Are you looking for a career in property management? Or perhaps you already are a property manager in search of ways to get better at your trade; in that case, it is about time you step up your game.
If you aren’t a property manager yet, relax! There are no hard and fast rules or requirements in terms of academics for being a property manager.
You have to be well-versed in the real estate market, related laws, what residents want as well as what the investors need in this day and age.
Why Do People Choose to Become Property Managers?
Property management is a great career path because you get to manage an entire portfolio of properties and be responsible for pretty much everything that goes on related to them.
This includes collecting rent, scheduling maintenance, finding renters, and looking after vacant units.
So, you aren’t stuck to a desk all day, and there aren’t many chances of getting bored because something or the other will always keep you busy, and you get to work closely with many people, i.e., residents, owners, and others.
Best of all, you don’t need a particular degree to do this job – demonstrate your reliability and dedication, and you are hired!
It also doesn’t hurt to cultivate some good personality traits that can help you on the job. Let’s talk about some of these traits to make you an outstanding property manager.
Being organized does not mean being a perfectionist – all it means is that you have everything in order. Keeping everything systematic can help you make sense of work and ensure that you are at the top of things even when you’re stressed out.
It can help you discern potential problems at a glance –making it easier for you to figure out solutions.
A rule of thumb is to record everything, name it, and store it in designated files or folders in a systemic fashion. This way, you’ll know where to look and what to compare it against when the need be.
Schedule everything. Learn how property managers can improve time management at the office.
It isn’t the 90s anymore – you don’t have to keep rooms full of paper records to keep track of everything. Your systems shouldn’t require large teams of people to manage, and you don’t have to send telegrams or post letters to communicate.
Nor is it the 2000s, when you had to depend on desktops to communicate electronically or write lengthy formal emails for correspondence.
You are living in an era where you carry a computer with the power of multiple cores in your pocket – your phone can do anything your computer can.
Internet and connectivity are essential faculties for modern businesses; make the most of it.
Use technology to manage your work and develop excellent research skills. Knowing how to build and maintain digital systems using phones and laptops is a much-needed skill for a property manager.
Good Communication Skills
You will deal with all sorts of people in this business, and it is imperative that you communicate with them effectively. You will be managing tenants, attracting new renters, and keeping the proprietor updated, among other things.
Your employer or client will need to be updated with your work on a daily, weekly, and monthly basis. And you will need to use your communication skills to the best of your abilities here.
Unless, of course, you want them to explode on you.
In which case, by all means, reply with a period when they send you an instruction. Send question marks when they ask you something. Or better yet, leave them on seen.
Jokes apart, keep them informed about everything you do, and ask them before taking any steps they might consider significant.
Just informing the client won’t be enough – your behavior, attitude, and the way you handle certain situations says a lot about you. You have to be diplomatic and know your priorities. Diplomacy will come in handy as you might be bridging the gap between residents and proprietors.
You will face disputes, bad residents, and might even have to resolve conflicts between occupants to keep things on track.
Your communication skills will also help you when you have to attract potential clients, show residents around vacant apartments, and build links among relevant maintenance services. That will be more like salesmanship.
Attention to Detail
Handling a property that belongs to someone else is no joke.
You have to bear in mind that the things you might’ve neglected if the property was yours, might matter to the proprietor or the resident – some issues that might seem insignificant to you can get you in legal trouble with the client.
Even minor repair and maintenance issues can cause major chaos.
Maintenance is usually more about a dozen minor issues than one major problem – keeping an eye on each of them can prevent a lot of trouble.
Patience and Persistence
Patience is of the utmost importance when it comes to dealing with people – especially when accountability is involved.
A lot of things will test your tolerance as a property manager.
For example, residents vandalizing property, fight or substance abuse inside the premises, a grumpy tenant demanding repairs urgently, or trying to get rent from that one occupant who managed to escape you the entire week – and the list goes on.
To top it off, you will have legal issues to deal with to make sure the property and the proprietor stay compliant with the relevant law.
Ready to Explore this Career Option?
Becoming the best property manager is possible, but it requires you to build an energetic, flexible, charismatic, and diplomatic personality.
You will need training, practice, and a strong character to become a good property manager, but we assure you that once you get there, results can be promising, and a rewarding career awaits you.
So, go ahead and prepare yourself for the rollercoaster ride of a lifetime in a fulfilling career.