No doubt our astute and regular readers recall we’ve gone over some great tips for property managers, as well as some mistakes they should avoid, before. But knowing a thing or two about a thing or two is no reason to stop learning. There are always more pointers and good ideas you can learn in any field. And property management is no exception. Here at AHRN, we’re all about helping you be successful at it today and even more successful tomorrow.
Know Your Properties
And we mean really, really know them. Inside and out. As a property manager, know which properties have finicky appliances. Which ones have drainage issues. Which ones have a sticky automatic garage door or had termites six years ago. The more you know about each and every property you oversee, the readier you’ll be to maintain, manage, and/or repair it. And the faster you’ll be able to answer any questions a tenant (or potential tenant) may have about it.
Communicate With Tenants
Don’t just talk to your tenants when there’s work to be done. Reach out regularly to check in, stay up to date, and get to know them. It builds solid trust and a good rapport, which is nice, but can also save you in the long run. Chatting with them regularly can alert you to minor issues with the property that they may not think much of but you know could turn into big issues down the line. Plus, they’ll be much more likely to keep you quickly apprised of changes in their lives (PCS’s, deployments, family changes) that can impact a property manager as well.
Build a Solid Team
We mentioned before that you might have to outsource some of the more technically complex maintenance and repair tasks. When outsourcing it’s best to go with people and business you know well and count on regularly. It may take time to find the right folks for the right tasks, but when you do use them whenever you can. The more business you can give them, the more likely they will be to work for you. And building that kind of trust and teamwork will ensure things get done quickly and properly. Even for simpler tasks that require multiple people, having regulars to work by your side will make it much easier.
Don’t just wait until something breaks or someone complains. Conduct regular inspections of each and every property you manage. Set a schedule that works for you, obviously. But at least once a year, if not more, go over each home with a fine-toothed comb. It will give your tenants peace of mind knowing you’re keeping an eye on things and allow you to head off most potential issues before they become major problems.
Do it Now
Whatever it is. Just get on with it. Make that call to a tenant. Carry out that inspection. Patch up that teeny, tiny crack in the drywall that might not get worse but you never know. Procrastinating’s easy, but nobody ever really succeeds by doing the easy thing.
We highly doubt these will be the last tips of the trade we have for property managers. In fact, we make it a point to always be on the lookout for more such tips. But these five are definitely handy ones you should add to that no-doubt long to-do list of yours. And as long as you keep up the good work, which we know you will, we’ll keep supplying you with the info you need to thrive.