what needs to be fixed. The team helps them solve problems. They’re bringing a better experience to the people they work with. Property managers cannot control everything. Some situations have no resolution and no one is perfect. But, when the focus is on relationships and innovation, exceptional customer service can be achieved. One of the main complaints people have is that they cannot get to a live person when they’re making a phone call. When property managers and their teams are willing to talk to people, those clients and tenants will feel updated. They’ll feel taken care of. Sometimes, that’s more important than an instant resolution to a problem. People appreciate a personal touch. Spresha says she has had disagreements with people, and those people recommended the company to other people anyway. The disagreement is not the problem. As long as you’re communicating and sharing your expertise, even your adversaries will relate to you. Layers of answering machines and automation do not resolve anything. There’s a lot of disagreement in property management. It’s part of the job. The team at R.E.M. Residential is dealing with sophisticated, educated, and successful people. They might tell their property managers what they want, and those property managers will respectfully disagree. This is the job. What makes the relationship work anyway? Communication. Common ground can be found. A perfect record of reviews is more about relationships than resolving management issues.