The assumption among property investors and owners is that all property managers are alike, which gives them a reason to hire management companies requiring the lowest fees. While it can save you money at first, inefficient property managers can be the cause of your headaches in the long run.
It is the role of property managers to keep both owners and tenants satisfied, and not be the source of the problem. To help you look for the most qualified commercial property management companies, here are some qualities you can look into.
First of all, you want to hire someone who is excellent in this area. Being a property manager entails dealing with both owners and tenants, and being able to properly articulate their needs. They also should be able to answer the tenants’ questions well and raise good clarifications and justifications in cases of misunderstandings.
The good news is that this skill is quite more apparent than others, so you already have more or less an idea if your potential employee qualifies just on the first or second meeting.
There are cases where favourable reputation is possible with good advertising, but more often, good work can speak for the management company. Hire someone who has had expansive experience in the industry working with various kinds of tenants. It is always good for businesses to have a management that knows how to handle complaints about higher security deposits, zero tolerance policy on late rents and rent increases.
Excellent organisation skills
Your property manager will be doing a lot of paperwork, forms and checklists. He or she should have a thorough system and an organised plan to oversee all details in securing your interests, as well as the tenants’. Hire someone whom you feel is sharp, observant and quick on their feet.
Of course you cannot expect everything to run perfectly, but it benefits you greatly to set the right expectations and do what you can at the moment. Do your research, be receptive and at times, trust your intuitions.