Never underestimate the far-reaching impact an on-site property manager has on your business. In addition to managing the day-to-day tasks, they will be your brand ambassador, PR person, sales person, and mediator. Professionalism is the order of the day for all interactions with others.
The number one skill a property manager needs is the ability to communicate well. Typically, residents don’t contact a property manager unless there’s a problem, so it’s imperative that the person you select be able to interact with residents during stressful situations. Whether speaking with someone face-to-face, talking on the phone, or using email, good communication skills build good relationships with residents and create a good impression of your business.
Business Practices and Accounting
As a professional, a property manager should be familiar with standard business practices and have basic knowledge of accounting and finance. It is necessary to track income, follow a budget, and keep accurate records. Rental agreements, licenses, inspection reports, etc. need to be kept up-to-date and easily accessible.
Every day a property manager works with residents, visitors, potential residents, and service providers. The ability to work with a variety of personalities and temperaments is a useful skill. It’s important to be able to diffuse difficult situations, keep a positive attitude, and respect another person’s point of view – whether or not you agree. The manner in which the property manager treats others will set the tone for the entire community.
Organization & Attention to Detail
The key to being a good property manager is not to work harder, but to work smarter. Everything will be a priority depending on who you speak with and what they want. Set clear priorities for what needs to be done and when. It’s easy to be distracted in the middle of a busy day and organization is the way to keep things from falling through the cracks. Not only do organizational habits reflect the quality of the individual’s work, it protects your investment.
GSX Ventures staff of professionals are experts in their respective fields and can help you or your organization make choices that will add value to your real estate investment. Contact us today at 410-230-0003 or online at GSX Ventures, with your questions or to set up an appointment.