A property manager handles the day-to-day operations of a real estate investment. When you’re a property manager, you have to make sure property owners are making money, the contractors are doing their job, your tenants are happy, and more.
Although tremendously tasking, the property management business can be highly rewarding. But it isn’t for everyone. You need a specific set of skills to be a successful manager.
Here are 7 keys to a successful career as a property manager:
- A property manager knows attitude is key.
A great attitude is one thing common to all successful property managers. In fact, studies show that happier people achieve greater success at work and in life.
A rigid, pessimistic attitude prevents someone from experimenting with an out-of-the-box solution or approaching a problem from a different angle.
2. A property manager is dependable.
You need to be dependable. It’s important to respond to emails and phone calls on time. Regardless of the number of properties you’re managing, you need to be available when tenants and/or owners need to speak with you.
This way, your clients feel confident they can rely on you.
3. A property manager is always organized and professional.
According to Bridgepoint Property Management, organization and planning skills are very important to move up the career ladder. Having clear and well-defined processes can help minimize confusion. They can also help you work more effectively and efficiently.
And don’t forget, your professional skills are also very important. You need to be professional in your dealings with people, be it your staff, tenants, owners, or other professionals.
4. A property manager knows their properties inside and out.
With adequate information about the properties under your watch, you’re able to identify any unique qualities or quirks the property has. You’ll also be better placed to answer any questions potential renters may ask.
Knowing about the general area is helpful, as well. It’ll help you provide valuable info to tenants such as nearby restaurants, shopping centers, freeway access, etc.
5. A property manager knows how to leverage on technology.
A good property manager can become great by learning how to use technology to his advantage. You can harness the simplifying power of technology to make your job easier.
Here’re are other benefits of leveraging on technology:
- Property management software makes background tenant reports instantaneous for leasing agents, owners and property managers.
- Social media management software allows a residential property management company to market to multiple engagements.
- Online rent payment solutions make rent payments convenient. Tenants can pay from anywhere so long as there’s an internet connection.
- Useful, web-based applications can manage everything from contact forms to tenant screening.
6. A property manager knows the importance of networking.
Through networking, you can discover new opportunities and build your customer base. Here’re some of the key benefits of networking:
- Widens your support network.
- Facilitates exchange of information.
- Raises your profile. Regularly attending social and professional events will help get your face and name known.
- It’s a treasure trove of fresh ideas.
- Strengthens relationships.
Social networks, such as LinkedIn, can be a good place to start building connections.
7. A property manager practices good marketing technique.
Tenants need to find a property intriguing. And they can’t be intrigued if your marketing skills are wanting. As such, to succeed as a property manager, good marketing techniques are key.
One important resource to utilize is the internet. Unlike before, tenants are now hunting for houses/apartments online. The best websites to advertise listings on are Facebook, Zillow, and Craigslist.
Other strategies to improve marketing include:
- In-person touch to boost word-of-mouth referrals. Go to local rental property association meetings, community meetings, and other town hall meetings to mingle with owners and residents.
- Affiliate with local business to boost marketing reach.
- Use local SEO (Search Engine Optimization) to boost discoverability in search engines.
- List your services on your website so owners can easily hire you.
- Invest in content marketing to provide helpful information to new property owners.
Needless to say, it’s going to take a lot of hard work on your part to be a successful property manager, but you can do it! Use these seven proven keys as your starting point. You’ll be glad you did!