4 Important Skills for Property Managers
Property managers are often tasked with wearing multiple hats. This can mean performing financial analysis and budgeting one day, to vetting contractors or building a marketing campaign the next. Mastering all around skills is an important part in developing into a great property manager. Here are 4 skills that every property manager can focus on developing.
Your tenants depend on your availability when they have a time-critical issue. Being available is an important part of giving great service. Consider providing an email address and a business cell number that receives calls and texts at any time. Also let tenants know in what timeframe they can expect a response, and then be diligent about following up within that window. This is true for both major and minor projects and it is important to develop a track record of delivering on time.
Build a Great Support Team
When you’re not available, your team is the face of your property management company to tenants or prospective tenants, so building a great support team is key. As a property manager, you may be able to address sensitive or time-critical issues more quickly with a team of specialists supporting you and your property.
An assistant property manager may handle routine issues, while the leasing agent coordinates showings and answers inquiries about available properties. Having knowledgeable insurance, maintenance, marketing and accounting specialists working with you may also allow you to provide better service as issues arise. The more you can delegate specific tasks to highly qualified experts, the more time that is open in your schedule to overall property operations.
Know Your Properties’ Quirks
Every property is different, and the more you know about your properties’ idiosyncrasies, the better service you can provide. This might mean specific issues that are exacerbated by severe weather or caused by the holiday season, such as increased traffic or difficulty parking. General knowledge about the region can also be helpful, including information about traffic patterns and freeway access, shopping, restaurants, and other services nearby.
Marketing Best Practices
Marketing to property owners and prospective tenants is important for building your business. Use internet marketing resources such as Craigslist, Facebook, and commercial real estate sites like Loopnet, combined with high quality, eye-catching photos and detailed property descriptions, to create a successful marketing platform. To support your marketing efforts, be sure your responses to inquiries are timely and represent the type of service that will be delivered throughout the business relationship.
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