If you are running a business in the property industry, you may have the need to find a property manager to help you manage your buildings and handle tenancy placements. Whatever your reason for seeking our a property manager, you have come to the right place, because this guide has everything you need to know about what property management is and how you can find a suitable one for you.
What Exactly is Property Management?
The world of property management refers to the career pathway wherein one’s main duties and responsibilities revolve around the entire management of more than one property, either in a residential setting or a commercial setting. In some cases, it could be a mixture of both.
What Does a Property Manager Do?
With such a diverse and multi-faceted role, a professional property manager must have required licenses and certifications for the state in which they tend to operate, and there is a myriad of different roles and duties involved.
Such responsibilities include, but are certainly in no way limited to:
- Supervising staff and hiring staff that work on anything related to the property
- Management of both buyer’s and prospective tenants’ building inspections
- Preparation of thorough and consistent reports on the status of properties for various stakeholders
- The setting out and the collection of various fees, including rent
- Planning and carrying out regular property valuations
- Property maintenance and arrangement of repairs
- Addressing tenant issues and complaints
- Negotiating advertising and marketing packages and the exact terms of the lease
How to Find a property manager?
When it comes to finding a property manager, you have a choice. You can reach out to an independent manager and hire them as part of your team or you could outsource the work to another company, like this DC property management business. When it comes to making a decision, you want to ensure that they have a particular set of skills.
Skills & Attributes Necessary for Property Management to possess
There are more than a few skills and personality attributes, while not altogether mandatory, that are certainly necessary for a successful and long-term property manager to have and for you to look out for.
Such skills include, but are not limited to, the following:
- Strong Sales Skills
A huge part of the daily duties of a property manager involves making each and every property as attractive and financially viable as an investment as possible, so excellent skills at selling are exceedingly important.
- Natural Time Management
Time management is part and parcel of one of the more necessary skills required to manage multiple properties, as their diaries will be full of appointments and obligations which they need to schedule accordingly. If they can’t handle their time well, they aren’t going to be helpful to you.
- Analytical Skills
Another useful skill they should have is an eye for detail, which is important for many different aspects, not least to secure deals with clients and buyers. If they can focus on all the small aspects all well as the big, you are going to have the most success.
If they possess all these skills and they have top reviews, they are a good choice.