Three key skills of a good Property Manager

I'm curious as to what the criteria list is that you use?

 

In my opinion, the three main skills of a good property manager are:

1- Building a trust relationship with the homeowner based on facts. A good property manager gives you feedback on your placement frequently and informs you if anything is wrong directly by calling you. It gives you financial details on your investment and takes into account your feelings.

2- Maintain is sales promises and do more. A good property management experience resides in the personal attention that you received. You should request from your property manager not only what you deal with him but also be sure that he does everything possible to increase your earnings.

3- Expertise. A good property manager does not have weaknesses. Meaning that you should ask him any questions about the property investment and receive a clear and detailed answer at any time.

 

wow so much expectation from property managers yet people complaint about the price of management, defiantly an underrated position and the good managers are worth their money.

 

Yes. This exactly. But most people don't know value or expertise when they see it.

 

Interesting points. Do you think the investors need to reduce their expectations or that managers should increase their level of service. They would have to adjust their fee's to suit. There is only so much time a business can afford per property for 8% of rent/week.

 

I wonder how dangerous it is to be a PM though in some areas.

I remember a few years ago in Sydney the guy stabbed to death the PM i think was out at Fairfield by memory ,anyway doesnt see glamorous when u think about it.

Imagine declining peoples applications and then they come into the office to abuse and threaten you .

Then going out to properties where the tenants are abusive and no hopers.

Then a Landlord is abusing you because you didnt return his phone call within 5 minutes , he didnt know you had other clients, he thought he was the only one.

 

Talking of morbid stories, I worked with a lady a few years ago who had watched the receptionist in her business get shot and killed by a disgruntled tenant a few years before that, not far from where I work in Sunnybank (actually in a NICER area than where we are!).

Conflict management is a vicious circle. I believe the biggest issue is that there is a much higher and wider range of skills needed to effectively do the job than what is expected, resulting in the vast majority of the industry under-performing to people's standards. PM's don't do their job properly, resulting in a higher level of conflict that they are not equipped to deal with at all, resulting in turnover of staff that snowballs the effect.