Property Management Tips for Landowners and Property Managers
by: Jeff Klemin | Total views: 6 | Word Count: 535 | View PDF | Print View
To be an effective property manager, one has to be a thorough and consistent multi-tasker. I was able to observe how one newly hired senior vice president in the business I worked for plunged head-on into this all-important task. The company is one of the most reputable in Southeast Asia as far as constructing malls and commercial buildings was concerned. There were new projects in the works, and there was a newly constructed 10-floor building just recently occupied by top multinational call-center companies. The new executive was thrust into countless board meetings, legal consultations and endless coordination with other property managers to address building management issues and client concerns ranging from lease conditions to parking issues.
The tools of the trade, apart from keen business acumen and ability to withstand pressure, including all modern technologies available at one’s disposal – cellular phones, facsimile machines, email – all these are crucial because the property manager needs to be always on top of situations, always available in case any problems arise, and constantly informed of information that clients and superiors need to analyze. Managers can benefit from a fully integrated web-based marketing and rental tech tools. However, more than these modern tools (which contribute to productivity), a competent property manager must have good organizational skills (including efficient control of expenses), must be able to make good decisions quickly, efficiently take the lead in making a team function, and ensure that customers who bring in revenues get what they deserve and remain happy.
Tips from other seasoned property management gurus include not just amassing knowledge and insights about construction and financials, but more importantly, having a sense of organization and open communication with both clients and superiors, and undertaking follow-through in tasks and requirements to address issues and problems as they arise.
Some tips for commercial property owners leasing space to tenants include not concealing any possible environmental hazards from the tenants. Lead, mold, and other indoor risks may jeopardize health of building tenants in the long run, and lead to lawsuits, so it is better to have all things in order right from the beginning. A building owner must also insure his property in case unforeseen destruction to property happens or natural disaster strikes.
Aside from hiring a qualified property manager, most firms avail of the services of a property management firm. In selecting one, the important considerations must include track record or experience and credibility. Mismanagement is the last thing you want to happen. Investment on a property management firm will have huge payoffs if you choose a company that is adept, dedicated, and thoroughly professional enough to constantly furnish you with necessary information on issues ranging from propery repairs and maintenance, to ergonomics, attracting and retaining tenants, and related matters.
About the Author
Jeff Klemin markets websites and is a New Jersey search engine optimization consultant in Utah. His client, Renting Authority, provides tips and resources for landlords and property owners including free rental applications and other property managment information. In addition to free rental agreements, the RentingAuthority.com provides other landlord services such as tenant background checks, rental lease agreements, and other tips.
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