Seven Essential Qualities to Look for in A Property Manager
Some landlords often struggle to decide whether or not they should hire someone to manage their rental property. After all, who will look after your investment better than you can? Although the search for a good property manager may be tedious, it’s one that is well worth it once you find the right fit. Getting someone to look after your rental property means you won’t have to deal with the stress of tenant screening, maintenance and much more. So, for landlords on the hunt for the perfect property manager for their rental, here are seven essential qualities to look for.
1. Excellent communication skills
It goes without saying that the person or team you choose to manage your rental property must be excellent communicators, both oral and written. Your property manager will represent you and will be in constant communication with everyone from tenants and real estate agents, to contractors and possibly other property owners. This means that their ability to communicate effectively will affect the service you get from contractors, the quality of tenants attracted to your property, how fast your property is rented and everything in between. So, when looking for the right property manager, be sure to assess their communication skills.
Property management can be stressful at times. From unruly tenants to contractors running behind schedule, there are lots of trying situations that property managers encounter on a regular basis, and it’s essential to be able to handle them with grace. When interviewing potential property managers, try to gauge their listening skills and assess how well they’ll be able to deal with complaints and stressful situations.
Professionalism is another important quality to look for when on the hunt for the right person to handle your rental. Needless to say, your property manager will be conducting a lot of business on your behalf, and they’ll need to be kind yet assertive in these settings. Look for someone who is respectful, knowledgeable, well put together and has excellent customer service skills.
4. Tech Savviness
Anyone who is active in the real-estate world knows that the industry is quickly becoming digital. New technologies are being introduced, companies are focused on digital marketing, and rental ads are now posted on platforms like Hamilton Homes for Rent, rather than in newspapers. Having someone who is familiar with common technology used in the industry will ensure that you’re able to provide a service comparable to other property owners in the market.
The work of a property manager often has them dealing with a lot of different situations simultaneously. They could be renewing a lease, renovating a rental unit, overseeing eviction proceedings, and scheduling viewings of a recently vacated home all at the same time. Property managers have to be incredibly organized in order to stay on top of all the demands that come along with the job.
6. An investor’s mindset
When searching for a property manager, you want to choose someone who is going to care for your investment as if it were their own. The best way for property managers to do this is to approach property management like they are real estate investors. This will help them see the “bigger picture” and guide the business decisions they make on your behalf. When a property manager has an investor’s mindset, they’ll know what to spend money on to make your rental stand out in the market, when to offer rent concessions, how to get a good return on investment etc.
7. Basic marketing skills
Marketing your rental property to potential tenants is one of the biggest responsibilities of a property manager. They should be able to write about your property, select appropriate photos and point out its selling points in such a way that that your rental appeals to renters. A good property manager should also know about the community your rental is located in as this will help them market its most attractive amenities.
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