When you decide to hire a particular property manager, you are determining the fate of your property’s assets—from how well it will be treated by tenants to the amount of money it will actually accumulate after all maintenance and management costs are taken into account.
Choosing the perfect candidate is essential if you want long-term profitability. That said, the selection process doesn’t have to be difficult. When you find a property manager with the following attributes, proceed with a contract and consider yourself a lucky landowner:
Communication & Tenant Relationships
- Forges Genuine Connections
A good property manager knows that it is crucial to create genuine connections with their tenants. He should actively strive to engage, communicating amiability while still maintaining an air of authority. If you come across a candidate who avidly builds landlord-tenant bonds that are based upon trust and transparency, you’ve struck gold.
- Sets Clear Expectations
Whether you rent out rooms or entire homes, your properties can only remain synergistic with your vision and values when boundaries have been established prior to move-in. It is important to employ a manager who sets clear, balanced expectations before papers are signed—straightforward, not too casual, yet not discouragingly strict.
Time Management
- Knows How to Prioritize
Only a property manager who knows how to manage his time can steer you towards success. Since there are so many moving parts to the job, prioritization skills should be at the top of your list. Anything but a time-savvy manager will lead to time and money lost— If you sense a procrastinator, pass them up.
- Is Available & Dependable
When someone reaches out to your property manager with a request or question, whether that be a tenant, contractor, or yourself, they should always be met with a sense of validation and importance. While not every matter can be at the top of a manager’s list, their response should always show that they care to take care of it.
Forward Momentum
- Is Proactive & Always Learning
If you want to determine if someone is a strong property manager, ask him how he proactively addresses potential problems and if he has a long-term strategy. In addition, ask him how he strives to improve his procedures— If he says that he attends seminars while simultaneously conducting his own research, you have a winner.
- Stays Up-to-Date With Trends & Tech
The industry is constantly evolving— A property manager must stay in touch with ‘the times’. Not only will he need to be aware of all rules, regulations, rates, and real estate trends, but he must also be savvy enough with software and social media to keep your rentals thriving in an increasingly tech-integrated market.
Attitude & Approach
- Holds a Positive Outlook & Tackles Challenges Creatively
A successful property manager always finds a way to improve in the face of challenges. Instead of betting discouraged, he takes inventory of what is available to him and comes up with an innovative way forward. If you want to come out on top in the market, don’t just find a manager— Find a MacGyver. A can-do attitude is essential in their line of work.
- Displays Confidence & Decisiveness
Whether or not he always makes the perfect move, a proficient property manager continues on with an air of confidence. He is decisive despite uncertainty because he knows that he can address any unwanted consequences with skill and is still learning every step of the way.
Networks & Systems
- Has Tried-&-True Methods for Choosing Tenants, Tackling Requests, & More
Choosing tenants is one of the most pivotal parts of running a rental property. A superior property manager has developed both a sense of intuition and an intricate system to find the perfect fit. He takes many aspects into account, determining how he can best avoid any major issues— In case they do still arise, he should also have streamlined systems to handle them.
- Knows the Online Market & is Always on the Look-Out For Opportunities
Everything has moved online—even the housing market. Trust has taken center stage in the online world, and capturing it from consumers requires approaching your audience from an authentic and interactive angle. A property manager must be multifaceted to succeed, making marketing moves whenever an opportunity arises while simultaneously sustaining success in all other facets of his position.
Organization & Cleanliness
- Presents a Tidy Property & Plans For Inspections
It is crucial for a property manager to present a tidy property and complete regular inspections— This will uplift tenant quality and retention, as well as preserve a property’s value by identifying issues early on. If inspections are not an integral part of the management process, disastrous consequences can occur—insurance could become void, damaging illegal activities might go unnoticed, and delayed maintenance could result in a decrease in value.
- Keeps All Paperwork in Order
Last, but certainly not least— Choose a property manager who is outstanding when it comes to organization. How all paperwork associated with your rental is handled and filed will make a big difference to your bottom line. Efficient systems will save you time, trouble, tenants, and ultimately—cash.
In Utah and surrounding states, rentals are in high demand. Now is the time to shine— At Rhino Property Management, we proudly hold all these attributes and more. Our approach to managing properties not only allows our clients to make it on the market but rise above the competition. Ask us about our proven approach to success and start looking forward to the most promising and profitable future for your property.