As time goes on, especially in the 21st century, the amount of people on this planet is growing exponentially every single day which means that the need for housing is also in growth. But, considering those huge numbers, we need to accept the fact that the larger buildings are required instead of just houses. Planet Earth does not have enough room for a regular house for every single person or family in this world. But, as a company, regulating all those different buildings is almost impossible which is why it is essential to hire a property manager.
However, finding the right person is not an easy task. It is very important to find someone that will have all the right qualities for the job. You will need someone that can take care of all of the maintenance of the building, find renters, advertise the apartments, and collect all the rent in time. This is also not an easy job which means you need to do a lot of research to find someone that can be good at it.
To help you make the right decision, I decided to make this list of the top qualities that you will need to consider for a property manager.
1. Sense of direction and leadership
As a company, it is best to think of your building as a community, a town, or a country. This is a place where dozens or maybe even hundreds of people will reside. This is the place where they will sleep, eat, wash their clothes, and do everything else. If you were to leave all of these people without any kind of rules, regulations, or authority, things will turn to chaos.
This is why it is essential to have someone that will act as a leader for every single tenant. Even though a project manager will not have as much=contact with tenants, it is good to have someone with a good sense of direction, leadership, and authority. When the rent is due, you will need someone that is going to be respected.
Learn all about the skills that good project managers should have in this monday.com article.
2. Previous experience
The reality is that you need someone with tons of experience in this area. Their previous experience does not have to be exactly for this kind of job, but it is best to find someone that has had a role for leadership or authority. For instance, you can take some help from Mynd.
Otherwise, you will have to dedicate a lot of time, effort, and money to teach the potential candidates to become efficient managers. Of course, they will come out as great opportunities for such a job position, but there is always an alternative out there that already has that experience.
This is a quality that is difficult to come by in almost every industry. Finding a person that has the patience to deal with all kinds of people is not something common. It is not common at all. This is one of the reasons that most cashiers that have to directly work with people every single day quit after just a couple of months. The amount of patience that is needed to deal with complicated solutions and angry people has to be high.
But, why is patience so important for a project manager? Well, you need someone that will be willing to listen to the residents. You cannot forget that your tenants are your customers. It is always better to have recurring clients instead of constantly having to find new clients. New clients mean readjusting, repairs, and other expenses. This is why patience is essential for customer retention.
Like I already said, patience as a character quality is very uncommon which means that finding the right person will be very difficult. Because of this, I believe that it is best to consider working together with a professional property management company such as renterspad.com.
Even though I already said that your project manager needs to be patient with your customers, they also have to be bold or aggressive at times. Of course, I am not talking about any kind of physical aggressiveness. I am talking about being abrupt, bold, and aggressive when the rent is due. The rent from your tenants is your company’s main source of income from these buildings. This is why it is so important for rent to be paid when it is due.
So many people try to play innocent or to tell a sad story about why they are unable to pay the rent. Whether this is true or not, it should not be important to you or your property manager. A person that is forgiving or does not have the required confidence, all of the rents will be late and that will result in a loss of income.
Confidence, boldness, and assertiveness are some of the most important qualities you should consider when finding a person for this job.
Sometimes, there will be some loyal tenants that are unable to pay the rent when it is due. This is normal. It is human to forget or to find yourself in a bad financial situation. For better customer retention, it is best to forgive that overdue rent to a loyal tenant.
However, if this does happen to one of your buildings, you want your project manager to give you this information as soon as possible. This is why it is essential to find a person that will be honest and will always tell you the truth about what is happening in, out, and around your building. The truth will always come out, but it is better to come out as quickly as possible.
I believe that for every job position, an employer always needs to look for dedication as a character quality. What is the point of hiring someone that has a lot of experience and is killed when that person does not have the dedication to work? No dedication translates to laziness and laziness is the complete opposite of efficiency.
This is the reason I recommend looking for someone that is dedicated to doing their job as best as possible.
There are many other different qualities that a property manager needs, but I believe these are some of the most important ones.