Five tips to excel as a Property Manager

A Property Manager is responsible for maintaining a profitable rental roll. While that may sound relatively simple on paper, there is a lot that goes on behind the scenes to match tenants with the right home. From showing open houses and managing rental applications to maintenance requests, lease renewals and routine inspections, no two days are ever the same. And with the ever-changing real estate market, skyrocketing house prices and looming rental shortages in popular suburbs, developing the right skill set to excel is key. 

To help you navigate the real estate market and stand out in this competitive but highly rewarding industry, here are our five tips to excel as a Property Manager. 

Communicate, communicate, communicate! 

It probably comes as no surprise that communication is a highly sought after skill among property managers. On a daily basis, you will be communicating with tenants, landlords and tradespeople to name a few. Clear, concise communication can save you time and keep your clients informed and, most importantly, happy! During times of crisis, this is especially important, as you could be required to process a number of maintenance requests and need to prioritise these according to the urgency of each situation. 

Make organisation a priority

If you’re not an Excel person, it might be time to learn. As a Property Manager, you will be responsible for a lengthy rental roll and you’ll need to be savvy at spreadsheets or well-versed at project management tools to stay on top of your tasks. According to Real Estate Dynamic, the average Property Manager looks after 100 properties. That means more than 100 people! Keep in mind that this number could vary depending on where you are working, the technology available and support staff but regardless of the size of your rental roll, organisation is essential to prioritise the needs of your clients and excel in your new role. 

Master Multi-tasking

You’ve probably caught on by now that Property Management is fast-paced. To stay ahead of the game, and on top of your workload especially during busy periods multi-tasking can come in very useful. If you’re on the road doing open houses or routine inspections, consider using this time to catch up on client calls, or before scheduling open houses for the week, pre-plan your route and schedule houses in close proximity to reduce driving time. Some extra pre-planning and multi-tasking can go a long way to saving you time and creating a smooth experience for your clients. 

Don’t stop learning 

Whether you’re new to the real estate industry or are looking to upskill or reskill into property management, the industry has changed a lot – most notably in the last few years. According to the Domain 2021 Rental Report, rental prices in Brisbane, Perth and Canberra increased by over 10% YOY in 2021 alone. To achieve the best outcome for your clients, it’s important to stay on top of trends, educate yourself on the neighbourhoods where you’re showing houses and support potential tenants as they navigate this highly competitive environment. 

Go the extra mile

Finding a home to rent can be extremely stressful, especially in today’s competitive market. To help tenants get over the line faster, where possible send them the rental application prior to viewing the house so they can get the application process started straight away. If you can’t send it, consider bringing along a printed copy for the applicants to fill out when they get home. 

If you are ready to take the next step towards reaching your full potential as a property manager, enrol with us here at Global Real Estate Training. We offer affordable, high-impact online real estate training courses that can help you to kick-start or improve your real estate career anywhere in Australia. For more information, contact us today.

 

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