Top 12 Property Manager Skills to be Best on the Job
The property manager is the link between property owners and tenants. It is a job that requires a great deal of skills and qualities, and certain level of education to be the best on the job.
Property managers perform various duties and work in different environment, managing both people and materials.
To be good on the job, here are twelve top skills and qualities you need to develop:
1. Literacy Skills
Anybody can claim to be a property manager or agent but succeeding as one, or put differently, being a good property manager requires some level of literacy skills.
One needs not have a degree or other higher academic qualifications to make a good property manager as just a secondary school certificate or any equivalent is enough to practice.
However, having a higher level of education in business, finance, estate management, or law can be an added advantage as property owners and potential tenants tend to trust educated people more.
To establish such trust, some property managers even register with professional associations.
Most property managers are vast in experience. Education is very important but not enough.
Sometimes problems might arise requiring the manager to evoke previously gained experience to calm the situation.
This does not imply that fresh graduates cannot make good property managers, but to gain such experience, most graduates who want to succeed as property managers start their careers as assistants to senior managers.
Most successful property managers are people persons. A good property manager must be approachable, understanding, and easy to get along with.
To be among the best property managers in the industry he/she must always maintain a positive attitude and be able to establish good relationship with property owners and tenants.
4. Communication Skills
The work of a property manager is that of a middleman.
He/she is the link between property owners, existing tenants, and potential tenants.
As such, he/she is expected to possess exceptional communication skills (both oral and written).
5. Organization Skills
Being a good property manager requires a great deal of organization. He/she is always saddled with the responsibility of managing/maintaining many properties at the same time.
He/she works to make sure property owners and tenants are satisfied at all times, as well as ensure that properties under his/her care are always in good condition.
To perform these tasks effectively requires a great deal of organization on the part of the property manager.
6. Attention to Detail
A good property manager should be a very careful person. He/she should always be meticulous in doing things and take adequate measures in handling issues that may result to law suit or casualties.
He/she should always ensure that properties are always maintained to avert damages, casualties, or even death.
He/she should also take his/her time to scrutinize contract clauses to ensure that neither the property owner nor the tenant is cheated, and most importantly, that his/her own rights are protected.
In as much as being a people person is a necessary quality of a property manager, professionalism in actions and decisions must be maintained.
The manager is expected to carry out his/her tasks professionally without compromise.
For any good property manager, honesty is the best policy. Property managers are often in charge of owners’ properties and money as he/she holds a fiduciary relationship with property owners.
Therefore, for property owners to be able to entrust their properties to the manager, he/she must prove him/herself a transparent and reliable person.
He/she should also always strive to maintain a transparent relationship with existing and potential tenants as this can also bring referrals to him/her.
9. Negotiation Skills
Property management is synonymous to trading – buying and selling. However, in this case, the commodities being sold (sale, lease, or rent) are properties.
So, like in commodity trading, your success or failure depends on your ability to persuade people to patronize your property and negotiate prices to your favor.
This is because sometimes property managers get only a percentage of the total deal (usually between 10 to 20 percent).
He/she must exude high self-confidence at all times and more importantly, he/she must be able to give potential clients (landlords or tenants) tangible reasons to believe in him/her.
As a property manager, professionalism is important, friendliness is also necessary, but empathy cannot be ignored.
The manager should be a person with a good heart. He/she should always take the financial capability of his/her clients into consideration before charging them for his/her services.
While some clients can pay exorbitant fees, there are others who may be in dire need of the property but don’t have enough to throw around. So, the manager should know when to bring down his/her fees.
This is one indispensable quality for any property manager that desires to be the best in town. He/she must be proactive and should always react quickly to his/her clients’ demands.
In fact, the property manager should be able to find out his/her clients’ problems and fix them immediately.
If you are a property manager who wants to be the best at your job, or you are a property owner or just a potential tenant looking to hire the services of a good property manager, then these skills and qualities should be taken into consideration.
Do you have more skills you think are important to the success of a property manager? Please share them in the comment box below.