It's no secret that Property Management can be difficult! When a situation or dispute arises, the Property Manager can be seen as the meat in the sandwich however when all is going well, the Property Manager still needs to ensure they are pro-active. A great Property Manager should possess a combination of skills and qualities that enable them to effectively manage properties and maintain positive relationships with both Landlords and Tenants.
So what makes a great Property Manager?
1. COMMUNICATION
Communication is one of the most important and integral skills for a Property Manager. They need to be able to communicate clearly and professionally with both Landlords & Tenants. This includes keeping all parties informed about the day-to-day management of the properties. Areas such as maintenance, lease agreements, questions, or queries from either party & for any issues that may arise. Prompt and transparent communication is key to preventing misunderstandings and disputes.
2. RELATIONSHIP BUILDING
Building and maintaining positive relationships with owners and tenants is vital to assisting in a positive management experience for all. Your Property Manager should be approachable, responsive, and empathetic. By creating and managing good relationships, a Property Manager can often prevent conflicts and maintain open lines of communication in the event that something isn’t going quite right. You can read about the perks of private management vs agency management of your property you can delve into the details in our Let's Talk: Private Management Vs Management through an Agency blog.
3. PROACTIVE
Proactivity is a key trait for a Property Manager. A Property Manager should take the initiative to identify and address any potential issues before they become big problems. This includes staying on top of property maintenance both as reported & annual, handling tenant requests promptly and keeping up with market trends & changes to the Residential Tenancy Act. Proactive management can save time and money in the long run.
4. ATTENTIVE
Being attentive to both Landlords and Tenants needs aswell as the condition of the property is essential. This involves regular property inspections to identify maintenance needs and ensure that the property is being looked after and cared for. An attentive Property Manager can spot issues early and commence taking action to prevent any issues from escalating.
In addition to all the above, a great Property Manager should also possess the following attributes;
Organizational Skills – managing multiple properties requires strong organization skills to keep track of leases, maintenance schedules and financial records.
Problem Solving Skills – In residential tenancies, Property Managers often encounter various issues from maintenance problems to tenant disputes and lease negotiations. The ability to effectively solve these problems is crucial.
Technological Proficiency – It's no secret that we live in a high-tech world now and proficiency with Property Management software and other technology can streamline operations and improve efficiency.
Ethical Conduct – a Property Manager must always maintain a high ethical standard and act in the best interest of both property owners and tenants.
Ultimately a great Property Manager is someone who can balance the needs and expectations of Landlords and Tenants while efficiently and effectively managing a property.
If you would like to discuss the ways in which I manage properties, then please contact me today at holly@hedgespg.com.au or feel free to check our Property Management booklet.
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