5 Traits of a Great Property Manager
A great property manager can be hard to come by. In today’s fast-paced, social-media centric society, consumers and renters crave and demand instant gratification – they are ephemeral.
That being said, property managers must constantly be on their toes and ready to take on anything! Not only must they be ready to draw in and lease to rent-ready prospects, but they must also always roll with the punches to satisfy current renters. Leaky toilet at midnight? Be prepared for a call. Can’t find the mailbox key. Better be on it. Locked out of your apartment? Must be prepared! Property managers deal with these scenarios (among thousands of others) daily.
Here are 5 tips to being a great property manager that you and your team should keep in mind.
Communication is KEY! Property managers deal with tons of people (at all hours of the day) from all walks of life. Some may speak different languages, have different personalities, different needs, and different backgrounds. Therefore, those in property management need to have impeccable communication skills. Staying calm and speaking professionally is a top priority. A lot of times, this includes PATIENCE. Residents must always be kept in the loop on things like office closures, maintenance, payments, etc. Additionally – property managers must keep said communication timely. When a work order is submitted, the resident should be notified immediately that their work order has been received and that the issue is being worked on. When a parking lot is being worked on, residents should know of any alternative routes to take ASAP. These are just examples, of course, but the list goes on and on. Keep in mind that with communication comes listening. Sometimes, the best thing a property manager can do for a current or prospective renter is to ensure them that their voice is being heard and that the community is doing everything possible to make their living situation a comfortable one.
Property managers often have to deal with questions, comments, complaints, and concerns from dozens of renters and prospects daily. Not only must property managers make sure their current renters are happy, make sure the rents are coming in on time, and make sure that work orders are being fulfilled, but they must also work on bringing in NEW renters as well. Organization comes in handy daily through things like lease expirations and renewals, background checks, security deposits, invoices, etc. A skilled property manager must be organized and make sure they are hiring organized staff members as well! If you are impatient, anxious, edgy, or bad with tight deadlines and daily interaction with “customers,” aka your residents, you may want to reconsider your future as a property manager. Do you think you have what it takes?
3. People Person
One of the best gauges of a property manager’s level of quality is the way they interact with people. This does not mean just their renters. This means current renters, prospective renters, renters moving out, maintenance, vendors, other staff, lifeguards, towing companies, plumbers, carpenters, etc. Managing an apartment community is a large undertaking, and men/women that do not have a happy, approachable, “can-do” attitude will find it hard to not only retain residents but to draw new ones in. A personable property manager must be able to handle the fast-paced nature of community management and make the process of signing a lease and moving in an easy one. Let’s face it – moving is a drag and a hassle. When people move into an apartment, the last thing they want to deal with is an unhelpful property manager with a sour attitude. That said, go the extra mile to make your renters feel welcome! Perhaps a gift basket with community “swag” when they move in? Maybe a couple of take-out menus from your favorite local restaurants? At the end of the day, a “people person” property manager is always easier to work with than a grouch!
Think about it. What are all property managers typically doing the first week of every month? Handling other people’s money! They collect rents, security deposits, and more. Property managers need to have the utmost understanding that the renters come first. They must always act with the highest level of integrity. As a property manager, they a lot of complaints are heard daily. While it may sometimes be easier to dance around the issue, a property manager must always be upfront with the renter – even if it’s something the renter doesn’t want to hear. The washing machine can’t be fixed until Tuesday? Tell them ASAP so they can make other plans. The rent check won’t be deposited for another day? Let them know. Not being 100% truthful with renters can lead to mistrust and lower resident retention rates.
Having a reliable property manager takes the burden off of many people – the staff, the property owners, the renters, the prospects, etc. When a tenant asks something of a property manager or needs help with a certain issue, they should feel confident that their property manager is taking their struggle into consideration. This can be anything from a missing trash can, a broken lock, a bug problem, a noisy neighbor, etc. Property managers must come through for their residents and be viewed as someone who can quickly and effectively solve problems. Now, the world isn’t perfect, and problems aren’t always easily resolved. However, as long as a renter knows that you, as their property manager, are in their corner and working your hardest to make their stay at your property a happy one, then you have done the best you can!
Among others, these five qualities are staple traits of a great property manager. Moving into an apartment is, let’s be honest here, never the most fun and can make for a very stressful time in someone’s life. Working with a quality property manager can make the experience so much more positive – maybe even fun! An organized, honest, reliable, personable property manager with good communication skills is pure gold!