Navigating Your Path: Job vs. Career in the Rental Housing Industry
Synopsis
Skills to Grow Part 1
In the dynamic world of the rental housing industry, there is a difference between having a job and building a career. While some employees might view their roles as short-term engagements spanning just 2-3 years, many others find long-term career paths. Either option is perfectly normal, as the industry offers valuable experience and skills that can either anchor one’s professional journey or serve as a stepping stone to opportunities in other fields. There is a distinction between a job and a career. Understanding this difference helps in setting realistic expectations and career planning for both employees and employers when it comes to nurturing personal growth and professional fulfillment.
As part of Texas Apartment Association Education Foundation’s job seeker outreach campaign, Room to Grow, we believe that the Texas rental housing industry offers valuable skills and experience, even if the journey ahead is undecided. As we launch our new, “Skills to Grow” series for both job seekers and industry employees, we wanted to share our thoughts on what sets a job apart from a career, and how you can transform your passion into a long-term career in the rental housing industry, should that be the path you pick.
Defining a Job vs. a Career
A job is often viewed as a short-term position primarily for earning money, and with a focus on a role or more immediate set of tasks or responsibilities. It’s something you might do to pay the bills, gain initial experience, or fill a gap in employment. While jobs are essential stepping stones, they do not offer long-term growth and personal investment opportunities.
A career, on the other hand, is a professional journey. It’s about building skills, advancing through various roles, and finding fulfillment in your professional goals and ambitions. A career involves a series of connected employment opportunities, where you leverage your skills, passions and experiences that lead to professional progress.
Why Choose a Career in the Rental Housing Industry?
The rental housing industry offers a combination of jobs and careers. While one may step into a job for a specific role, it can now evolve into a rewarding career with vast growth potential. In this vibrant and diverse sector, a 2 to 2.5-year tenure is now considered a significant milestone, pushing the boundaries of prior generations who spent decades in one job, as a career. The workforce has, and is still evolving, and we now have an ever-changing definition of tenure, opportunity, and success.
Diverse Career Paths
Careers in the rental housing industry are now customizable, depending on your personal goals, and are no longer a straight path. With a variety of roles to choose from, job seekers and industry employees alike can choose to build a career based on their interests in departmental areas such as:
- Marketing: Creating and executing strategies to attract and retain residents.
- Finance: Managing budgets, investments, and financial planning for apartment communities.
- Information Technology (IT): Implementing and maintaining systems that enhance operational efficiency and resident satisfaction.
- Property Management: Overseeing day-to-day operations and ensuring properties meet the highest standards.
- Maintenance: Ensure that apartment homes and facilities within an apartment community are in good working order and maintained to standards.
- Human Resources (HR): Supporting the development and well-being of employees within the industry.
Alternatively, a career can be built across departmental functions, creating broad knowledge and experience across the sector.
Regardless of where you find yourself in the multifamily industry, the Bureau of Labor Statistics reports that the employment of property, real estate, and community association managers is projected to increase 7% from 2020 to 2030, faster than the average for all occupations, highlighting the potential for growth and stability.
Turning a Job into a Career
If you love your job in the rental housing industry, there are several steps you can take to turn it into a long-term and lasting career. This involves strategic planning, continuous learning, and proactive steps to advance professionally. Here are six tips to help you make the transition:
#1 Set Clear Career Goals
Define what you want to achieve in your career and professional development. Identify short-term and long-term goals, such as acquiring specific skills, earning certifications, or moving into higher-level positions. Having a clear vision will guide your decisions and keep you motivated.
#2 Invest in Continuous Learning
Stay updated with industry trends and advancements. Participate in training programs, workshops, and courses relevant to your field and that fuel your passion. Certifications and additional education can make you more valuable to your employer and open doors to new opportunities, including those at your local apartment association and at the Texas Apartment Association (TAA).
#3 Seek Mentorship and Networking Opportunities
Find a mentor who can provide guidance, share experiences, and offer advice on career advancement. Attend industry events, join professional associations, and engage in networking activities to build relationships with other professionals in your field. Your local apartment association is a great place to start!
#4 Take Initiative and Show Leadership
Demonstrate your commitment and capability by taking on additional responsibilities and leading projects. Show initiative in problem-solving and contribute ideas to improve processes. Employers value proactive employees who can lead and drive results
#5 Regularly Review and Reflect on Your Progress
Periodically assess your career progress and accomplishments. Reflect on what you’ve learned, the skills you’ve developed, and areas where you can improve. Adjust your goals and strategies as needed to stay on track and continue advancing in your career. A good rule of thumb is to set clear, measurable goals at the beginning of the year, complete a mid-year check-in to see what areas may need more attention, and then look back and reflect on your accomplishments at year-end.
#6 Consider Roles Outside Your Department
While the classic view of career advancement might have happened traditionally within a department, today, if you have earned or have experience in other departmental skill sets, consider raising your hand or participating in cross functional projects, helping provide incremental professional exposure and opportunity.
The rental housing industry is more than just a place to work—it’s a place to build a meaningful and rewarding career. We encourage you to be brave and take the first step towards turning your job into a career. Invest in your professional development, explore diverse career paths, and take advantage of the growth opportunities within this dynamic and thriving industry.
Join us on this journey and discover how you can grow your skills and advance your career in the rental housing industry with the TAA Education Foundation (TAAEF) and Room to Grow. Together, we can build a future where every job is an opportunity for lasting career success.