May 21, 2019
The Top 10 Skills of Successful Property Managers
In the workplace, some property managers seem to shine and stand out from the pack. They seem to be natural leaders. But what makes a good leader? What it comes down to is finding and honing certain skills.
They are Effective Communicators
Communication is a fundamental leadership capability. Property professionalsneed to easily motivate and instruct their teams as well as interact deftly with tenants. From time to time they need to have difficult conversations with tenants regarding noise complaints or late rent, or negotiate better deals with vendors. The reality is that conflict will happen. Tact, empathy and listening skills all play a strong role in great communication with colleagues and residents.
They Can Set Clear Goals
Whether it’s to reduce turnover, lower maintenance costs or improve lead quality, successful property managers can identify and deliver on their goals. They are determined and purposeful in their actions. Goal setting is a framework for having a focused direction, showing progress and being able to prioritize.
They Have a Vision
“Good business leaders create a vision, articulate the vision, passionately own the vision, and relentlessly drive it to completion.” -Jack Welch
In other words, successful property managers have a clear picture of the big picture! They where the company is headed and why, and can clearly communicate that vision to motivate and coach their teams to achieve that end goal.
They are Accountable for Their Actions
Successful property managers hold themselves accountable and take responsibility for their own mistakes. There’s no “blame game” and if problems arise, they are quick to find a solution and get everyone back on track.
They Have Emotional Intelligence
Emotional intelligence (often shortened to EI) is the capacity to recognize and manage your own emotions, as well as the emotions of those around you. Property managers with a high EI are self-aware, and understand what they are feeling and what that emotion means. They can regulate their emotions, keeping a cool head in the heat of the moment. They know how to put themselves in someone else’s situation and are empathetic.
They are Autonomous
Highly successful property managers are self-motivated. They have the ability to keep going and pursue their goals even when challenges and problems arise. They effectively plan their time, avoid procrastination and dig in to get the job done. They do their very best to exceed expectations.
They are Team Players & Motivate Others
While they can work autonomously, successful property managers also know how to gather their teams together and motivate them to achieve their goals. They have a coaching style that encourages collaboration, accountability and cooperation. By delegating and coaching people up, they build stronger, more resilient teams – something that is so essential in any growing business.
They are Decisive and Confident
The art of decision-making is a fundamental requirement for leadership. Great property managers know how to balance emotion with reason, as well as look at a situation from both sides. They instinctively know when they need to get consensus around an issue and when they need to make a decision that positively impact themselves, their company, the property owners and their tenants. Once they make a decision, they commit to it confidently.
They are Positive People
The property management has a fare bit of risk, from delinquent tenants to fires and other hazards. Things can and do go wrong. A successful property manager remains positive in the face of challenges. They actively create a happy and productive environment. They build morale. No one – tenants, colleagues or property owners – wants to work with a downer.
They are Honest and Have Integrity
A non-negotiable for any leader is to be honest and lead with integrity. Honesty and integrity are key to building trust, with colleagues, owners and tenants. Property managers who lead from their own sense of integrity and ethical behavior set the bar for everyone, and positively impact the company culture.
How We Help Build Success
At Property Vista, we give property managers the tools to help make more informed decisions. Our property management solution has at-a-glance dashboards to help tabs on KPIs. It includes an owner and tenant portal to promote effective communication between the property firm, its residents and the building owners. See pricing and request a demo.