Being a property manager can be very demanding. Tenants, owners, coworkers, maintenance technicians – someone is continually trying to find you. It also takes several different skills to balance your daily responsibilities and tasks. But property management can also be rewarding if the stress doesn’t consume you.
To help you become a stress-free property manager, the best property management company gathered their property managers to compile a list of tips thought out to help you.
Tip #1: Know Your Properties Inside & Out
It is vital to be very knowledgeable about each specific property that you manage to answer all questions asked by potential renters.
Get to know the property and learn about its unique quirks or qualities. It helps you provide detailed information to renters, it shows you have physically been on the premises, and it saves you precious time by not needing to look it up every time.
Knowing about the neighborhood is good, as well. It allows you to provide prospective clients with important information such as nearby shopping centers, restaurants, freeway access, and so on. That helps them decide if it is a place they would like to live in. Avoid sensitive subjects such as school districts, crime rates, racial population, and churches in the area. It is considered illegal steering to provide information on these.
Those interested in renting in that area have to do their own research and make the best decision by themselves. Knowledge is power; the greater your knowledge is from each specific property, the higher your success will be renting it, as well as keeping a good rapport with the renter and owner.
Tip #2: Be Available and Dependable
Being dependable is very beneficial to becoming a successful property manager.
It is important to respond promptly to e-mails and phone calls. You will be busy if you are managing several properties. Being available when tenants and owners need to reach you is essential. It makes the client trust that they can rely on you and fosters trust within your business relationship.
Everyone has a life outside of work. You don’t share your personal mobile number. As long as you keep yourself available on your e-mail address as much as possible during business hours, that is sufficient.
Organization and time management are also very important in being dependable. Make sure you schedule your meetings accordingly to accommodate your clients’ needs.
Finally, people skills are of great quality. You will work with numerous people. It is your job to keep them all satisfied. You will surely meet unhappy folks. Give them all a positive customer service experience.
Tip #3: Practice Good Marketing Techniques
Managing property is not about working in sales. On the other hand, you need to sell owners on your capabilities. Owners should trust that you will succeed in renting their property to quality tenants.
You also need to raise prospective tenants interest in the property. Tenants need to be intrigued by it.
This is where marketing enters. The internet is your best friend. Many renters use it for hunting for apartments and houses. For us, the best sites to advertise our listings on are Facebook, Zillow, and Craigslist. Make sure you have detailed descriptions, useful information, plenty of good-quality pictures.
Tip #4: Work with a Great Team
All of the responsibilities of a property manager are too many for one single person to take on. The more resources you have for tenants and owners to make use of, the more satisfied they will be.
You could implement the tier system: property manager, assistant property manager, and leasing agent.
The property manager handles owner-related and delicate issues. The assistant property manager is the point of contact for existing tenants. The leasing agent handles rental inquiries and schedules property showings.
This way, there is a specific person for clients to speak with. Plus, issues are solved quicker. It is also important to have accounting, insurance, and maintenance departments in order to handle specific issues.