I get it, property management scares you.
Maybe you did it for five minutes when you first started in real estate and now you’re terrified of it.
Yes, you have a bad experience but I want to assure you that is not what property management is all about.
To all the property management (PM) professionals out there, the ones who have built careers, relationships, and portfolios from the ground up, and who continue to absolutely kill it – you’re awesome.
So, let’s talk about what it takes to take PM from being a rude word, to being a fulfilling, rewarding career.
1. You could give a project manager a run for their money
Need to get a new tenant into a property only three hours after the landlord moves out? Got it.
Oh, it’s filthy as well? On it!
To be an ace PM you need to be able to prioritise on a dime and pull favours out of thin air.
This takes an immense level of organisational and interpersonal skills to balance the workload and convince your brilliant cleaners (or plumbers, or electricians, or roofers) to down tools and haul it quick smart to where you need them most.
This is no mean feat.
Building trust with stakeholders to achieve the outcomes you need for your client is key to success here.
If you’re not using those relationships to your advantage, then start, quick smart.
2. You see a tricky client as an opportunity to create a promotor in your next NPS survey
Jamie the landlord is not happy.
They didn’t know they had to pay their landlord’s insurance and now they have a flood repair to manage, no time, no rent coming in, and they are being vocal about the situation.
This is no trouble for PM superstars.
First, you probably sent them a reminder to suggest they have a landlord’s insurance policy and it’s up to date.
You may even have a record of its expiry.
Failing that, you can implement a solution that gets the property cleaned up in a jiffy and advertised for new tenants to move in as soon as it’s done.
In the meantime, you keep Jamie up to date every step of the way, using your technology as a tool to support communication.
What’s that? You’d be highly likely to refer us to a friend or family member? Thanks Jamie!
3. Property management and sales aren’t so different
Prospecting your current landlords to determine if they have more properties you could manage comes as second nature.
So does chatting to your local clubs and community to bring in new leads.
Carrying out appraisals and attending listing appointments is all in a days work.
PM superstars know that growth is an important part of successfully managing a portfolio.
They have their portfolio in a good place, so they are ready to take on the next property and build their client base.
How do they do that I hear you ask?
With great processes and procedures.
Supported, of course, by their team, managers, and principals.
When you really look at it, property management and sales aren’t so different.
Everyone works to ensure their clients are supported, their returns are maximised and the properties are looking their best.
For those PM’s out there who aren’t quite there yet, don’t worry.
It is a skill that can be learned.
And when you learn it, you will find a brilliant career and fulfilling relationships are right around the corner.
