Are you interested in a career in real estate? Or do have several dwellings and are considering becoming a landlord? Do you already have many existing units and need a good professional team to run them for you? If you find yourself in any of these situations it is a good time to consider what you need in property management.
What then make for good manager material? Is it something innate, or do you need to get a quality education? Luckily, the answer is no to both of these. Good managers are made and not born, and expensive education will not trump some good, clear, common sense. This, then, is a look at that common sense and its traits.
Above all else, there is one trait that will serve you better than the rest. This trait is absolutely paramount to your success in management, and it is found in the ideal of respect. You must learn to deal with all others in your business with absolute respect. This includes the tenant you must evict as well as the agent who wants to sell you another building. This does not mean being weak, but is rather concerned with making the others feel strong.
How is it that we can strengthen others without giving away our own strength? It is by simply treating them the way we would want them to treat us. Yes, this old adage from nursery school is still vital, and even more so when in a business that must deal with so many other people. Treating others with kindness and decency will make your world turn much, much easier.
However, this is not to say that you will be a pushover or an easy mark, far from it. Also in your skill set must be a thorough understanding of the law as it pertains to your specific area. Real estate laws, and laws pertaining to leasing and renting, can be complex and they are different in different areas. You must know yours and the rights of those whom you manage. The law is the final arbiter on difficult issues such as evictions. Protect all parties involved and know the law. Knowing a good lawyer cannot hurt, either.
Another tremendous asset to being a total professional is to always deliver on your promises. No matter what your advertisements claim you will do, you must then do it. If you say you will come out to fix plumbing problems at two in the morning, then you must do so. If you promise safe and sanitary living environments you must then provide them. Representing yourself in all honesty is always good business, and will be rewarded.
In addition to honesty, you must be available in a timely manner. Be in your office during office hours, and answer the telephone when it rings. Being a manager of tenants means being available to them when they need you. If they can only get an answering service or a recorded message they will get the impression that you are not in the area. This is bad for them as well as for you, so be an available presence.
With these ideas in mind - respect, honesty, punctuality, and availability - you can see that good property management is in your reach. Be patient with yourself and your clients, and you can become a great asset to their community, and to your own community.
What then make for good manager material? Is it something innate, or do you need to get a quality education? Luckily, the answer is no to both of these. Good managers are made and not born, and expensive education will not trump some good, clear, common sense. This, then, is a look at that common sense and its traits.
Above all else, there is one trait that will serve you better than the rest. This trait is absolutely paramount to your success in management, and it is found in the ideal of respect. You must learn to deal with all others in your business with absolute respect. This includes the tenant you must evict as well as the agent who wants to sell you another building. This does not mean being weak, but is rather concerned with making the others feel strong.
How is it that we can strengthen others without giving away our own strength? It is by simply treating them the way we would want them to treat us. Yes, this old adage from nursery school is still vital, and even more so when in a business that must deal with so many other people. Treating others with kindness and decency will make your world turn much, much easier.
However, this is not to say that you will be a pushover or an easy mark, far from it. Also in your skill set must be a thorough understanding of the law as it pertains to your specific area. Real estate laws, and laws pertaining to leasing and renting, can be complex and they are different in different areas. You must know yours and the rights of those whom you manage. The law is the final arbiter on difficult issues such as evictions. Protect all parties involved and know the law. Knowing a good lawyer cannot hurt, either.
Another tremendous asset to being a total professional is to always deliver on your promises. No matter what your advertisements claim you will do, you must then do it. If you say you will come out to fix plumbing problems at two in the morning, then you must do so. If you promise safe and sanitary living environments you must then provide them. Representing yourself in all honesty is always good business, and will be rewarded.
In addition to honesty, you must be available in a timely manner. Be in your office during office hours, and answer the telephone when it rings. Being a manager of tenants means being available to them when they need you. If they can only get an answering service or a recorded message they will get the impression that you are not in the area. This is bad for them as well as for you, so be an available presence.
With these ideas in mind - respect, honesty, punctuality, and availability - you can see that good property management is in your reach. Be patient with yourself and your clients, and you can become a great asset to their community, and to your own community.
About the Author:
Looking to own properties in a location near you? Then contact your local real estate agent or broker to manage your own land and increase your equity!
