Date: November 23, 2016
Qualities of a good Property Manager
The best property management companies are always aware that there are two components to a successful residency model which have to be kept in balance – the tenants and the owners. On the one hand, property managers are responsible for preserving the full value of a property, keeping it well-maintained and attractive, and for doing everything possible to keep rental units in St. George, UT, occupied and generating the maximum amount of income.
However, there is also a responsibility to all tenants at a property, who must likewise be kept satisfied and sufficiently happy with their surroundings so as to be encouraged to continue their residency. This is sometimes a fine line to walk, and there are even occasions when the best interests of residents are somewhat in conflict with the best interests of an owner, and this is why experience, diplomacy, and a genuine concern for both parties is necessary to manage a property effectively. In order to fulfill this demanding role, we feel that several qualities are absolutely necessary of the property manager, and must be employed on a daily basis.
There can be hundreds of details which arise in the course of a week or even a day on a given property, and each one of them has to get appropriate attention from the property manager. An oversight or dismissal of some crucial detail could have seriously negative consequences, so the really good property manager has to be sufficiently detail-oriented to allow nothing to slip past, and go unattended.
Safety hazards anywhere around the property can lead to problems, so bi-annual inspections have to be conducted under the direction of the manager. Units themselves must also be kept in good working order, so all maintenance requests must be addressed promptly to keep residents satisfied. The best property management companies make sure none of these details are overlooked, to ensure the safety of all concerned. Property Inspections are also conducted looking for any items that might need repairs due to tenant neglect. If these items are found in the inspection notices are sent to the tenant to address and repair the issue and report back in a specific time frame.
When a property manager is required to manage many different units, and possibly several owners as well, good organizational skills are an absolute must. This means maintaining good communications with residents and with owners, and having a good working relationship with local contractors and service personnel who regularly work at the property.
There are times when several different projects need to be coordinated, so it’s important that a detailed timeline has to be kept current for showing payments, inspection dates, and any other work being done at the property. Financial reports must also be developed and prepared for owners on a timely basis, and payments have to be remitted on time to satisfy the commitment to ownership. In short, a good property manager has to have the kind of organizational skills necessary to keep everything running smoothly at the property itself, and to ensure that owners are fully satisfied at the same time.
One key component of the relationship between a good property manager and owners/tenants is trustworthiness, and even though this is something that is only earned over time, that’s exactly what we always endeavor to do. We understand that in order to be effective in the role of property manager, a person must have the full confidence of an owner, so that daily tasks can be carried out at the manager’s discretion, without having to consult an owner on every little detail. Even though tenants don’t have a great deal of recourse about choosing a property manager, they can certainly voice their displeasure over someone who isn’t doing an adequate job in the role, so even for tenants, trustworthiness is an issue.
As one of the best property management companies, we also recognize that loyalty toward ownership is another part of the relationship which has to be demonstrated in order for the owner to fully trust and have confidence in a manager. Since the property manager is in essence, the owner’s proxy, it is reasonable for an owner to anticipate that every decision he or she might make would also be carried out by that proxy. We condense trustworthiness and loyalty into our guiding rule of thumb – “Is this something the property owner would do?”.
People skills are one of the most important qualities a property manager can have, because literally every day of the week, it will be necessary to coordinate issues with both owners and tenants. Sometimes all it takes to soothe an angry tenant is a positive, cheerful tone from the manager to defuse the situation.
But we also realize it’s not good enough to discuss every issue away – genuine customer service skills are also needed to build and maintain good relationships with tenants and owners. In addition to the superior communication skills necessary for the good property manager, there really has to be a legitimate concern for the welfare of both tenants and owners to keep the whole operation on an even keel.