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What makes a Good Property Manager?

Collaborative Property Management • Sep 27, 2019

What makes a Good Property Manager?

Being a good property manager is like being a good parent. They have to have good communication skills, be proactive, be resourceful and level-headed, and be personable and able to articulate what they need and expect. It takes a mixture of skills to succeed, some specific and some harder-to-define, but the most important tip to be a good property manager in Savannah, GA is to be able to communicate well and relate to people.

Communication Is Key

Effective communication is the key to keeping the building going. The property manager has to ensure everything runs smoothly which requires everyone to be on the same page. Conflict is often caused by misunderstandings, which are themselves caused by a lack of communication. A property manager must be able to see from the perspective of others. They need to hear what people are saying and solve problems. They have to know how to understand everyone’s views and balance them to create a fair and effective solution.

The property manager acts as a middleman for all involved with the building. They need to be good diplomats and interpreters. They must listen, understand, and translate messages between the different involved parties.

A Little Knowledge Goes a Long Way

As well as being an effective communicator, good property managers keep key decision-makers in the loop. They should provide two reports a month – one financial report and one physical report and the day-to-day management of the building.

A good property manager in in Savannah, GA should write a financial report that includes a general ledger showing the projected budget against the actual budget, along with accounts payable status reports on the unit owners and shareholders. It should include a check register showing the money distributed that month, as well as copies of bills, checks, bank statements, and a bank reconciliation. Basically, they should provide board members with every bit of financial information that they might want.

The second report includes the correspondence between tenants/owners, management, and the board, as well as other paperwork related to the building and its operations. Keeping the board regularly updated like this ensures the board is fully prepared and informed and is less likely to be caught out by unexpected surprises.

A Balancing Act

Being a property manager is a fine balancing act where one has to anticipate and manage logistical issues without overlooking the responsibilities to those within the building. Things such as cell phone and email means the property managers are always available when needed. They have to be able to deal with people and answer questions effectively.

Property managers need to effectively split their time between being in the office and out in the field. It also helps to have an assistant manager handling things in the office and relaying messages to the manager as needed. As with most things in the Internet age of immediacy. Property managers are expected to respond as quickly as possible.

Professionalism And a Physical Presence

Property managers should maintain a physical presence by visiting buildings once or twice a week. Effectively managing employees and keeping a flexible visitation schedule prevents staff from getting complacent when they know that the manager won’t be stopping by.

When handling professionals associated with running a building – attorneys, accountants, and service providers – managers should act professionally. Dealing with accountants and lawyers requires the same basic communication and interpersonal skills needed to work with anyone, including an understanding of what duties the different professionals perform.

Summary

The work of a good property manager is never done. If you’ve got someone who is able to stay on top of gas and electric prices, take care of tenants, mediate disputes between staff members, and generally keep everything running, then you have an effective property manager.

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