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Top Skills for Property Management Success

PROPERTY MANAGEMENT

Property management is a competitive business. Rental property is important, and both property owners and property renters rely on skilled property managers to facilitate a satisfactory experience for everyone involved. To be successful as a property manager, you need to cultivate and hone certain skills. Take a look at some of the most important skills that property managers need to have to succeed. 

Communication Skills

It should come as no surprise that communication skills are at the top of the list of skills needed to succeed in property management. As a property manager, you’re in the position of facilitating communications between the owner of the property and the residents that live in the property. It’s your job to communicate resident concerns to the owners and make sure that they make provisions for resolving those concerns. It’s also your job to communicate owner needs and concerns to the residents.

That’s not all. Property managers do most of the communicating with contractors, vendors, and other professionals that have business on the property and with owners or residents. It’s your job to relay messages accurately and ensure that everyone is on the same page at the same time. You need to be skilled at communicating at a high level to succeed in property management. 

Technical Know-How

As a property manager, you need technical know-how in several areas. From understanding how to post online advertisements and respond to reviews in online forums to the ability to understand what might be wrong with a pool pump or vending machine located on the property, your knowledge of technical issues will be tested in a variety of ways. 

You don’t necessarily have to be able to handle every marketing task or on-site repair yourself, but it will help to have some base knowledge of the tasks that need to be done and how the equipment on the property works. For those jobs you don't have the time, knowledge, or inclination to handle along, another important part of the job is the ability to designate tasks and hire reliable workers.

Vision

The ability to visualize what’s likely to happen in the future is a difficult skill to quantify, but it’s a good skill for a property manager to have. What amenities are residents going to want in the future? What trends are forming with respect to the types of people who will be renting properties? What will renters need from their properties next year that they may not have needed this year? These are the types of questions that successful property managers ask themselves. 

For example, you may notice that more of your busy residents are looking for ways to make their regular chores and errands like laundry and dry cleaning easier on themselves. Knowing that, you might decide to look into having Tide Cleaners installed on your property.