Being a good manager requires discipline, certain qualities, and efficient habits that take you to the highest management level. Not everyone is apt as this, but what most can do is learn from the best. Here are some very successful habits of the most efficient managers that can help you manage your property and your tenants. Applying the following will help you up your game and become a better manager than you are now.
Work On Your Communication:
Communication is the core of everything; whether you are buying or selling, whether you are raising kids or pleasing your boss, a well-communicated message will go a long way. Keep standard templates for common issues like maintenance and repairs, tenants can fill them up on the website, and you can then take care of what needs to be done. Forms like such help do the work in half time and with extra efficiency.
Quit Procrastination:
The worst thing you can do as a property manager is procrastinating. Leaving things for later, forgetting to do them altogether, can become a serious problem for property managers. Your renters depend on you for instant actions and solutions; by procrastinating, you are hurting your property as well as your image. Getting things done in record time is how you become an efficient manager.
Stay On Top Of Current Trends:
As a manager, you need to stay ahead of your game; you need to constantly check out the trends and changes in the market. Keep analyzing your ways and methods to make them work better and attract better tenants. Where ever you apply, your current knowledge of things will pay more than your experience.
Have A Smile That Never Rests:
A smiling, positive attitude goes a long way. An efficient manager doesn’t only have a can-do attitude, but he also has that reassuring smile that conveys the message of “the work will be done in no time.” despite heated arguments and disputes between the tenant and the landlord, the manager should never lose his calm or his smile.
Think Future Always:
The future is tomorrow, and the present should be planning about the future. Never rely on old habits and ways; use the technology of the future to build your present. Make use of current software, apps, and cloud synchronization to keep your management process efficient and simple. These changes do take time to adapt to, but once you get the hang of it, they make life simpler.
Setting Goals And Strategies:
Every business need goals and strategy; property management should be no different. Having long-term goals will help you judge your performance as well as help you get better at your job. Setting short-term and long-term goals not only keep you motivated but also help you focus. Set strategies to lessen expenditures, increase tenant retention, meet tenant expectations and increase ROI.
Be The Decision Maker:
Procrastination only applies to work, but also decision making, dare to take calculated risks, and make hard decisions. Listen to your gut feeling; if you have a good one, make the decision and stick to it. Such determination pays off in the long run.
Stay On Your Toes:
You have a strategy, and it works. Now what? Do you stay still, or you stay on your toes, curious as a cat, and keep innovating? This is a significant change and a big step towards success. People who are curious and managers who are constantly moving earn big. So, don’t just stand with a good strategy; keep moving and work at your strategy to make it even better.
Know And Engage The Tenants:
You may be their manager, but these tenants look up to you for everything regarding the property. So, by forging good connections, you can be sure that these tenants will stay with you for the next contract too. Once you start engaging people, you will find that you communicate with them on a better level. This will help you get in the good books of your tenants, which will lead to efficient management. High-quality service, easy communication, and transparency are some of the steps that can help you engage and know your tenants better.
Keep The Property Up-To-Date And Clean:
Nothing makes a good impression than a modern, up-to-date and tidy property. You can be as charming as you want, but if your property is a broken-down shed, no one will look at it twice. Keep the inside as well as the outside of the property free of clutter; a fresh coat of paint before staging and visible repairs do go a long way in making that first impression positive. Every time a tenant moves out, do a proper inspection and repair anything that seems amiss.
Self-Driven Managers Always Succeed:
No one can motivate you better than success, and success comes to those who are self-driven. Your intense desire to succeed will only fuel your passion and make you ambitious; this is all you need to make a name of yourself as the best manager in town. Being self-driven needs the following:
- Innovative ideas
- Getting in touch will all manager’s groups and associations
- Research and analysis
- Attending workshops and seminars to learn better and grow bigger
Inspections:
How much or litter should you inspect your property, will it annoy your tenants, will you be invading their privacy? All these questions are very common when it comes to the word inspection. Regular inspections, quarterly, will not only keep your tenants on their toes but also help you handle your property better. Let your tenants know your inspection schedule, and there will never be a privacy invasion issue. With regular inspections, you can help your property gain value by doing timely repairs, keep your tenants happy by engaging and also make sure there are no illegal activities taking place on your property.
Conclusion:
Being a manager isn’t easy, but if you have a system that works for you, the whole task becomes a breeze. Always be determined to learn new strategies, gain more knowledge and prioritize; all of these can help you become the best and most efficient manager in no time.
If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty.
As a top producing Realtor and Property Manager; Terry specializes in sales, extensive construction homes, rentals, REO’s, short sales, and all aspects of Real Estate. After graduating the University of Michigan with a master in MBA, Terry continued his endeavor and now has over 15+ years of experience in the Real Estate world. If there is anything that has to do with Real Estate and sales, you can always be sure of Terry to provide important, specialized knowledge.
