It’s likely that you became a property manager for a reason, and we bet you’re pretty darn good at it too. It takes a certain kind of personality, professionalism, and drive to succeed in this business. (It’s definitely not meant for everyone.)
Here at OJO, we aren’t just general bookkeepers. We intentionally chose to work with property managers and specialize in the industry. We love what we do, and we love the people we help!
Here are a few reasons why we enjoy helping property managers the most, and the qualities they possess:
Strong Attention to Detail
Managing multiple properties is no easy feat. We’ve noticed that people in this profession are generally sticklers for details, because they have to be! Every single cent must be recorded and accounted for, along with comprehensive financial reports and other important documentation.
Organized to a Fault
Organization is a must when coordinating so many moving parts. From dealing with tenant requests and maintenance, collecting rent, setting budgets, repairs, and even evictions, everything requires some sort of process and organized workflow.
Excellent Communication Skills
Call them, beep them, when you want to reach them! Good property managers are readily available for their tenants by phone, via email, and in-person when necessary. They also reach out to tenants when there are any issues they should be in the loop about, and respond to emergencies quickly to ensure everyone’s safety.
Additionally, property managers are typically also great writers and verbal communicators. Knowing how to get a concise point across is crucial when speaking with different parties related to the business, as well as putting out unexpected fires!
Proactive & Prepared
Instead of being reactive and responding to issues only when things go wrong, great property managers know how to anticipate problems in advance to minimize the impact. Whether it’s scheduling preventative maintenance, changing the HVAC system, or giving some rooms a fresh coat of paint, all things are taken into consideration, from the minor inconveniences to major issues.
Do you know a guy for XYZ..? It’s likely that a property manager does! It’s important for them to form relationships with all different types of vendors, from handymen, plumbers, real estate agents, accountants, and more. This way, when a product or service is needed, they can easily pull out their (digital) rolodex and contact the right person. Plus, having an established relationship with someone can also mean getting extra perks or discounts. Who doesn’t love those?
Knowledge of Their Local Market
Are interest rates going down? Is it currently a buyers’ or sellers’ market right now? You can bet your property manager will know the latest happenings and trends in their market. Why? It helps them with choosing amenities that appeal to the types of tenants appropriate for a particular building. Plus, the market outlook directly affects lease terms and conditions, as well as construction and service agreements.
At the end of the day, the number one quality of a great property manager is their strong sense of professionalism. No matter what challenge comes their way, they know how to remain cool, calm, and collected under pressure. They are willing to learn new things to better their properties and tenants, they are flexible but also know how to get things done efficiently, and patient when handling many requests.
Summing it all up
These are just some of the incredible qualities that make an excellent property manager and what we’ve experienced working with so many of them over the years. Of course, every person and situation is different, but we hope you related to some (or all) of these! What other traits would you add to the list?