Checking the Balance Sheet! By Russ Sandlin The last time I checked, most of the owners, developers and property management companies I work with consider each community they operate a profit center. Unlike the 60's, today's community has to run tight to generate that precious 5% which makes the difference between mediocrity and outrageous success. Is your on-site staff an asset or a liability? Traveling around the country working with troubled communities is a big part of my consulting practice. On the other hand, I have several long-term clients who seem to have the majority of their communities producing excellent returns. How can there e such a significant difference in these markets. But wait, there's more. I have been asked to consult on troubled communities in the same areas where I know there are successful communities So it's magic wand time. What is their hidden, ultimate weapon that creates an anomaly in the marketplace? I believe now and have always believed the answer is leadership. (You thought I was going to say it was simple didn't you?) Well, it isn't simple. The number one reason some communities are successful is because they are willing to work harder to get there. Call it what you like, but every successful community I have ever visited knows it is successful! As an owner or as a multi-site supervisor ask these questions: Do you spend more time telling your on-site management team they are successful or unsuccessful? Are you constantly looking for ways to bolster the staff's confidence? Do you unexpectedly respond when they achieve a specific, even though relatively small, goal? Are you consistently accepting part of the responsibility if traffic is not closing, determining specifically why it is not closing and offer ideas, motivation or additional funds to counter the situation? Out of the last ten interactions you had with the staff how many would you consider ending on a positive note? Beginning on a positive note, having anything positive in the note? In the last ten visits to the community, how much time did you spend with individuals other than the manager or assistant manager? Can you recall what the most apartments rented in one day were at any of the communities you supervise? How did you get the information? What did you do with the information when you received it? Outrageous success is a TEAM effort that begins with great leadership (that's you)! If you are questioning the overall success of the communities you supervise, you may want to begin by asking yourself some of these tough questions. Leadership is not what you say, Its what you do! Russ Sandlin is the president of The Russ Sandlin Group, a nationally-recognized organization specializing in income-focused training and marketing for residential and commercial property. For more information on Resident Retention or other programs, call 800-535-8858. For additional information about the Russ Sandlin Group, visit us on the web: www.russsandlin.com or e-mail: theboss@russsandlin.com