If you are thinking about starting a property management company or taking on a career in the industry, you need to make sure you have the skills that will allow you to succeed. Being in property management may seem simple to those with little experience looking in from the outside, but it is in fact very complex.
Some of the most successful people working in property management possess the following skills.
A Real Estate Or Property Management Certification
This is not always the most important thing if you have a variety of other traits that could make you successful. After all, the appropriate training can be conducted in conjunction with on the job training and experience. However, this can still be beneficial if you intend to start working for an established property management firm.
You Have An Understanding Of Building Maintenance And Basic Repairs
You don’t necessarily have to have the skills to complete all property maintenance on your own. But you do need to have some hands-on experience with the work often conducted by contractors and other skilled professionals. This is the only way you will be able to ensure that you hire the right people and verify the quality of work.
You Have A Grasp Of Basic Property Inspection
While you may not be personally responsible for performing maintenance tasks as a property manager, property inspections are within your domain. You should be able to independently identify maintenance needs for the safety and satisfaction of your residents.
Experience With Finance
As a property manager, you do not need to be an accountant, but you will be responsible for financial calculations and keeping tabs on cash flow. Now, there is accounting software that allows you to keep track of rent collection amounts, and even collect rent virtually from residents. So don’t worry about doing it all on paper if you don’t want to!
Strong Customer Service Skills
In order to be good at your job as a property manager, you are going to have to be personable and deal with residents on a regular basis. Effectively, working in property management is working in customer service. You will also need to have the skills to form positive working relationships with contractors, as you want to keep quality people around at all times.
If you have many of the skills mentioned above, you may find that you are well-suited for a career in property management!