When you become a property manager, like real estate investor and developer Hunter Estess, it is your responsibility to ensure that everything runs smoothly. This entails making sure all the required information is presented to the property owner in a timely fashion, as well as ensuring that your residents are happy. Here are some key management tips that can help you become a successful property manager.
- Always have a complete contingency plan outlined in advance. Make sure you cover what to do in case of a flood, fire, or other natural disasters. You need to act quickly under these circumstances and without hesitation. When you have a plan in place to handle these types of situations you can ensure everything runs as smoothly as possible.
- Even if you have on-site maintenance at the property, there still may be things that are better off being outsourced. Make sure you know your staff’s specific strengths and weaknesses and have a proficient person on call if needed.
- Try and minimize the paperwork you have in hard-copy. Too many hard-copy reports and other paperwork can create confusion, limiting the efficiency of the office. Consider using property management software to help reduce the need for extensive paperwork.
- Make sure you have a protocol in place for dealing with unhappy customers. To avoid receiving negative feedback from your residents, you need to be able to quickly respond to legitimate issues.
As a property manager, your goal should be to minimize the chaos and complications inherent in running one or more properties. Hunter Estess is a successful real estate investor and developer in New Orleans, Louisiana.