Real estate properties are like toddlers. They’re messy and difficult to bring under control, and they require a steady hand.
That’s why more than 360,000 Americans work as property managers. If you have a rental property that needs repairs and supervision, you should hire a property manager right away. But you shouldn’t hire the first manager that walks in through the door.
What are the skills that a good property manager will have? What questions should you ask your applicants for a manager position? What licenses should they hold?
Answer these questions and you can find the perfect property manager for your needs. Here is your quick guide.
A good track record is the single most important qualification a property management professional should have. A manager’s resume should describe where they worked and what they learned on the job.
But you shouldn’t hire a manager just because they have a lot of experience. Your manager should have specialized experience related to your needs. A manager who is experienced with commercial properties may struggle with residential properties.
References and Reviews
You shouldn’t take a manager’s word for everything. You should ask them for references and run their resume by their references. If the manager lied about their resume, you should drop them and go to another candidate.
Most managers and property management companies have Yelp profiles. Visit their profiles and read reviews, including one-star and five-star reviews. Try to see what their strengths and weaknesses are, especially with time management.
A manager should have a few different licenses. They should have a real estate broker’s license and a property management license. They can get both licenses from a state real estate board.
You can also find managers with a real estate salesperson license and a leasing agent license. These licenses aren’t as important, but they allow a manager to lease and sell properties directly to homebuyers. This can allow you to earn more money off of their work.
A manager does not need to have formal experience or education in marketing. Yet they should know about how to promote properties and attract new tenants.
Ask to read their listings and see how they describe different properties. You should also read their work on social media and evaluate how they run Facebook and Twitter pages.
Visit a few different property management websites so you know what good real estate marketing looks like. You should view more information about the marketing services offered by property managers, including photography and copywriting.
Finding the Best Property Manager
A property manager should have several important qualifications. They will have plenty of experience with managing properties similar to yours.
References will vouch for their credentials, and reviews will outline their strengths. If they have weaknesses, the manager should work on those weaknesses to overcome them.
Your manager should have licenses in real estate management and sales. They should have some professional experience in marketing, working online and in real life to promote different properties.
Once you have a manager, you can start your real estate journey. Read more property management guides by following our coverage.