How to spot a great property manager
Don't be a good Property Manager be Great
Wondering how to be a great property manager? Being respectful, organized, and efficient will make residents and your management company love you!
If residents aren’t high-fiving you every time you show up to the property you manage, there’s work to do. Whether you’ve been working as a property manager for most of your career, or you’re new to the field, you can always improve.
But how do you know what skills or personality traits equal success? Do you know how to be a good property manager? What does it mean to be good, even great?
To start, treat different properties according to their specific needs. If you previously were the property manager for an apartment complex and are now working for a condominium management company, your residents and their needs will be different. So will contracts, bylaws, and many other factors.
Identify the differences, and you’re on the right track for becoming one of the best property managers in your area.
How to be a good property manager – a few tips
As a property manager, it’s your responsibility to manage an organizational system for the condominium and condo owners’ association.
Being organized is one of the most important things you’ll need to do as a property manager. If a new or prospective tenant shows up to your office and sees piles of work orders everywhere, held down by a fortress of old moldy coffee cups, it doesn’t instill confidence that their maintenance issues will be attended to in proper time. Keep all vital records filed and stored according to regulations. Maintain a log of any financial transactions. Be detailed with your schedule, keeping all appointments. If you’re doing any marketing for the rental property, be sure to keep detailed reports.
Regardless of what your monthly KCIs may be, track them from month to month. A property management checklist can help keep you organized and on track.
Remember, organization isn’t just about keeping files tidy, it’s also about knowing and using the best digital tools to manage your office.
Be clear and communicative
But those aren’t the only types of people you’ll regularly speak with. When rental properties come up for rent, you’ll meet with prospective residents. They’ll have plenty of questions. Know your property and be specific in your answers. More than anything, new tenants want to feel welcome and informed.
Vendors are also another group of people you’ll be speaking with regularly as a property manager. If they haven’t received all the information they need from the condo association, they’ll turn to you for answers. You may need to supervise their work, and you’ll definitely need to keep files of invoices received and paid.
Remember to always be respectful and clear regardless of who you may be communicating with.
Ask for feedback
Once a year, around the time you’re up for your annual performance evaluation, take the time to survey your residents with a brief questionnaire asking them to rate you on specific skills and provide any additional feedback.
Most importantly – if you’re going to ask for feedback from your residents. Be prepared to work on any suggestions they may have for you. Don’t waste their time – and your time – by asking their opinion and ignoring their advice. If you want to learn how to be a good property manager, you’ll have to ask the correct people, and trust their opinions.