Learn How to Become a Property Manager With These Tips

how to become a property manager

Are you looking for tips on how to become a property manager?

If you’re interested in real estate, but would also like to apply your organizational and managerial skills to the job, this is the career for you.

As a property manager, you’ll have a wide range of responsibilities. You’ll advertise properties, screen potential tenants, check properties for maintenance, make contracts, and deal with finances.

Being proactive, solving emerging problems easily, and focusing on the customer’s needs are some of the main skills you’ll need for this job.

At the same time, you need to work well under pressure, be flexible and follow procedures.

Keep reading to discover the steps you can take to become a property manager and build a successful career.

Get Certified

You’re not required to hold a specific certificate to become a property manager. But when you apply for jobs, this will show potential employers that you’ve made an effort to learn all about the profession.

On the plus side, you’ll also have hands-on knowledge about the field that some of your non-certified competitors may not have.

And if you don’t have any form of qualification, some employers may offer you to obtain one on the job.

Demonstrate Your Experience

Sometimes, having first-hand experience in managing properties is more important than having a certificate with zero experience.

This job comes with a lot of tasks, all of which require a different level of preparedness.

For instance, you’ll need to draw up legal contracts and rental agreements. So you can use your experience as an office assistant to demonstrate that. Also, if you’ve worked in customer service, you’ll gain points for being customer-oriented.

You can show you’re qualified for this job by outlining various skills and experience from previous positions.

Consider Your Competencies

If you want to impress a potential employer and land a job as a property manager, you have to demonstrate your competencies.

To manage finances, for example, you need to show your accounting abilities. Or, when a property needs maintenance, you need to be proactive and solve problems quickly and effectively.

And at the end of the day, you need to know how to communicate with the customers and meet their needs.

Even if you don’t have a lot of experience or certifications, knowing how to highlight your abilities is a step forward.

Be Unique

Once you’ve figured out how to become a property manager, you need something that’ll set you apart from others in your field.

For example, in your resume, write examples of situations where you gained the skills needed for the job.

These don’t need to be in the field of property management. For instance, talk about how you successfully resolved a conflict between employees, or how you managed a team of several people and achieved great results.

Now You Know How to Become A Property Manager

If you’re an organized, self-motivated and hard-working person, property management may be a great career choice for you.

Need to learn more about properties and real estate? Check out our blog or contact us if you have any questions.

Top Tips For Finding the Perfect Phoenix Property Manager

When searching for a property manager in Phoenix, Arizona it’s important to consider a several things to ensure you are making the right choice. Essentially you are interviewing someone for the job of looking after your property when you decide you no longer cannot. A good property manager can save you lots of time, effort and money. However, a poor property manager can neglect you property, source it with bad tenants and even create housing violations in your name. The reasons to hire a property manager such as OpulentRE.com can differ from one owner to another. Regardless of why you have decided to hire a property manager, here are some quick tips to get the most bang for your buck.

Track Record: Determine how much experience is worth to you. A property manager with a long history of success, few complaints and many satisfied building owners, is a good place to start. However, a long track record doesn’t always equate to success. A young energetic and growing property management firm might just work hard to get and retain your business.

Qualifications: Check the credentials of everyone you interview. Ambition and the desire to make clients happy has the ability to impress just as much as a wealth of experience. However, one thing that must be there is the qualifications of the property management company and its individual managers. Be certain they have been professionally trained to take on the role as your next property manager. Experience is one thing, training is another.

Maintenance: Check the track record of the company’s maintenance affiliations. Phoenix property managers have a wide array of choice in maintenance companies, contractors and repair services. The last thing you want is for your tenants to wait days for repairs. A quality maintenance team addresses problems quickly before they become a crisis.

Tenant History: As a landlord you value nothing more than good, honest and reliable tenants. The type that treat your property as if it was their own. Look closely at the tenant-client history of these property managers. Tenant retention means satisfied renters in many cases. This also means the property manager is keeping the property in good shape and maintaining it enough to make tenants stay. A good renter will appreciate this type of effort leading to on-time payments and longevity.

References: Just as you did when you applied for a job, references are worth their weight in gold. Talk to other property owners in Phoenix and see who they use. Interview them and ask questions about price, services, reliability and track record. Get the information straight from the client themselves. You are more likely to get an honest assessment of the property manager in many cases. Never underestimate references in your search for a property manager in the Phoenix area because there are many companies competing for your business.

Cost: In the world of property management many Phoenix-based companies will charge a fee ranging from 5 percent to as much as 20 percent per month. Be wary of what services you are paying for and compare multiple quotes. You can easily overpay for less services than that of another company who might provide you more for your fee. Stack up and compare, then decide which services are worth more for your property’s particular needs.

What You Need to Know About Property Management Fees

property management fees

A poorly run and badly kept building is no good to anyone. Which is why property owners hire property management companies. And that is why renters will have to pay property management fees.

But some property owners don’t see a management company as an asset, they see it as an expense. So they don’t really see where their property management fees go.

Let’s take a closer look to show you the real value you’re getting.

Property Management Fees Pay For: Occupancy

Your property management’s job isn’t to simply look after the building. They’re there to make sure it is as marketable and attractive as humanly possible for your would-be renters.

You may think of them in just the custodial sense. You’re paying someone to answer the call when a tenant’s toilet is running, or someone to make sure the grass out front is always kept neat.

It goes way beyond that. They do everything from screening your new applicants to evicting the bad ones, and everything in between.

Property Management Fees Pay For: Legal Protection

You may not have thought of this one. In many cases landlord/tenant laws are dicey and there is a lot of misinformation out there. Your management company’s job is also to be experts in these laws, so they can stay out of the courtroom.

Do you have the time or inclination to become an expert in:

  • Rent collection and payment arrangements
  • The eviction process
  • Move in and out inspections and best practices
  • Lease writing and enforcement
  • Security deposits and other fees

Probably not. So your property management fees can pay for themselves right there.

Property Management Fees Pay For: A Buffer Between You and Tenants

First and foremost, you get a professional bad guy and scapegoat. So much of running a building is like being a parent and constantly saying no to things. No, you can’t have another extension on your rent. No, you can’t smoke in your apartment.

You’re faceless to the tenants and don’t even exist. Most tenants will likely assume the property management company owns the building.

This is especially attractive to property owners that live far away (or another town) from their property.

Property Management Fees Pay For: Assurance Rent Gets Paid

Do you have time to chase people down and make them pay their rent? No, of course not. That is nobody’s favorite part of owning a building, but it’s a service included in your Property Management Fees.

Your property management team is in charge of setting and enforcing rent collection practices and ensuring you’re not being taken advantage of.

They will also handle the eviction process when rent goes uncollected. As we mentioned in a previous section, they’re experts in doing it 100% within the law.

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5 Reasons You Need a Property Management Agency

property management agency

A competent and efficient property management agency can make your investment a stress-free and worthwhile venture. A good management company will end up paying for themselves through their work and consistent tenant residencies.

If you have purchased properties for long-term rental purposes or short-term vacation rentals, a management agency can save you money and from a headache. If you want to avoid weekend maintenance calls and issues that consistently arise with real estate investment, then management is the right choice.

Having your business streamlined as you free up your own time will be well worth the cost. Once you find a great agency, you’ll never want to manage rentals on your own again. Here’s why you need property management:

1. Quality Tenant Screening

Evictions are alive and well in the United States of America, unfortunately. An experienced agency can browse through hundreds of applicants and find the ones that seem like a worthy fit for your property.

Agencies are pros at finding red flags in an application and can help prevent tenants capable of causing major issues down the road from occupying your property. Land a reliable tenant through thorough screening, background and credit checks.

It can be a long process to properly screen your desired tenant, let a property management agency do it for you. What’s more? You’ll avoid having to go through this process regularly because agents can get long-term tenants in your properties.

2. Less Tenant Turnover

Perhaps one of the greater appeals of a fantastic agency is that you won’t have to go through the screening process over and over again. A great agency knows how to keep the people renting your property happy. They know how to see a problem and fix it before it becomes an issue for your tenant.

Renters that are satisfied and happy in your property won’t have reason to move and look elsewhere for a place to live. Furthermore, happy tenants are more apt to accept the rent increases you’ll ask for every year.

3. You’ll Get Paid On Time Through a Property Management Agency

A property management agency usually takes their fees from the monthly rent of your tenant, so you’re sure to get your rent on the day it’s due. Consistent rent collection can save you from major grief caused by late payments or bounced checks.

An agency can also enforce policies if the payments aren’t received, which can be a tiresome process to do on your own. Leave it to the agency to deal with the steps in taking care of late rent.

4. Tax Assistance

If you’ve owned property before, you know that taxes can be a beast to handle. Let property management do the work for you. They know which deductions you can claim, and will also organize all of the paperwork necessary for the IRS.

5. Lower Repair Costs

A good agency preserves your property. They know when to hire the right repairmen to perform whatever work is necessary before the problem gets costly to fix. They also have ins for discounts through services they use on a regular basis.

Take Care

Taking care of your property can be much easier if you have some help in doing so. With fewer tenant turnovers, higher quality tenants, and getting your rent on time, hiring an agency is something you’ll never regret.

When you’re ready to maintain your property or find a new one, click here for great agents!

The Importance of Hiring a Professional Pool Service As a Property Manager

A property manager is a professional who is hired to handle the daily operations of a physical asset, typically real estate. Property managers are responsible for the upkeep of family homes and apartment complexes, collecting rent, handling leases, and making sure that they adhere to a maintenance schedule. Property managers are in charge of performing preventative maintenance to keep the property functioning in top condition throughout the year. These responsibilities also include a building’s pool.

In this sort of scenario, property managers are free to hire third-party contractors if they do not have the specialized skills to complete certain repairs. For new property managers who are maintaining their first pool, or for managers who aren’t familiar with the difficult maintenance schedule of a pool, a professional pool service may be of great benefit.

Benefits Of A Professional Pool Service

One of the main advantages of a professional Pool service is the ability to clean and maintain a pool on a timely basis. Cleaning is required during the spring months, right before the pool is opened to the residents of the apartment. During the cooler months, your pool most likely has been inundated with the leaves, garbage, and algae blooms. A professional cleaning service would be able to remove these items in just a couple of hours.

Water quality maintenance. Maintaining a pool is not just ensuring that the water is crystal clear and free of debris – it also needs the right parameters to hinder the formation of bacteria. Instead of continuously taking water samples from the swimming pool to a retailer, a cleaning service will be able to the testing on-site. The company will be able to add additional chemicals and recheck the water, as well as unload and store chemicals in a safe location away from residents.

Maintaining a swimming pool is surprisingly complex. When cleaning a large swimming pool connected to an apartment complex or family home, you will have to put lots of elbow grease into work that is largely uninspiring. Without professional products, you’ll spend a long time working on a swimming pool only to get dirty all over again by the following weekend. Professional pool cleaning services can prolong the life of your pool.

How Regular Pool Service Can Help Property Managers

The main benefit of hiring professional pool cleaning services is their ability to save time. Depending on the size of the pool, it can take several hours a month to thoroughly clean it, with additional hours to upkeep the water balancing chemicals. This is time that can be dedicated to other aspects of property management.

The Pool Service Experts Temecula Advantage

The people over at PoolServiceExpertsTemecula.com offer a weekly cleaning service that not only maintains the water quality of pools and ensures that there aren’t any debris that can impact its filters, but it is an online hub to educate homeowners and property managers to the different maintenance schedules of a private pool. The full-service involves cleaning, repairs, vacuuming, deodorizing pool walls and filters, and checking that the water is at the proper pH levels.