The Top Ten Things to Consider When Hiring a Property Management Team
Property owners must use great caution and consideration when hiring a professional property manager or property management team. Property management requires a broad spectrum of knowledge, skills, experience, flexibility, and sound judgement.
A property manager must be:
1. An effective marketer... who knows how to be a good salesperson, while complying with all state and federal rules and regulations.
2. An accountant... who understands and can competently perform financial reporting on the status of the property, budgets, profit and loss statements, operating reports etc...
3. A market analyst... who can set effective and equitable rental rates for the property, while staying abreast of local job markets, economic trends, and market competition.
4. A psychologist... who understands the complexity of tenants and their issues, and will work diligently to keep them satisfied, while mitigating the cost of their contentment for the property owner.
5. A mediator... who acts as a buffer between the landlord and the tenants.
6. A maintenance engineer... who understands when and how to perform maintenance, and can engage and manage the right personnel to keep the property in good shape.
7. A technology specialist... who leverages software applications to effectively manage accounting, personnel, and maintenance schedules.
8. A triage expert... who can prioritize tasks and issues, while staying on top of day-to-day activities.
9. A community activist... who has a positive and visible presence in the community, and continually creates and sustains goodwill for the property owner.
10. An enforcer... who ensures that tenants and residents follow the rules, regulations, and guidelines, as outlined in their lease agreements.
For more information about property management, or CRE brokerage, investment, and development, contact Boatman Realty, LLC.
Boatman Realty, LLC
Houston Clear Lake: 281.816.6998
Houston Northwest: 281.816.9988
San Antonio: 830.218.5300