Clique-Driven Leadership: Leadership is highly cliquey. If you’re favored, opportunities come your way. If not, advancement is nearly impossible. No skip-level meetings mean there’s little oversight or accountability for ineffective managers.
Compensation Issues: Pay is significantly below industry standards (often 25% or more), yet some long-time underperformers (even those demoted) remain overpaid due to lack of proper pay structure.
Poor Ethics and Transparency: Leadership plays favorites, including expensing family members at company events while others don’t receive the same benefits. Salary data isn’t well-protected, leading to internal resentment.
Lack of Investment and Strategy: Properties suffer from a lack of maintenance and capital investment, making it difficult for leasing teams to justify rent increases and meet revenue targets. The Asset Management team consistently and historically has failed to conduct proper due diligence, leading to higher long-term maintenance costs. Instead of making strategic improvements, they take a short-term cost-cutting approach that results in ongoing operational issues.
Vendor Payment Issues: Late vendor payments (often 3+ months) create constant frustration for frontline and support staff, impacting morale and operational efficiency.
Resistance to Change: Many teams are reluctant to improve processes. Meetings (unless you are a leader) are frequently unattended, and budgeting decisions are made without input from those who actually understand the data.
Expect to be Undermined and Railroaded: Leaders often drop “whammies” in meetings instead of working collaboratively toward solutions. These tactics are politically motivated, designed to make themselves look good rather than solve real issues. In reality, it’s petty, creates resentment, increases turnover, and negatively impacts overall performance.
