How a Property Manager Should Manage Your Assets: Salem Property Management Advice
Mendell Gosnell - Monday, February 16, 2015
Our blog topic today is how a professional property manager should manage your asset. A rental property is a major investment, so your manager should be committed to doing the best job for you and your property.
Rule Number 1 is to listen to the property owner and their goals and objectives. A good property manager needs to offer advice and give professional feedback. The goal is to take care of people and the property.
There must be an ongoing commitment to continuing education. Staying current in the field and up to date on all the changing laws and requirements is critical. This will help you avoid unnecessary liabilities. You want to seek maximum revenue while minimizing expenses.
Positioning the property for long term growth according to the owner’s stated goals is also essential. A property manager can do this by conducting frequent inspections that reveal how the property is being maintained and whether any maintenance is required. These inspections are a must.
It’s important to be detail oriented. Professionals manage your rental and your tenants systematically. There is a lot of follow up and follow through. Customer service becomes a priority, and you benefit from that by attracting and keeping long term tenants.
To manage your asset, a property manager needs to have a strategic and actionable action plan. There needs to be a big picture view with an eye on the small issues. Expect top down and bottom up feedback with constant dialogue. That’s how a professional property manager should take care of your property.