To be a good property manager, you need to be experienced, accessible, and aware of what will help your owners and investors earn more money on their rental properties. You also have to understand all the landlord and tenant laws, stay on top of market and industry trends, and know how to manage your time well enough that you can juggle putting out immediate fires with helping owners plan for the long term. Today, we’re taking a look at a few specific things that you want to find in a Chattanooga property manager.
Experience and Expertise
Experience is a requirement in property management, but you want to consider more than just the number of years a property manager has been in business. You want to be sure the experience matches your needs. For example, if you have a single family home, 20 years in apartment building management isn’t going to help you much. A good property manager will have developed an expertise in specific types of properties and in your local market.
Knowledge and Education
A good property manager will establish and maintain processes and systems that keep your rental home running smoothly. You should expect a property manager to protect the condition of your asset, protect you from liability, place highly qualified tenants, and enforce the terms of the lease. The best property managers will also pursue continued education through organizations such as the National Association of Residential Property Managers (NARPM). Laws and best practices are changing and being updated all the time, and you want a property manager who is willing to keep up.
Communication and Responsiveness
Property managers must be available to their tenants and owners. Communication is critical, and a good manager will make themselves available by phone, text, email, and in person. Many property management companies utilize technology that allow tenants to pay rent and make maintenance requests online. Owners also have the opportunity to view statements, access invoices, and review inspection reports and lease documents. Excellent managers will return phone calls and emails in a timely manner and ensure that they can be reached at any time, in case there’s an emergency at a property.
There are many ways to be a good property manager, and establishing trust with owners, investors, and tenants is an important part of the job. If you would like to talk further about what to look for in a property manager or how to be the best one you can be, please contact us at Chattanooga Property Management.