Long-Term Benefits vs. Short-Term Gratification

Property managers must resist the temptation to prioritise short-term gratification over long-term financial sustainability. While it may be tempting to allocate reserves and contingencies to address immediate needs or appease disgruntled leaseholders, property managers should always focus on the long-term benefits and value for the property. This is easier said than done and there is likely a fine balance to be had. But ensuring you stick to your ethical best practices is key to being an good and effective property manager.