8 Qualities of a Great Property Manager
Updated April 2, 2020
When you’re renting your property, you need a manager that will do a great job. If not, you may end up dealing with a lot of issues, such as an unhappy tenant, damaged property, or late rent payments.
It’s not hard to find a suitable property manager. You just need to look for certain qualities.
Qualities of a Great Property Manager
The following are the qualities you need to look for a great property manager.
1. Great Communication
As you’re looking for a property manager, pay attention to how responsive he is when you reach out to him. A property manager should return your calls the same day or at least within 24 hours.
When you email your property manager, he should email you back within the same timeframe. The return emails should answer all of your questions thoroughly.
When there is a foreseeable crisis that could affect rental income, you want a manager who will be proactive. You want them to address precautions and expectations of how both sides should act during such times whether that is a mandatory shut down- like we are dealing with during the coronavirus outbreak or a natural disaster such as a blizzard or tornado shutting down the area.
A property manager that is on time for appointments will be less likely to miss picking up the rent, doing inspections, and sending paperwork as needed.
Set up a few appointments before you select a property manager. For instance, ask the person to meet you at the address on a specific day at a convenient time for both of you. Make sure the person is either early or on time.
You can set up another meeting at the person’s office. This will show you whether the person will be ready for you at the time you have arranged with him.
Tenants can become too comfortable with property managers who do not appear to take their job seriously. Ensure your property manager is dressed and behaves professionally at all times. This will keep tenants on their toes.
While being professional, a great property manager should be pleasant. You never want someone to be mean to your tenants. It could cause them to retaliate, leading to damage to your property or withholding rent. A great property manager isn’t afraid to engage in conversation and show he is genuinely interested in people.
You need to trust the person since he will take care of your property. It can be hard to gauge trustworthiness. The best way to do it when you don’t know the person well is to look for reviews related to property management. You can find the information online. You can also ask for references and call them to ask how they felt working with the person.
As you’re setting up your property to be managed by the person, if you ever see any instances of dishonesty, don’t go with that person. You need the person to be completely honest with tenants and you to make this business relationship work.
Again, if you’re not sure the person is honest, you can look for the review and ask for references.
7. Look for the Above Qualities and Trust Your Gut
Your instincts are usually correct. If you feel good about someone, chances are, a person is a good option. If you don’t feel good about someone, keep looking. There are many options when it comes to great property managers, so don’t feel you have to choose the first one you find. Go with your gut, and you can’t go wrong.
8. Looking out for your best interests as a property owner
Managers have to walk a fine line between keeping tenants and owners happy. This can be tricky at times, especially if the property is over or underpriced for the area.
If you require your management company to use tools like Rentometer.com when they advertise vacant units, you can be sure your rent is aligning with current market rents.