Key takeaways
- How your property management team performs can impact the properties you manage.
- The primary purpose of a property management team is to manage properties and oversee daily operations.
- The five qualities of an effective property management team include reliability, ingenuity, professionalism, experience, and communication.
The duties of a property manager are numerous and can often become overwhelming without adequate help. So, if you manage a property — or a number of properties — then building a strong property management team should be your top priority.
But the quality of your management team can have a major impact on the efficiency and appearance of the property you manage.
Below we talk about the process of building an effective team, what to look for, and how to manage a diverse group of people.
In this post, discover:
- What is the main purpose of a property management team?
- What makes a good property management team?
- How can you ensure a successful property management team?
What is the main purpose of a property management team?
The main purpose of a property management team is to manage properties by overseeing organization, leasing, and maintenance needs. Most successful property management companies oversee daily operations at many types of properties, including apartments, commercial spaces, industrial complexes, and gated communities.
The most important property manager duties your team will collectively perform include:
- Marketing. Unless otherwise stated, property owners likely aren’t interested in marketing and advertising their property. Instead, property managers head the marketing campaigns. Further, they usually run social media accounts as well.
- Resident management. Owners rarely have time for the consuming task of managing residents and prospective tenants – thus why they hire property managers. Having a team to help manage a number of residents is even better than just one manager.
- Property maintenance. Maintaining the health of a property is time-consuming and requires all hands on deck. The more people you have to help juggle maintenance requests and property upkeep the better.
- Rent management. Imagine you have a number of people that owe overdue rent. Or maybe you just need to process checks and rental payments for many residents. Each month, these dues will add up which means you’ll need a team of people to make sure nothing else on property is being neglected.
Other duties performed by a property management team may include:
- Vetting new tenants.
- Performing repairs or hiring and communicating with third-party contractors.
- Property bookkeeping.
- Handling resident complaints.
- Collecting rent.
- Adjusting lease terms, including extending or shortening leases.
What makes a good property management team?
Resourcefulness, attention to detail, and passion are the characteristics that make up a good property management team member. If each person on your team has these fundamental traits, then you can train them to do just about anything else.
But, when building your dream team of property management, what should you keep an eye out for?
Here are five qualities to look for when hiring property management team members:
1. Reliability
Imagine it’s one of the busiest times of the year and one of your staff is nowhere to be found and isn’t answering their phones. You’d be frustrated, not only by their lack of presence but also by their lack of overall reliability.
Ensuring that you only hire people with a proven track record of reliability can help cut down on scenarios such as this. Asking for references is the best way to know for certain that you’re hiring a worker that you can trust to be punctual and helpful.
2. Ingenuity
When you work in a fast-paced property management service, having team members that are critical thinkers is a must. The reason is that someone with a spirit of ingenuity rarely needs someone to hold their hand while they make a decision.
Furthermore, someone who can think of a solution to the most difficult problems, such as emergency property maintenance, is likely someone that will remain calm during a crisis.
3. Professionalism
When you hire property management staff, you’re hiring people that represent the property and its owner. That’s why it’s critical to only place people with a professional disposition on your team.
Remember, professionalism is more than appearance — it’s about the way someone holds themselves and how they interact with others. But what does that look like in practice?
Professionalism in real estate management means your staff member is:
- Courteous and mindful of resident needs.
- Quick to defuse tense situations.
- Able to understand someone’s point of view.
- Polite and receptive to prospective tenants.
- Slow to quarrel with team members and property staff.
Discover resources for training a property management team:
4. Experience
Hiring someone with experience in the real estate or multifamily property sphere is going to help you be able to rely on a new team member.
Experience doesn’t have to mean that your new hire is automatically good at every visitor management system or software. It only means that this new staff member has experience within the industry. This makes it easier for them to assimilate.
5. Communication
Verbal and written communication skills are one of the most important qualities your team members should possess. Consider all of the emails and policies you’re tasked with crafting, plus the phone calls and face-to-face conversations with residents.
Your property management members should be able to coherently communicate and make their points understandable to all types of people.
Moreover, the way a residential property manager communicates with tenants can have a significant impact on retention rates and satisfaction. Make sure everyone on your team knows the best way to communicate with others.
How can you ensure a successful property management team?
While hiring the best candidates for your property management team is a crucial part of creating a successful property management team, it’s not the only task.
There are many things you can do to lead by example, including:
- Invest in the best property management software.
- Routinely update your employee handbook.
- Keep up-to-date emergency action plans.
- Stay abreast of financial projections.
- Keep a comprehensive database of contacts for vendors, contractors, employees, and tenants.
- Building an intuitive and organized office environment.
