Whether you own multi-family residential or commercial shopping centers, property management is a challenging, ongoing role that keeps you occupied with maintenance, tenant search, issues, and more. You don’t need to be a superhuman who works like a machine and doesn’t sleep to become an outstanding property manager. What sets successful property managers apart from the rest is that they’re able to work out ways to be more resourceful and efficient at their jobs.
Let’s take a look at some of the most common habits of talented and experienced property managers:
They Stay Informed
One of the most common qualities of a property manager is that they keep themselves updated with the latest residential and commercial real estate trends, including changes in laws, local rental rates, etc. They know that property owners and investors look for property managers who stay on top of market dynamics, so they don't lose any learning opportunity that comes their way.
They Communicate Effectively
Experienced property managers know that they can’t possibly connect with prospects without leveraging innovative means of communication. They create templates to streamline their communication process with property owners, investors, tenants, and service vendors.
One of their best strategies is to create and upload templates on their property management websites. For example, it’s common for them to post-maintenance request forms on their platforms. This simplifies tenants’ duty to submit service requests.
They’re Forward Thinkers
The most talented property managers also think proactively. They keep looking for ways to adapt their property to technological advances such as mobile, cloud, and software solutions that make their function more efficient. Many property managers are already receiving service requests and tenancy applications right on their smartphones via mobile app.
They Don’t Delay Tasks
Instead of procrastinating on critical property management obligations, competent property managers get things done as soon as they are due. They’ll use their experience and intuition to prioritize tasks and proceed accordingly.
They Ensure Proper Tenant Screening
Property managers who’ve been in the business for a while know how certain tenants can make their lives miserable. To avoid regular landlord-tenant issues, they set up a robust tenant screening process with steps like background checks, documentation, and preliminary screening made automated and a final vetting of tenants conducted on their own.