Seldom is the life of a property manager a smooth or easy one. From dealing with leaky faucets and toilets, broken water heaters and air conditioners to tenants who don’t pay on time. Property managers are constantly faced with many challenges including late or unpaid rent, unpaid gas and water bills, accounting and bookkeeping challenges, keeping open and clear communication, lease and management renewal contracts, and not to mention the occasional appearance at your local civil court system. It makes you wonder why they choose this life!
There are many benefits and rewards to property management though, and being a successful property manager takes commitment and dedication. It is not a Monday-Friday 9:00 to 5:00 career! A property manager must be a talented juggler of many tasks, keeping both owners and tenants satisfied. In addition to keeping a property maintained and attractive, a property manager is responsible for preserving the value of the real estate.
One of the most important qualities a property manager should possess is the ability to work well with people. Negotiation skills are a must in working out issues with angry tenants or persuading an owner to make improvements to increase or maintain a property’s value. A friendly, positive attitude, coupled with above-average customer service skills, are necessary to build relationships with existing clients and tenants, as well as potential new ones. The ability to communicate clearly and concisely, both verbally and in written form, is a requirement for a successful property manager. Also being organized is a must! Working with multiple properties and tenants requires excellent organizational skills. A property manager must have contact information for both owners and tenants within reach at all times, along with phone numbers for maintenance staff, contractors, etc…. A property manager maintains a calendar of due dates for inspections and lease payments constantly.
Being successful in property management shouldn’t stop there. Keeping focused on how to grow and become a leader in the industry is the sign of a great company. Being open-minded, collaborative and continuously looking to improve their service offerings and customer service is what I see as key.