Not the property manager they deserve, but the one they need
Running your apartment better than Batman cleans up Gotham.
The property manager is the glue that holds the multifamily world together. They work directly with the client — property owners — and their tenants, and bridge the gap between them. Their life is in constant motion, their responsibilities ever fluctuating.
They’re basically superheroes, keeping properties safe from disaster.
It’s a difficult and often thankless job*. And it takes the right kind of person. Do you think you’re up to the task? Looking for some pointers? Then check out these tips for being the very best property manager you can be.
Maybe it sounds obvious, but to do this job right, you have to communicate. And do it well. This is vital to a building running smoothly, from contractors to residents to owners.
Managing properties requires you to interact with people of varying business relationships daily. So, a good communicator needs to be able to see issues from multiple perspectives. You have to know how to receive information, summarize it, and report it effectively. And you must be able to do so respectfully, learning to always keep levelheaded. You have to navigate the levels of friendliness without crossing the line from friendly manager to buddy, which could compromise your authority with residents.
Good communication is characterized by being: timely, regular, respectful, and efficient.
A good property manager regularly visits each apartment within their portfolio. Randomized visits have the duel purpose of ensuring that residents feel like you’re ready to solve problems, and keeping your staff on their toes and constantly in work mode. Issues within your staff can’t escalate if you’re around to catch them.
Honestly, once you’re out of high school, it seems a little silly to mention this, but we’ll say it again: a property manager needs to be responsible. What this encompasses for this line of work is being self-driven, understanding time management, and being professional. You have a responsibility to represent the brand of your apartment to residents or even a board of a directors.
You must be timely with reports, driven to seek new opportunities, and professional in handling in-house situations.
Technology and staying ahead of the curve
Understanding the technology out on the market is important to every job, but especially here. The difference between vacancy and filled units is adopting appropriate technology. Harnessing the right tech improves the lives of your residents, and makes your job easier. Win-win.
Tackle all communication through one platform, receiving and directing work orders, leases and reports from one online source. Utilize energy measuring technology to run your property more efficiently. Keep a step ahead by looking out for new amenities. Keep an eye on the competition, and anticipate new trends.
A good property manager accepts what works.
A great one is an early adopter.
And remember, people first
This is the most important thing a property manager must understand: their business is people, but people shouldn’t be treated like business.
Well, apprentice, you’re now ready to continue your PM training!
*You know, apart from getting paid.