Hello BP! I'm interested in hearing your thoughts on what qualities and skills make a property manager truly stand out. Whether you're an experienced investor or just starting, having a reliable and efficient property manager can make all the difference in the success of your rental properties. Here are a few key traits I've found important, but I'd love to hear your insights and experiences: • - Communication Skills • - Organizational Abilities • - Knowledge of the Local Market. • - Problem-Solving Skills • - Proactive Maintenance • - Financial Management What other qualities do you think are essential for a property manager? Have you had any experiences, good or bad, that highlight the importance of certain traits? Looking forward to your responses!

Great question! As both a property management professional and an investor, I can attest that the qualities you’ve mentioned are spot on. I'd like to add a few more traits that I've found crucial for a property manager to truly stand out: • 1. Integrity and Transparency: Trust is the foundation of any good relationship, especially between a property manager and a property owner. A property manager who is honest and transparent about both the good and the bad situations that arise can help build long-term trust and avoid unpleasant surprises. • 2. Tenant Relations: A property manager with excellent tenant management skills can reduce turnover and increase tenant satisfaction. This includes handling tenant issues with empathy, maintaining open communication, and ensuring that tenants feel valued and respected. • 3. Adaptability and Tech Savviness: The property management industry is rapidly evolving with new technologies and tools. A property manager who stays current with industry trends, leverages property management software, and adapts quickly to changes can offer a competitive edge. • 4. Legal Knowledge: Understanding local, state, and federal laws is essential. A great property manager ensures compliance with all relevant regulations, which helps to mitigate risk for the property owner. • 5. Negotiation Skills: Whether it’s negotiating leases, handling vendor contracts, or resolving disputes, strong negotiation skills can make a significant difference in operational efficiency and cost savings. In my experience, a property manager who excels in these areas not only helps protect your investment but also maximizes its profitability. I’ve encountered managers who were fantastic in most areas but lacked in one or two key traits, and that was enough to impact the performance of the property. Conversely, I’ve seen property managers who excel in all these areas, and the difference they make is night and day. •

#1. Agree, Clear, consistent communication that is transparent and proactive, answer the questions before they ask it. And not just email communication, phone, if they call, answer. They want to speak to someone a lot of the time, a phone call is worth a 1000 words. #2 Repair Management, tracking expenses, following up with outstanding work orders, ensuring work completed with photos by vendors, notifying owners when there is a repair request by the tenant and track the time it takes from work order to completion, track the amount of repairs to a home at end of year so owner can see those expenses and try to get them on service contracts and off home warranties.

I self manage my units so my views are more related to the actual work of property management rather than communicating results to property owners. The most important factor in successful property management is not a personal quality or trait, it's having EFFECTIVE processes in place to support the business. Assuming effective processes are in place. The qualities and traits of an outstanding property managers are: 1) A direct communication style. --comunicating information in a manner that leaves no ambiguity regarding planned or expected actions--seeking (requiring) clear unambiguous answers or responses,--documenting agreements in writing. --Following up on actions and commitments: 2) a service mindset which is demonstrated by providing --a quality tenant experience. --strong financial results for property owners.

We try to tell our staff to treat the owners money like it is your money. Don't waste money if we can help it. It's not a hotel, the houses won't be perfect (unless it's new construction or luxury).

Newbies don't care about any of this. Even if they say they do, their actions speak louder than their words! Many of them mistakenly believe all PMCs are the same, so they usually just go with the cheapest PMC. So, price is all that's important to them.

Communication is the # 1 issue. Owners are ok, not happy lol but ok with paying for items and issues, just want to understand what's going on. let me add, and execution.

As a multifamily investor who rely heavily on PM, and who has been burnt by dubious PM, @Stephanie Michael response above reflect perfect my view of what makes a good PM. Inherent within these five qualities is the good communication skill. To this, I'll also add knowledge of the local rental market.

@Drew Sygit Sure, I'll bite. hah! To onboard? I've seen newbie owners step over dollars to pick up pennies. For sure. To maintain their business after a year or two? Referrals? To be considered a "good property manager" like the topic says? Not so.

What do you think makes a good property manager?

Managing Your Property

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What do you think makes a good property manager?

Nina Penuela

Property Manager · Florence, AL · Member since 2024 · 34 posts · 17 votes

Hello BP!

I'm interested in hearing your thoughts on what qualities and skills make a property manager truly stand out. Whether you're an experienced investor or just starting, having a reliable and efficient property manager can make all the difference in the success of your rental properties.

Here are a few key traits I've found important, but I'd love to hear your insights and experiences:

- Communication Skills
- Organizational Abilities
- Knowledge of the Local Market.
- Problem-Solving Skills
- Proactive Maintenance
- Financial Management

What other qualities do you think are essential for a property manager? Have you had any experiences, good or bad, that highlight the importance of certain traits?

Looking forward to your responses!

3 Reply

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Adam BartomeoBusiness Member

Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes

Almost everyone said communication and although, communication is important it is NOT #1! I am actually pretty surprised at the answers here. It's no wonder so many people get taken advantage of...

1. Integrity - Hands down is the #1 quality. Even if they are not communicating you can be assured that they are doing the right thing, the right way.

2. Execution - Execution is the reason you hire a PM in the first place, you don't hire them because of their communication skills. You hire them to execute with revenues and expenses. If a PM has integrity and is getting the job done, then there is very little to communicate about.

3. Communication - This is the #1 complaint about PMs throughout the US BUT if you really dig into the complaints then you will understand why the PM isn't communicating. The PM's aren't communicating because they aren't doing #1 and #2!

[email protected]239-339-3969

Bartomeo Property Management4.7150 Reviews

Website View Page

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Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
2y
Communication is the # 1 issue. Owners are ok, not happy lol but ok with paying for items and issues, just want to understand what's going on. let me add, and execution.
2 Reply
Nina Penuela
OP
Property Manager · Florence, AL · Member since 2024 · 34 posts · 17 votes
2y
Quote from @Bob S.:

Communication is the # 1 issue. Owners are ok, not happy lol but ok with paying for items and issues, just want to understand what's going

Why do you think communication is the number one issue?
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
2y
Quote from @Nina Penuela:

Quote from @Bob S.:

Communication is the # 1 issue. Owners are ok, not happy lol but ok with paying for items and issues, just want to understand what's going

Why do you think communication is the number one issue?

Because it is LOL, I have taken many surveys, Its always the # 1 issue. let me add, and execution.

0 Reply
Jessica StinnetteBusiness Member
Property Manager · Herndon, VA · Member since 2024 · 20 posts · 10 votes
2y
#1. Agree, Clear, consistent communication that is transparent and proactive, answer the questions before they ask it. And not just email communication, phone, if they call, answer. They want to speak to someone a lot of the time, a phone call is worth a 1000 words.
#2 Repair Management, tracking expenses, following up with outstanding work orders, ensuring work completed with photos by vendors, notifying owners when there is a repair request by the tenant and track the time it takes from work order to completion, track the amount of repairs to a home at end of year so owner can see those expenses and try to get them on service contracts and off home warranties.
[email protected]703-609-2323
Chambers Theory Property Management4.5339 Reviews
Website View Page
3 Reply
Peter TverdovBusiness Member
Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
2y
We try to tell our staff to treat the owners money like it is your money. Don't waste money if we can help it. It's not a hotel, the houses won't be perfect (unless it's new construction or luxury).
[email protected]732-289-3823
3 Reply
Jill F.
Investor · Akron, OH · Member since 2016 · 2k+ posts · 4k+ votes
2y
I self manage my units so my views are more related to the actual work of property management rather than communicating results to property owners.
The most important factor in successful property management is not a personal quality or trait, it's having EFFECTIVE processes in place to support the business. Assuming effective processes are in place. The qualities and traits of an outstanding property managers are:
1) A direct communication style.
--comunicating information in a manner that leaves no ambiguity regarding planned or expected actions
--seeking (requiring) clear unambiguous answers or responses,
--documenting agreements in writing.
--Following up on actions and commitments:
2) a service mindset which is demonstrated by providing
--a quality tenant experience.
--strong financial results for property owners.
3 Reply
Michael McVetyBusiness Member
Fort Myers, FL · Member since 2024 · 45 posts · 20 votes
2y
Hi Nina.
I would also add, in addition to what you mentioned, a few others.
Property Management knowledge is one which is different than knowledge of the local market. It involves knowing what is happening in the overall industry which would help our clients.
Related to this is the constant knowledge of local, state and national laws. This helps avoid our clients/real estate investors a lot of legal issues. I do use the term "avoid" but it is quite difficult for anyone to avoid nuisance lawsuits today.
[email protected]239-939-1233
Red Fortress Property Management Co.4.2329 Reviews
Website View Page
1 Reply
Colleen F.Pro Member
Investor · Narragansett, RI · Member since 2013 · 8k+ posts · 4k+ votes
2y
@Nina Penuela communication is big because that helps with expectations both ways. I would also say everyone who works for the PM or in the office of a PM represents you so if they aren't competent that reflects on you. So a PM can be good but if the person answering the phone isn't thats not great. So good hiring/firing ability for office staff and contractors or people management skills if you want to call it that.
1 Reply
Stephanie Michael
Fredericksburg, VA · Member since 2024 · 6 posts · 4 votes
2y
Great question! As both a property management professional and an investor, I can attest that the qualities you’ve mentioned are spot on. I'd like to add a few more traits that I've found crucial for a property manager to truly stand out:
1. 1. Integrity and Transparency: Trust is the foundation of any good relationship, especially between a property manager and a property owner. A property manager who is honest and transparent about both the good and the bad situations that arise can help build long-term trust and avoid unpleasant surprises.
2. 2. Tenant Relations: A property manager with excellent tenant management skills can reduce turnover and increase tenant satisfaction. This includes handling tenant issues with empathy, maintaining open communication, and ensuring that tenants feel valued and respected.
3. 3. Adaptability and Tech Savviness: The property management industry is rapidly evolving with new technologies and tools. A property manager who stays current with industry trends, leverages property management software, and adapts quickly to changes can offer a competitive edge.
4. 4. Legal Knowledge: Understanding local, state, and federal laws is essential. A great property manager ensures compliance with all relevant regulations, which helps to mitigate risk for the property owner.
5. 5. Negotiation Skills: Whether it’s negotiating leases, handling vendor contracts, or resolving disputes, strong negotiation skills can make a significant difference in operational efficiency and cost savings.
In my experience, a property manager who excels in these areas not only helps protect your investment but also maximizes its profitability. I’ve encountered managers who were fantastic in most areas but lacked in one or two key traits, and that was enough to impact the performance of the property. Conversely, I’ve seen property managers who excel in all these areas, and the difference they make is night and day.
3 Reply
Adam BartomeoBusiness Member
Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
2y
Almost everyone said communication and although, communication is important it is NOT #1! I am actually pretty surprised at the answers here. It's no wonder so many people get taken advantage of...
1. Integrity - Hands down is the #1 quality. Even if they are not communicating you can be assured that they are doing the right thing, the right way.
2. Execution - Execution is the reason you hire a PM in the first place, you don't hire them because of their communication skills. You hire them to execute with revenues and expenses. If a PM has integrity and is getting the job done, then there is very little to communicate about.
3. Communication - This is the #1 complaint about PMs throughout the US BUT if you really dig into the complaints then you will understand why the PM isn't communicating. The PM's aren't communicating because they aren't doing #1 and #2!
[email protected]239-339-3969
Bartomeo Property Management4.7150 Reviews
Website View Page
4 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
2y
Communication is the # 1 issue, then of course solving the issue. Owners do not have an issue paying for/ dealing with an issue IF they fully understand said issue
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
2y
Quote from @Michael McVety:

Hi Nina.
I would also add, in addition to what you mentioned, a few others.
Property Management knowledge is one which is different than knowledge of the local market. It involves knowing what is happening in the overall industry which would help our clients.
Related to this is the constant knowledge of local, state and national laws. This helps avoid our clients/real estate investors a lot of legal issues. I do use the term "avoid" but it is quite difficult for anyone to avoid nuisance lawsuits today.

Hey Mike, do you know Brad C? He is one of the bigger players in your area,
0 Reply
Michael McVetyBusiness Member
Fort Myers, FL · Member since 2024 · 45 posts · 20 votes
2y
Hi Bob.
No, I do not think so. But if I could help him in any way, I would. I am better known in the property management industry than real estate investing.
I am not sure how I could connect with him. Is he with a company or by himself? Thank you for letting me know.
[email protected]239-939-1233
Red Fortress Property Management Co.4.2329 Reviews
Website View Page
0 Reply
Bob S.
Real Estate Consultant · Cleveland · Member since 2020 · 6k+ posts · 3k+ votes
2y
Quote from @Michael McVety:

Hi Bob.
No, I do not think so. But if I could help him in any way, I would. I am better known in the property management industry than real estate investing.
I am not sure how I could connect with him. Is he with a company or by himself? Thank you for letting me know.

Hey, I was just making conversation. Brad is one of the biggest players there, broker, investor, restaurateur.
0 Reply
Alyssa Wright
Real Estate Agent · Pittsburgh, PA · Member since 2024 · 86 posts · 51 votes
2y
Communication and sympathy are huge in PM! Not only do you need to be able to clearly communicate with both tenants and owner but you also need to be able to see where they're coming from in certain situations to be able to get anywhere with coming to a solution.
0 Reply
Sean O'KeefePro Member
CPA | Accepting new clients | 50 States · Member since 2022 · 1k+ posts · 870 votes
2y
@Nina Penuela we here so much about this from our clients. Thanks for sharing this!
[email protected]628-241-0888
0 Reply
Ryan Dunn
Investor · Gilbert, AZ · Member since 2016 · 42 posts · 25 votes
2y
Communication is key. They need to talk people into paying rent( haha) and then paying on time. But also working with them if there is a job loss or a roommate moves out. Or during the world shut down on how and when rent will be coming in.
0 Reply
Kevin Epp
Property Manager · Tacoma, WA · Member since 2024 · 60 posts · 39 votes
2y
Quote from @Adam Bartomeo:

Almost everyone said communication and although, communication is important it is NOT #1! I am actually pretty surprised at the answers here. It's no wonder so many people get taken advantage of...
1. Integrity - Hands down is the #1 quality. Even if they are not communicating you can be assured that they are doing the right thing, the right way.
2. Execution - Execution is the reason you hire a PM in the first place, you don't hire them because of their communication skills. You hire them to execute with revenues and expenses. If a PM has integrity and is getting the job done, then there is very little to communicate about.
3. Communication - This is the #1 complaint about PMs throughout the US BUT if you really dig into the complaints then you will understand why the PM isn't communicating. The PM's aren't communicating because they aren't doing #1 and #2!

Adam is spot on here. Although communication makes an owner feel good, especially when an owner wants answers immediately, it does little for their bottom line if you don't have the other two (Integrity and Execution).

I think all the PMs here agree, however, that there is no quicker way to piss off an owner than leave them hanging when they perceive* an emergency. Conversely, you can quickly build rapport and trust by communicating back with them during such an event. Again, just makes people feel good when they get instant answers...
1 Reply
Sam YinPro Member
Los Angeles, CA · Member since 2021 · 583 posts · 738 votes
2y
@Nina Penuela
I feel courage, humility, and adaptability are some key characteristics.
One must have the courage to act, to engage, and to challenge. At the same time, one must have the humility to know they can make mistakes and learn from others. Above all, you have to be adaptive to the community, changes in policies, AND owner expectations.
Just my 0.02
0 Reply
Joseph Guzzardi Jr
Rental Property Investor · Member since 2019 · 411 posts · 148 votes
2y
@Nina Penuela Communication & response time based on tenant/property issues.
1 Reply
Zachary Russell
Specialist · Member since 2021 · 26 posts · 8 votes
2y
@Nina Penuela
1)Communication
2) systems and procedures
3) expense tracking
1 Reply
Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
2y
Newbies don't care about any of this.
Even if they say they do, their actions speak louder than their words!
Many of them mistakenly believe all PMCs are the same, so they usually just go with the cheapest PMC.
So, price is all that's important to them.
[email protected]248-209-6824
Logical Property Management4.9458 Reviews
Website View Page
3 Reply
Kevin Epp
Property Manager · Tacoma, WA · Member since 2024 · 60 posts · 39 votes
2y
Quote from @Drew Sygit:

Newbies don't care about any of this.
Even if they say they do, their actions speak louder than their words!
Many of them mistakenly believe all PMCs are the same, so they usually just go with the cheapest PMC.
So, price is all that's important to them.

@Drew Sygit Sure, I'll bite. hah!
To onboard? I've seen newbie owners step over dollars to pick up pennies. For sure.
To maintain their business after a year or two? Referrals? To be considered a "good property manager" like the topic says? Not so.

1 Reply
Melanie ThomasBusiness Member
Real Estate Broker · San Antonio · Member since 2022 · 1k+ posts · 489 votes
2y
Transparency is key!
[email protected]
RentWerx Property Management4.73300 Reviews
Website View Page
1 Reply
Timothy Harstead
Chicago, IL · Member since 2024 · 17 posts · 9 votes
2y
Communication is the biggest issue, and clients leave one company to come to ours; the next one is a team. If you are hiring a one-man shop, the odds of that one-man being able to put the effort needed into all the areas needed across 50 or 100 units is very rare, much better service with a team that can take 2am calls and deal with villages etc.
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