Hiring property managers

A property manager wears many hats, whether a portfolio is great or small. From finance clerk and repair coordinator, to tenant mediator and social director, a property manager understands how to organize and juggle various priorities on any given day. Time management skills are vital in responding to calls and emails, as well as proactively planning for the unexpected.

A tech-savvy property manager will be able to work independently and efficiently. Property listings may require virtual tours and digital listings. Most offices conduct their invoicing and billing activities through online portals and applications like QuickBooks, rather than manual paper logs. Proficiency in property management software reveals a willingness to learn and succeed.

A proper rental pricing formula is the key to maintaining steady occupancy and maximizing profitability. Even though property owners often set rental pricing, a property manager has flexibility to adjust or recommend rates as needed. A candidate’s process for determining rent can reflect in-depth knowledge of current real estate trends in the local area.

Ethical subcontracting ensures that high standards of excellence are upheld. Friend and family nepotism can be an all-too-common conflict of interest. Knowing how to properly vet contractors ensures that maintenance will be handled without delay and property values will remain high.

Any number of surprises can arise, which requires sound judgment and grace under pressure. There could be fires, health emergencies, storm damage insurance claims, tenants fighting, lost pets, or a complaint filed with the Better Business Bureau. Capable problem-solving and management diffuses an unexpected occurrence before it becomes a major catastrophe.

Tenant evictions are among the most challenging responsibilities a property manager may run up against. How effectively evictions are handled reflects on the property branding — which, in turn, affects tenant solicitation and satisfaction. Individuals will need to remain calm, consistent, and solution-focused in these situations.

Answers will vary by individual, but general soft skill strengths for this role include patience, detail orientation, excellent written and oral communication, careful consideration, and a good memory. A candidate’s self-assessment provides insight into what they feel is necessary to perform well as a property manager.

A successful property manager can be cultivated through education and experience, but possessing a natural ability to work well with others is a tremendous asset that ensures positive results in the long run. A good property manager will truly care about cooperation, whether dealing with easygoing individuals or irascible ones.

Resilience is an essential trait in managing all the day-to-day intricacies of real estate. Emergencies happen, different types of people come in with all sorts of demands, and there are endless tasks competing for priority. Possessing excellent organization, time management, and coping skills will help a candidate feel confident, in-control, and satisfied at work.