October 08, 2019
5 Skills That All Property Managers Need
Being a property manager is a fulfilling, dynamic career. If you are looking to get into the property management business, or looking to hire one to take care of your property, here are five skills every property manager needs.
1.) Excellent Communication Skills
This is a highly communicative business. Property managers interact with tenants, coordinate with vendors and maintenance people, keep property owners up to date and work well with their teammates. The ability to communicate both written and spoken in a friendly and professional way cannot be underestimated. This is an industry where there will always be the odd contentious issue with a renter, and a property manager must be able to keep their cool and know how to speak to an upset tenant in a way that diffuses the situation.
2.) Firm Negotiating Skills
Whether you are in commercial or residential property management, there are times when you need to stand your ground and negotiate. This could be getting better terms (or better quality!) with vendors, or getting a tenant who is behind in their rent back on schedule to pay. The previously mentioned communication skills are only one component of a good negotiator. A good negotiator has a deep understanding of their industry, contracts and processes.. They know the desired outcome and work hard to achieve that goal. Being a property manager requires an inner resilience and the ability to be both persuasive and fair.
3.) Outstanding Organization Skills
The property management industry has so many moving parts. From ensuring vacancies are filled to overseeing a building renovation and routine inspections to staying on top of upcoming lease renewals. Depending on the size of the property portfolio, a single manager can be juggling a lot of tasks. Their organizational skills and time management abilities need to be on point. (Property management firms that use collaborative software, like Property Vista’s see increases in efficiencies and productivity.)
4.) Asset Management Thinking
The property managers that are the most successful are the ones that think about how they can drive the value of the property. Owners want someone who can help continually improve their investment, and ensure that it doesn’t lag behind other properties in the market. This means having a plan for routine and proactive maintenance as well as ongoing evaluation of the competitive landscape. Things like knowing when it’s time to upgrade appliances or giving a common entryway a refresh go a long way in protecting the worth of the property.
5.) A Desire to Learn
No matter what the industry, top leaders and performers are always learning how to improve their skills and abilities. This can be formal industry educational courses or the habit of reading leadership books and industry news. Ultimately, knowledge is what separates the great from the good.
How Property Vista Helps
Here at Property Vista, we can give your property professionals the suite of cloud-based tools they need to communicate quickly and effectively with tenants as well as keep tabs on all those moving parts of the daily operations. Check out our pricing and book a demo.