Tyhler's academic journey began with aspirations of becoming a teacher, but one semester into her education program, she realized teaching wasn't for her. Fate intervened when she crossed paths with Fred Prassas, CPM®, program director of the real estate property management program at UW Stout. Curious about all things real estate-related, Tyhler took some courses and found herself interested enough to learn more.
Internships: A launchpad to success
Tyhler's journey to a successful career wasn't only paved by academic coursework. Her internships played a pivotal role, allowing her to gain practical experience in residential housing. Her stints at Wiedner and Oaks Properties equipped her with invaluable insights into the industry, setting her up for success even before her graduation in December 2018.
Seizing opportunities and making strides
One day, Tyhler attended an Advancing Leaders of Minnesota (ALM) event, where she expressed her desire to venture into commercial real estate to another guest. Little did she know this interaction would lead to a job offer that kick-started her career managing office space in downtown Minneapolis, at Butler Square with McGough Facility Management. Over the course of 3.5 years, Tyhler honed her skills and insights, while at the same time being mentored by then-IREM Minnesota Chapter President Angela Samargia. Today, she's with Ryan Companies US, Inc., where she manages a diverse range of properties including office, medical, and retail spaces. Her success was celebrated by her recognition as an IREM 30 under 30 property manager in 2022.
A day in the life of a property manager
Tyhler's daily routine involves a mix of responsibilities aimed at ensuring the smooth functioning of the properties under her care. She produces accounting reports for building owners, manages invoices, monitors rental accounts receivable, oversees construction projects, and ensures tenant satisfaction. Her role involves a delicate balance of strategic planning and hands-on management.
Navigating the evolving landscape
In recent years, the property management industry has undergone significant changes. Tyhler points to Minnesota's push towards carbon neutrality by 2040 and the increasing adoption of sustainable practices. The introduction of EV chargers in buildings and initiatives like mandatory composting reflect the industry's commitment to environmental responsibility.
Technology advancements also play a major role in the evolution of the profession. As the world embraces technological innovations, especially and most recently in AI, Tyhler recognizes the potential impact these technologies can have on the future of property management. While the full scope remains uncertain, it's crucial for professionals to stay informed and prepared for potential shifts in the industry.
Addressing contemporary challenges: Cannabis and more
The legalization of marijuana has sparked complex challenges for property managers in Tyhler’s region. She and her colleagues are maneuvering the complexities of accommodating cannabis-related businesses, including insurance complications and infrastructure requirements. Drawing parallels to the experiences of states like Colorado, Minnesota grapples with similar issues and seeks solutions to ensure the smooth integration of this burgeoning industry.
The power of professional organizations: IREM's influence
As an active IREM member, Tyhler highlights the significant role the organization has played in her career growth. Beyond providing continuing education opportunities, IREM offers a platform for networking, mentorship, and staying updated on industry trends. Tyhler's involvement with IREM's membership committee includes attending her Alma Mater, UW Stout to connect with the student community to motivate student memberships and foster the next generation of property management professionals.
The future of property management: A bright path ahead
Property management remains a fulfilling and ever-evolving field. Tyhler’s advice to aspiring property managers is a testament to her passion: "I love my job and what I do. Every day brings something new. If you're seeking a dynamic career that offers variety and avoids the monotony of a desk job, property management might be your calling. Remember, property managers are the invisible architects behind every functional building. The rewards are limitless."