It takes several years to build a reputation, network and to grow your real estate business. Property management provides an additional revenue stream for realtors. However, property management is a local business and you have to build your own brand. There are several avenues to market your business – you can read about marketing your property management business here.
Avenues to market your property management business
In order to be a successful property manager, you have to do your duties well as discussed here. These are table stakes.
Duties of a property manager
Without doing these duties well, you won’t have a successful property management business for long. Now, if everyone is doing this, how do you stand out from the crowd and differentiate yourself as the trustworthy property manager that landlords and tenants want to work with? Here are five tips to help you to differentiate yourself as a property manager:
Be clear about articulating what you mean and say. Be transparent and honest in your communications. Use written communications as much as possible. With HomeKasa, you can track all your communications with both tenants and landlords in one place from anywhere. This makes you more productive and you can deal with things while you are on the go. As a busy property manager, chances are you’ll be on the go often.
Be organized and file things in the right place. Keep separate folders for each rental unit and track all the paperwork for them. Alternatively, HomeKasa helps you to store all your information in one place. The communications are electronic and automatically stored, making it easy for you to stay organized. Move-in checklist is attached to each rental home to make it easy for you to find.
We also recommend you keep a checklist of all the things you need to do, by the day, week and month. Set due dates and reminders and mark them complete when you are done. This helps you to stay organized and focused. You don’t want things to fall in the gap because you are too busy. This also helps you to not procrastinate.
As a property manager, chances are that very few tenants will call to praise you. They are usually calling you with complaints. Maintaining your calm, acting politely and addressing the issue on hand are key attributes to how both your tenants and landlords view you. Your landlord wants the tenants to have a positive experience with both the renal home and you, who is acting as his/her representative.
When managing multiple properties and tenants, identify which issues are urgent and which ones are important. Urgent issues need to be addressed immediately. Important issues if not addressed in a timely manner can become urgent. By doing regular property inspection, you can reduce the chances of being pulled into urgent issues. Life still happens. Learn to prioritize which issues to address and when.
If you want to grow your business and manage more properties, technology is your best friend. Even if you are managing just one property, it can make your life easy and you can be more productive. HomeKasa’s cloud-based property management software makes it a breeze to screen tenants, collect rents, pay HOA, renew insurance and communicate with your tenants and landlords. You can see how profitable each unit is and where your expenses are. This helps you to stay ahead of the competition and run property management like a proper business.