Property designers, architects and building developers know that owning a rental property these days means having to hire effective property managers to run the property as you, the owner, cannot be present all the time. Designing a property is only part of the ongoing puzzle.
While we have looked at many amazing examples of building designs and architecture here at DesignBump ( pictured belowÂ is the so called Donut Hotel in China.)
We sometimes forget that all properties large and small need ongoing maintenance and management. This is especially true if the property is to be rented or hired out on lease.
Itâ€™s absolutely essential to hire the right kind ofÂ property managersÂ for the job, as they will be in charge of the day-to-day operations of your property while you are not there.
Ideally you need a person or a firm that will treat the property as if it was their own. Real dedication to the task of managing your property that not every contractor can provide.
These are the trusted people and firms that will protect your property design and investment long into the future. YetÂ what makes a good really property manager? How do you know who to hire?
There are several qualities to look for when researching property managers. These things are typically the hallmarks of the kind of person who is best suited for this demanding job. In this property design feature we explore some of the issues involved in sourcing the correct expertise.
Detail Oriented and Organized Property Managers
This is arguably the most important characteristic of a great property manager. A property manager will be charged with doing a variety of different tasks.
These tasks include ensuring timely payment of rent, communicating with tenants, resolving tenant issues, managing maintenance needs, and much more.
That is a lot of juggling, and itâ€™s important to hire someone such asÂ Montreal property management expertsÂ who can effectively manage all of these stressful things at once.
Sufficient Legal Knowledge in Property
A successful property manager doesnâ€™t have to be a lawyer, but he or she should have a certain degree of legal background. At minimum, they should know the commonÂ property laws as they pertain to the job.
Although the manager will always have a qualified legal team in his corner, itâ€™s very beneficial if he has a solid, basic legal foundation that he will need to perform his daily job without having to consult a (costly!) lawyer.Â
Dedication to the Task
A property manager should always be dedicated to the job. This may sound obvious, but a property management job, for some people, is just a job. Itâ€™s better to hire someone who has a depth of experience, expertise, and knowledge in the industry.
This is a good indication that they are committed to the industry and will approach the job with the requisite amount of seriousness and dedication.
First-rate communication skills
Much of what a property manager does revolves around communication.Â Communication with tenants, communication with maintenance people, potential renters, other members of management team, etc.
These are the common tasks that the property manager will be charged with daily. Someone who is eloquent, a good speaker, and able to express himself clearly and serve as an intermediary between sparring parties is a very important quality for a property manger to have.
If you are a property owner and are seeking someone to take care of your properties for you, you probably feel a measure of apprehension.Â Thatâ€™s with good reason!Â Itâ€™s a big job to manage a property, and you want to protect your investment as best you can.
If you look for a potential set of property managers that have these essential qualities, youâ€™ll be well on your way toward hiring someone who is beautifully suited to the job of managing your property.
Just as you sourced a great property designer to build it. Be equally certain to hire someone professional who would manage the building as well or better than you would if you were there every day.