Becoming a Successful Property Manager: The Ultimate Guide

ballpen blur close up
ballpen blur close up

There is so much more to being a property manager than meets the eye, even without trying clients and finding the right approach for them. Their typical day is busy: property showings, answering numerous calls and emails, thinking of optimal schemes to offer to their clients. It also isn’t easy dealing with rent collection, repairs, moves and evictions. 

But worry not, we’ve got you covered – here is the ultimate guide on how to prepare yourself and become a prosperous property manager.

Property knowledge

First and foremost, you need to be prepared to answer all the questions that your curious prospective renters may have. In order to be able to do that, it is necessary to be acquainted with each property in detail. Visiting the premises and learning as much as you can about them on the spot will help you remember those facts easier. In that way, once your renters come asking away, you will be ready without having to look through your notes, making you look more professional.  

Besides information on the property itself, it would come in handy to know more about the surroundings. The proximity of shops, restaurants, and freeway access can be the thing which will sway the renters to choose that particular property. Of course, they will probably do some research on the neighborhood they are considering as their future home, but any additional details you can provide can be a plus. 

Internet as a tool

social media
Before heading out to look at the property, most people surf the internet for information and offers in that area. If you can influence the marketing plans of your company, or if you are yourself a small business owner, having a good online marketing strategy is imperative in order for your property to stand out. Offline marketing could be of equal importance, so try setting up billboards in that neighborhood and in the proximity, but make sure you stir away from the clichés.

Social networks have also become essential in this line of work, so ensure that your company’s profiles are updated regularly and that the content is modern and interesting. Business networks such as LinkedIn can be perfect for expanding your contact base and communicating with potential renters, as well as property owners.

Time management

If you are responsible for multiple properties, you need to be at the top of your game so as to give it your best but also not to be stretched out thin. This is where your organizational and time management skills will be put to a test, since the balance between your professional and private life is vital.

A good property manager is reliable, answers each email and returns each call promptly. However, an excellent property manager knows that giving out your private number will not help you in your work. Be fully dedicated and available during your working hours, but time outside of work is yours alone. That is the only manner in which you can go all out in the professional sense. 

Ahead of competition

Learning about your competition is recommendable, not in terms of dissecting your own work, but improving your own approach. You should scan the rental prices of your competition to see whether you can offer something more alluring. Also, it wouldn’t hurt to do your research by area so you can have a realistic image regarding the value of properties in that particular area.

A part of being ahead of the game is using all resources at your disposal. Successful property managers use cutting-edge property management software to aid them in their everyday work. Using such tools helps streamline your workflow, cutting the time you spend on menial tasks, and it allows you to introduce automation every step of the way. Also, they attend professional courses, as well as keep an eye on new regulations regarding property laws. Keeping it fresh is the policy for success.

A winning team

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Being a successful property manager doesn’t mean that you should be a lone wolf. You need to know the work in and out, as expected, but also so that you can properly delegate it to assistants. You should stay in charge of more delicate matters related to clients, but your assistant(s) can assume the responsibility of scheduling the showings and initial communication with the prospective renters.

The choice of team mates is also a very important subject matter as well. They need to be dependable and hard-working so they can keep up with their assignments. Having a trustworthy team to lean on will help you be more efficient and successful. Being dedicated and available for your clients can be challenging, but not if you are well-prepared and if you value your time. Dazzle the renters with good marketing, your knowledge on the property and the neighborhood, as well as your positive attitude and commitment to provide them with the option which is the most suitable for them. 

Knowing your competition is also a part of providing the best solutions, as is working with capable and hard-working people. All in all, successful property managers need to keep a few people happy: the property owners, renters, and of course, themselves.

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