A property manager must be a skilled juggler of numerous tasks, keeping both landlords and tenants happy. In addition to keeping properties maintained and in good shape, they are responsible for preserving a rental property's value.
Although this job only requires a high school diploma, many customers will opt to work with a specialist who has a degree in real estate, finance, or business.
We've put together a list of professional qualities a property manager needs hold to make the most out of a successful career.
1. Education and experience
Property managers are responsible with preserving and even increasing a property’s value on the ever-changing market. While a degree is not a requirement, it’s always better for managers to have a bachelor’s degree or a diploma which might help them with certain aspects of their job like accounting and marketing.
Taking courses in business, accounting, real estate, or marketing can be very useful to anyone who wants to grow as a professional.
For someone just starting out in the business, consider assisting an experienced principal or property manager in order to learn the ropes and develop the necessary qualities. Having previously worked as a broker or a sales agent can also be helpful, as these jobs have some things in common with managing properties.
2. Good communication skills
One of the most significant qualities a property manager should have is the ability to work and communicate well with people. When dealing with unhappy tenants or persuading landlords to make upgrades to a property can be challenging and it’s essential for a manager to put his negotiation skills to work.
A positive and friendly attitude combined with quality customer service skills, are key in building fruitful relationships with existing tenants and property owners. Being able to communicate concisely and clearly, both in written form and verbally, is a requirement for becoming successful in the industry
3. Organisational qualities
Managing multiple properties and communicating with many tenants requires great organisational skills. A good manager will have a detailed database for tenants and owners that can be accessed at all times. This database should contains names, phone numbers, addresses, and details about the maintenance staff, vendors, and contractors.
Furthermore, a good property manager will have no problem coordinating several projects simultaneously and developing suitable timelines for all property maintenance tasks. A calendar of all due dates of rent payments, inspections, and repairs is also essential alongside reviewing tenancy applications, signing leases, paying bills, preparing financial reports, and presenting lease renewals.
4. Being detail-oriented
Great property managers will always pay close attention to details that protect both landlords and tenants. They must current with all state laws and regulations related to fair housing and handicap accessibility.
Additionally, they must ensure that there are no safety hazards that could lead to unwanted lawsuits. In order to prevent any issues with managed properties, a manager will perform regular inspections and handle all required repairs in a timely manner.
Do you want to simplify the tedious process of inspections, maintenance and repairs? Register your agency for free at Bricks + Agent.
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