Who Are The Most In Demand People In Property?
With demand outweighing supply for certain roles in the property industry, quality candidates currently have the upper hand when it comes to recruitment. We explain the key reasons for this trend and explore how hiring managers can find top talent in a tight market.
RESIDENTIAL PROPERTY MANAGERS
With the new registration requirements for residential (and commercial) property managers coming into effect in late September, the availability of property management candidates available in the South Australian market is at an all time low. It's no secret that the registration requirements have exacerbated an existing shortage of quality, experienced candidates in this area, leaving many agencies struggling to grow and maintain their rent roles.
Despite these challenges, we believe that the introduction of licensing is a good move to continue to raise the level of professionalism in this sector.
Those property management candidates who have their licence and are job hunting are hot property right now. Our suggestion for employers looking for property management talent is to present a competitive and appealing package that is not just limited to salary. Are there good processes and procedures in place? Do you have a tidy rent role of quality tenants? Do you provide ongoing professional development and training? Can you provide flexible working arrangements? What other benefits can you offer? Highlight what is appealing and exceptional about working for your organisation and about the role.
Lease administrators who can manage the administrative process of putting together commercial and retail leases are hard to find in the Adelaide market. Whilst availability of candidates in this area has eased slightly as the year has progressed, pure lease administrators represent a gap in the market.
A major contributor to this low supply is the lack of companies who have head office property departments in Adelaide, as most commonly they are based in the eastern states. For example, a large retailer such as Gloria Jeans may have multiple sites in SA, but the property management and lease administration are run from capital cities in the eastern states.
In Adelaide, lease administration is most likely to be handled by commercial or retail property managers and often they are aided by administrative staff or a property assistant with some experience in lease administration. These factors make pure lease administrators hard to find in South Australia, and in turn cause people with these skills to be in high demand.
One suggestion for employers to get around this issue is to recruit commercial property management assistants with some leasing experience in their skill set.
Whether you’re in the residential, commercial or building and construction sectors, contract administrators need specialised skills, such as a thorough knowledge of contractual obligations required of project contractors. Local experience is also highly regarded, making it particularly hard for overseas candidates with transferrable skills to break in to this market.
More senior people with more than 5 years’ experience as a contract administrator or with experience in the commercial sector are doubly hard to find. With a lack of candidates in this area, if you’re a quality contract administrator with local experience, you are in an excellent position to win a great role at the moment.
Employers should consider that candidates are looking for market competitive salaries and a good pipeline of work. While salaries can be directly tied to the budget of an organisation, consideration should also be given to the potential opportunity cost of not having someone in the seat when it comes to winning work and completing projects.
Jane Carey, CEO at Edge Recruitment explains, "In active industries such as property, real estate and building and construction there are always going to be areas experiencing a shortage of quality candidates. Quite often there can be a reasonable volume of candidates applying for positions, but finding the quality of person with the right mix of skills and experience is the challenge.
When this is the case organisations may need to be creative and work harder to fill vacancies. Considering which skills or experience are actually critical as opposed to preferable, reducing the amount of prior experience required and providing more in-depth on the job training may be some solutions to contemplate".
These are the hardest-to-fill roles in the property industry currently and we expect this trend to continue for the remainder of 2019. We're hoping that property management candidates will become more available once the registration deadline of late September has passed. If you need advice on employment matters in the property industry in South Australia, don't hesitate to give us a call.