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Do you think you have what it takes to be a property manager for Pukeko Rental Managers, or any property management company for that matter? Most jobs require people to have a certain set of skills to really be successful, and property management is no exception. So what are the best traits of a property manager?
The ability to work well with people is probably the most important quality of a good property manager. 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 rational manner.
Turning a negative into a positive requires great people skills. If people feel they can trust a property manager and have their concerns addressed, they will leave happier and are more likely to become long-term clients. It’s also important to be a good negotiator, which is beneficial when dealing with angry tenants or a landlord who is unwilling to make improvements to their property.
If you have your own investments, especially in the region you are working in, clients will immediately trust you. You'll know average rents by area and house size better than most, you will know tradespeople and so on.
Excellent communication skills are a must. Landlords and Tenants need to be able to contact the property manager for emergency and non-emergency related issues alike. It can be challenging to always be able to be receptive when the phones are ringing, the email inbox is full, and customers are standing at the counter.
Property managers are responsible for creating revenue from their clients investments and managing expenses. It’s essential to have solid financial skills. A degree isn't required, but having a bachelor’s or master’s degree in finance or accounting is an asset. Taking courses in accounting, business and real estate will teach you everything you need to know to be successful.
Property managers must be well organized, so they can remain focused and accomplish the most important items on their to-do list. A property manager must have contact information for owners, tenants, maintenance staff, contractors and vendors accessible from any device. They must be able to maintain a calendar of due dates for inspections, rent payments, and work orders. They need to prepare financial statements and other reports for owners and tenants. Turning a property over in a reasonable amount of time will reduce expenses and increase revenue.
If you're not organized something important will fall through the cracks. Apps such as property management software on mobile devices can help property managers stay on track.
While not necessary, previous experience in the real estate industry as a sales agent or broker would mean you have specific industry knowledge which will help you earn your client's trust.
Property managers must maintain a high level of professionalism when dealing with employees, tenants, clients, vendors, and so on. They must be able to separate their emotions from business decisions and treat everyone impartially. Life isn’t always fair, and the situation or circumstances always change. Doing what’s right, while being firm and friendly, especially when dealing with sensitive business matters, is a daily task. Property managers must be dependable, responsible and remain patient and calm under stress.
Property managers must pay attention to a lot of details in order to protect landlords, tenants and the company. For instance, safety hazards on a property can lead to injuries and lawsuits, so property managers should perform regular inspections to know the condition of their property and immediately alert the owners of needed repairs as well as listening when tenants bring problems.
We are actively recruiting the best property managers in locations across New Zealand. Learn more by visiting our Franchise Opportunities page.