4 Things Your New Property Manager Should Do
Hiring a property manager is a hectic task because technically you are hiring someone who makes sure that your investment won’t go to waste. In short, you are giving away all your trust to this one person whom you call your property manager, and you shouldn’t give this job to just any ordinary man. For those who don’t know about it, hiring a property manager is all about a person who keeps a check on the day to day operations of your commercial or residential property and let’s face it that you cannot just hand over this job to someone who isn’t qualified enough.
Now, the issue is that there are several
1-He should be able to negotiate
Your property manager should possess some good negotiation skills. He should know how to get the best market value for your property and he should know how to deal with the tenants in such a way that your investment brings you the profit you were expecting. Also, you need to make sure that there is no hidden fees or extra charges and that your property manager is completely transparent with you when it comes to dealings. It’s your manager’s full time job to look for tenants, bring you the best rate and advertise your property in the best possible way. After all, this is exactly what you will be paying him for.
It should be easy for you to communicate with your property manager and there shouldn’t be any unanswered questions. You should be comfortable in working with him, and you need to put all your trust in him which is only possible if you both communicate well. Also, your manager needs to be available almost all the time for you. He should pick your calls when you call him to ask about the property or the day to day operations. He should answer all your emails, and he should also keep you updated about the maintenance required for the property.
Your property manager is responsible for the maintenance of your property, and he shouldn’t be calling you for each and everything. In fact, whenever he feels like something needs to be fixed or renovated, he should go for it after informing you at least once and after taking your permission. You don’t want to hear that the tenants aren’t happy with your property and if that’s the case then you need to hire someone who makes sure that there is nothing to be unhappy about your property.
You cannot hire a property manager who is new in the business because again, as an investor, you cannot take any risks and you’d always want the best for your property. Find a reliable property management company so you know your property is in good hands. So, just make sure that your manager has a lot of experience in property management. Check his history, check the clients he dealt with and check the reviews people have about him.
Use these tips and consider these factors the next time you want to hire a property manager. We assure you that these tips will come in handy to you and you will end up with a great property manager.