Opportunity is Knocking – Here’s how to open the door

Did you know that 72% of all new developments in South Africa between 2018 and 2022 were either sectional title or freestanding properties in security estates? This powerful trend towards community living – driven largely by the growing desire for security and luxury lifestyle amenities – has created a huge opportunity for homeowners and property investors.

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It’s also created a huge opportunity for Community Managers.

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The fact is: very few trustees have the time, skill or availability to do what it takes to create and maintain safe, secure, comfortable, and compliant communities. Instead, they’re increasingly turning to the property management industry to fulfil these needs. This has led to skyrocketing demand for capable Community Managers willing and able to grow their portfolios.

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But growth is not without its challenges.

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Our Q4, 2022 survey revealed that growth was not only the number one priority for community managers in 2023, but it was also one of their greatest concerns. Why? Because growth typically brings an equal – if not greater – increase in effort and overheads. (Particularly in light of growing compliance obligations, ongoing municipal service delivery challenges, rising debt levels, and more first-time buyers requiring handholding through their community living obligations.)

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Unfortunately for most Community Managers, this increase in effort and overheads is seldom met with a corresponding increase in compensation. In fact, 43% of our survey respondents reported losing business last year because of client pushback on fees.

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Does that mean Community Managers are doomed to grow their businesses only by doing more work for lower fees than ever before? According to the statistics, the answer to that is a resounding “No!”.

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In fact, the exact opposite is true.

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Our statistics show that those Community Managers who raised their per-unit management fees the most last year also experienced the highest portfolio growth. What are these businesses doing that their underpaid colleagues are not? It all boils down to value: value expected, value delivered, and value perceived.

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You see, price only becomes an issue when value is called into question. Those Community Managers who prioritise understanding, delivering and communicating their full value to their clients are not just getting paid more, they’re also winning more business.

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How can you do the same? Good question! We’ve unpacked the answers in detail in our latest eBook.

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In short, you’ll need to consider three, key elements.

1. ‍Positioning – Move the spotlight off your admin skills and onto your expertise and outcomes, using language your clients care about: lifestyle benefits, ROI, and risk reduction.
2. ‍Service delivery – Empower your Community Managers to be ambassadors of value, using technology to support and streamline key workflows, improve access to information, and enhance their ability to visibly influence the KPIs of their communities.
3. ‍Business efficiency – Do more with less by enhancing team cohesion, automating repetitive tasks and processes, implementing standard operating procedures, and proactively monitoring business KPIs and red flags.

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It sounds pretty easy when it’s laid out in black and white, but the reality can be a little more complex to navigate. That’s one of the biggest reasons behind the creation of WeconnectU – providing the tools you need to take advantage of the astounding opportunities today’s industry offers.

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Together, we can not only unlock your ability to grow your portfolio and your profits, but also rekindle your passion for a business with unlimited potential.

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Open the door to opportunity. Join WeconnectU today.

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Download our Community Management eBook for more detail on how to build a growth-positive community management business or visit weconnectu.co.za.

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