Being a successful property manager requires you to have a high level of dedication and attention to detail. It is not an easy job, and it can be challenging to find the right person for the position. When you have so many things on your plate, one task that often gets overlooked is the hiring process.
You need to find someone who is going to be a good fit for the position and your company. Fortunately, it’s not difficult to identify those who are cut out for the job when you know what qualities you should look for in potential candidates. A great property manager will think strategically, pay attention to details, work well under pressure, and remain cool under stress.
The best property managers always have their candidate’s best interests at heart—and vice versa. Read on for tips about what qualities are important when hiring your next property manager.
Essential Qualities to Look for When Hiring Your Next Property Manager
Be sure candidates are licensed and certified
Proper licensing is essential in property management. It shows that your candidate is properly trained and qualified for the job. Additionally, certain licensing requirements are mandated by law, such as the amount of liability insurance that must be carried by a company that manages properties on behalf of others.
Make sure your manager is properly licensed and has the proper insurance coverage. Another important area of certification is education. If your candidate has a degree in real estate or business, they have a head start on knowing the industry and its nuances. They will be able to understand your needs and concerns so they can better meet them.
Good communication skills
Communication is a must in every industry, but it is especially important in property management. Your candidate will be communicating with tenants and potential clients in person and over the phone.
They will be communicating with vendors, contractors, and owners. Even communication with co-workers will play a large role in the success of the position. An effective communicator will be able to get their point across quickly and clearly, working with others and communicating their needs in a respectful manner. Communication skills are best evaluated during the interview process.
Make sure to give your potential manager an opportunity to speak as part of the interview. Be sure to ask open-ended questions that allow for a discussion about past experiences, skills, and challenges so you can see how they communicate and approach challenges.
A willingness to be trained
Even though your candidate has experience in the industry and may have been successful in their previous positions, they need to be willing to be trained. This shows that they are open to new ideas and techniques, as well as the supervision of a manager who has more experience.
Your candidate should be open to learning new systems, technologies, and standards of practice. This will help them grow in the position and thrive while they are with your company. When hiring, look for candidates who have experience in other industries, such as the retail or food service industries, where they may have been required to conform to new standards and expectations.
Honesty and integrity
These traits are essential in every position but are especially important in property management. Your potential manager will be dealing with tenants and vendors on a regular basis. You must be able to trust that they are doing what they say they are doing and will be transparent with you when you need them to be.
Be sure to ask your candidates about past experiences, including what went well and what could have been done better. Good candidates will be able to reflect honestly on their past and show you how they have grown. You can also ask your candidates to take an integrity and honesty quiz, which will help you evaluate their responses.
Another tactic you can use is to have an outside individual, like a friend or colleague, sit in on the interview and ask the candidate a few questions related to integrity. This can be a helpful way to gauge the honesty of your candidate.
An eye for detail
Real estate and property management are all about details. Your potential manager will need to have an eye for details when they are reviewing prospective tenants, assessing current tenants, and managing the day-to-day operations of the business. Be sure to check references for examples of times when your candidate noticed and pointed out details that were important but overlooked by others. You want to make sure that your manager will be able to spot potential problems before they become serious issues.
Hiring a person who has an eye for detail is important because it helps you avoid costly mistakes such as accepting the wrong tenant or missing an important violation on a property.
Accountability and responsibility
A good property manager is accountable for their actions and takes responsibility for their mistakes. They will always be willing to own up to their own responsibilities and mistakes, as well as those of others in their department. A responsible manager will be able to step up when there is a problem and find a solution, as well as make necessary adjustments going forward.
A manager who is not accountable and not willing to take responsibility for problems they cause or fail to solve will likely become a problem for your company. Ask your candidates about challenges they have overcome in the past, and also make sure to ask about challenges they have currently overcome. A great property manager will have experience overcoming challenges and being successful in the face of adversity.
Willingness to go above and beyond
A great property manager has the drive to go above and beyond in their work. They want to help their company succeed, and they want to help the company succeed quickly and efficiently. You want to make sure that your next manager is not just meeting their minimum expectations for work, but is exceeding them.
You want to hire a person who is committed to excellence and wants to do their job well. You also want to hire someone who will go above and beyond for their clients, making sure that they are satisfied with the service you provide. When interviewing your candidates, make sure to give them some challenging scenarios and see how they handle them. Ask them how they would go above and beyond for a client or a manager. This will give you insight into their personality and what they are like when they are challenged.
Other Important Traits Of a Great Property Manager
A good property manager will be attentive to your needs and prompt in addressing any issues you might have with their services. They should not be ignorant of what their company requires or what the client is complaining about.
Although online reviews are not always reliable, they can still be helpful in terms of getting an idea of how a company or its property manager is perceived by clients. The more negative reviews they have, the more careful you should be when pursuing working with them.
The ideal property manager will be upfront with you about what they think, what they can achieve if they are associated with your company and how they will achieve what they are claiming. In short, they should be transparent and logical in their thoughts.
This is another trait that a good property manager will possess. Professionalism is imbibed in behavior and the way he or she approaches the problem. This can be easily identified in an interview.
Accuracy and timeliness
A great property manager will provide you with accurate information at all times. Whether it be regarding the status of repairs, the rent roll, or any other aspect of your properties, you should be receiving data that is timely and thorough. If a property manager has a history of providing inaccurate information or data, they will likely not improve their practices any time soon.
You should also be able to rely on a property manager to turn documents around in a timely manner. This includes items such as receipts for repairs, notices to tenants, and copies of leases. It is also important for a manager to be able to submit accurate information to relevant entities, such as tax collectors or insurance companies.
Continual Improvement Processes
A great property manager will constantly be striving to improve processes and procedures as he/she learns from experience. Keeping up with industry trends and best practices and incorporating them into your business is essential. Doing so will allow you to enhance operations and get more done with fewer resources.
You will also be able to avoid making costly mistakes due to inexperience.
Finding the right property manager is critical to the success of your real estate business. If you want to make sure that you hire the best manager for the job, it’s important to look for these qualities in candidates. They will help you find the best possible person for the job and help your business thrive.