Wednesday, April 20 2011
Phoenix Property Management. What makes a good property manager?
Understanding of how to keep a property well maintained - The property should be maintained to the standards set by the owner, for the appropriate cost for the area, and in a fashion that keeps the tenant happy.
You see, I believe in keeping your eye on the core business and not being distracted by the elements that other people are experts at. A good property manager could outsource the things that do not apply to the core business. Basic knowledge of things like contract law, accounting, and software should be required, but a lease can be reviewed by a lawyer, books can be maintained by an accountant, and software can be outsourced to a good property management software company.
The qualities that I, as a rental property management software provider, will be measured by must include a strong understanding of technology, since that is my core business. The qualities that a property manager will be measured by will be a strong understanding of real estate.
So the answer to the question of how we are measured is very much yes and no. A good property manager does need to have many of the qualities on the list, as all of us do. But just as important if not more important is a strong understanding of the core business, managing properties.