How to not micromanage my property manager

[Mordy Chaimovitz]

I just hired my 1st PM in chicego. He comes with excellent references and I am very excited to have him on board. 

we need to get some work done in order to get my properties rent ready and he is managing the project for me. 

of course I am confident he will get it done quickly and properly, yet I also want to be in the loop as far as progress. 

How often can I be expecting/asking for updates or progress reports without being an annoying, micromaneging owner that he doesnt want to deal with?

(I would love to hear from you property managers out there, or anyone else that can share some wisdom on this topic)

Thanks!

[Sergey A. Petrov]

Step 1 - set expectations. As in, the project should be delivered on an X date and cost Y. I’ll let you know if we start deviating beyond a reasonable level of contingencies. The end. That is a good manager. And those are the relationships I have whether it is a property manager, a contractor, an attorney, or anyone else

Step 2 - once the above is agreed upon and you are ok with it, don’t bug for updates and whatever else. 

If you are not ok with Step 1, want daily updates, want to participate in all construction meetings, ask for copies of paid invoices once a week, go do random drive by’s and ask why a porter potty is not where you think it should be, or why there is a loose nail in the driveway that was left behind by a contractor you are not trusting your manager and micro managing. I get that building relationships takes time but one needs to be given a chance to earn the trust before one starts double checking to make sure their business partner is doing what they are supposed to be doing