Business Tips for the New Property Manager

Business Tips for the New Property Manager

Just because a person has the title of “property manager” does not mean that the only thing on their mind is filling vacancies and tending to tenant complaints. There is so much more to the position, and every new property manager should understand the onion quality of the job.

As Shrek explained to Donkey, “Onions have layers,” and theresponsibilities of a property manager are many.However, the rewards can be even more multitudinous when the job is done well. Life as a property manager is never a slow life, and the job is never boring.

There is always something to fix, a client to appease, contractors to haggle, and an extensive list of other to-do entries that come along with the position. Preparation and education are essential for those who are new to the world of property management. Take a moment to read over a short synopsis of some of the most effective business tips for the new property manager.


Adopt the Attitude of a Great “People” Person

Harvard University studies have clearly shown that happier people who tend to exudea positive outlook on life almost always achieve greater success in the workplace and in their personal relationships. Positivity is one of the most important qualities for a successful property manager as well.

An excellent property manager will never give up on an issue, but will continue searching for a way to fix the problem until the client is satisfied with the outcome. Resilience is a necessity for any level property manager.

Every day in the office will bring a new challenge, and the person sitting in the proverbial driver’s seat has got to know how to steer into the skid with a big, bright smile on their face.


Acquire the Art of Constructing a Stellar Lease Agreement

Not all property managers work for large companies that set their own standards. Sometimes the manager of a property takes on the responsibility of drawing up a lease agreement for tenants all on their own. Theprocess of formulating a proper agreement may be a bit of a challenge without the right information.

Take the time to research what has worked for other successful property managers thoroughly. Remember that a lease is a foundational piece of legal property. Whatever is written on that paper is pretty much set in stone upon the application of the tenant’s signature, so think it through.


Let Technology Serveas YourWorkhorse

Do not be afraid to let technology do some of the work. One person cannot handle every piece of information, complaint, or payment that comes along. Sometimes it’s better for the sake of efficiency to employ the benefits of advanced technology.

It may seem challenging to learn a new way of completing a task, buttechnology is there for convenience and efficiency.There is no reason to fear the assistance technological tools can offer. One single device or platform can handle the storage capacity of a hundred filing cabinets. It’s time to upgrade.


Set Parameters on Office Hours for Everyone’s Sake

For the sake of success, set clear parameters on office hours and services. It is hard to maintain a positive working relationship when there are no clear boundaries in place. Communication between landlord and tenant is vital to the longevity of a successful relationship—but except for direst of emergencies, it doesn’t have to take place at 3 in the morning.

Tenants must understand when their property manager is no longer “on the clock.” A few phone calls during the wee hours of the morning will quickly prove the relevance of this point. When landlord and tenant both know their boundaries, business decorum tends to prevail.