Qualities of the Best Property Managers

If you are reading this, you have probably already made the decision to hire a property manager.  If you go about selecting your manager carefully, you will save yourself a lot of stress and time by assigning responsibility to a company that specializes in ensuring your property is well-cared for.  Choose your company hastily and you may just be paying someone to feel more stressed than you were to begin with!  Here are some qualities of the best property managers so you know what to look for when you are ready to hire one.

Knowledge and Experience

Experience should always be a prerequisite for anyone you are going to entrust the care of your properties to.  Not only does this mean being an expert at the business for the last 10+ years, but it also means the property manager is always learning and evolving.  Laws are always changing regarding property ownership and other real estate regulations.  Be sure you know the law in your state. Even in small town Durango, Colorado, our employees who show property are required to carry a real estate license.

Professionalism

Professionalism can mean proper licenses and certifications are in place, but in this case it more relates to how an organization deals with their employees, tenants, clients, vendors etc.  Bickerstaff Parham Real Estate says, “A property manager must have a friendly, positive attitude and excellent customer service skills to build relationships with new and existing clients and tenants. They must be patient, reasonably tolerant and have the temperament to handle problems and respond to complaints and service requests in a positive and rationale manner.”  This means the ability to withhold personal emotions about a person and treat everyone impartially.  Not only will partiality open the company up to legal trouble, but it is not conducive to good relationships.

Organization

As the company responsible for the needs of so many parties, the best property managers must have the highest of organizational skills.  According to Chron, this will allow them to keep in touch with owners and tenants, but also any vendors, maintenance staff or contractors.  The best property managers are so organized in fact that they will have back up vendors, maintenance staff and contractors they can call when the season gets busy.  They also ensure to maintain good relationships with these supporting organizations so they will always do their best work for your property.  Along with keeping track of everyone, they must also keep track of deadlines and payments.  The best property managers make the best project managers as they must execute the strictest of timelines that include collection of payments, meetings, inspection dates, viewings, property improvement projects, etc.

People Skills

A property manager prioritizes clients and tenants.  As the liaison between the client and the tenant, not only must a property manager have good communication skills, but they must also possess elevated people skills.  This means anticipating the needs of both parties often before they are even expressed.  Not only will this come in handy when a company is trying to maintain a relationship with a tenant for you, but also when they are trying to secure a new one.  After all, who wants to rent a property from a company when the person they must send rent to monthly treats them poorly?

Communication

Net Integrity says, “External sources, like clients and tenants, also need to know that they can get a hold of their property manager when they need to as well. That means answering the phone, responding to emails, returning messages and keeping the lines of communication open at all times.”  Being readily available for a client or tenant need is just part of the equation.  The biggest piece of good communication is the property manager’s ability to listen.  No matter how long a company has been in business, they should not assume they know your specific needs.  If the person you speak to is quick to cut you off when you call or does not get back to you promptly, it is a sign of broken communication.

Do not be afraid to do an in-depth interview with every property manager you are considering.  You may not think there’s a difference between them, but depending on how involved and worried you want to be, there really is!  Do not just take the first recommendation you hear as gospel because a property manager has more influence than you think on how your home is cared for and the success of your investment.

If you have more questions how we set ourselves apart from other property managers, please give us a call at our Durango office: 970-259-0222.