Key Traits of Good Property Managers

Being a landlord comes with a lot of responsibility. While it is possible to be able to handle it, you may decide that you want to hire a property manager. Hiring a great property manager is key to making sure you can hand some of the responsibility to someone who can handle it, but it is important that you make sure the potential property manager has key traits to ensure they do the job well. Good property managers can make or break your experience as a landlord as well as the experience of the tenants renting from you.

They fill vacancies

One of the most important tasks a property manager does is fill vacancies. They likely have their real estate license, so they have the resources they need to be able to fill vacancies quickly. They go through the screening process of checking eviction histories, credit, and criminal records of the potential tenants. This will help give you peace of mind that your tenants are good tenants who will pay their rent on time and will not cause any issues. Having vacancies filled allows you to make money, so filling them quickly allows you to have more money coming in.

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They are knowledgeable

Another key trait of a potential property manager is that they are knowledgeable about the real estate industry. They should have a formal education and a state license for real estate. They know the ins and outs of each state’s laws and regulations, so you will not have to worry about learning them all yourself. Property managers also are educated in the latest tools for collecting rent, scheduling showings, advertising, and managing maintenance requests because they are educated about these tools and where to find updates.

They avoid conflict

Good property managers do all they can to avoid conflict. They screen tenants so they are sure the tenants will not cause issues. They write a thorough lease that covers everything tenants need to know so the rules and information is spelled out in a way that is easy to understand. The lease should also avoid loopholes. A property manager should also do a criminal background check and eviction history check to make sure tenants will be less likely to cause problems. Overall, they know what needs to be done to avoid conflict and handle it when it comes up. Good property managers also help settle conflicts between tenants in a fair and timely manner, which shows they care.

They are organized

Property managers have a lot to do and handle all at once so it is important that they are organized to keep track of things. They need to keep track of rent, maintenance requests, and more. If they are not organized, things will get dropped and tenants may become frustrated. This is especially true if their messages are being lost or maintenance requests are not being taken care of in a timely manner. A property manager who is organized can help tenants stay satisfied and your business remain legal. They stay on top of things and get things done in a timely manner. This helps ensure customer service for your tenants, which helps them feel valued.

They communicate

Having an open-door policy allows tenants to come to you with any feedback they need to provide. Property managers provide a home to tenants, so it is important that they are open to communication and have times where they are able to have tenants reach out to them. If a tenant brings up a complaint, a property manager should be able to address it in a timely and professional way and not take it personally. Tenants are customers, and if the property manager is able to keep this in mind, tenants will come back and encourage others to rent from you. Property managers may even want to have a suggestion box. Having multiple ways of communication shows tenants that their property manager is available to communicate and listen.

They are festive

There is a lot going on in the world. This is especially true for college students if most of your tenants are students. Tenants want an escape from the world, at least for a little bit. A property manager may decide to hold activities and events for tenants to build community and provide an escape. These kinds of events allow tenants to know that they are appreciated, which helps them decide to keep renting from you. Tenants who appreciate these sorts of events will also let others know about these events, so property managers have an opportunity to bring in more tenants this way. Property managers who help celebrate tenants and holidays show that they are caring, creative, fun, and approachable. This allows tenants to feel a sense of connection with those who manage their rental.

Being a landlord can be stressful, but having a property manager can help relieve your stress while helping things get taken care of quickly and professionally.