Top Tips For Property Managers: 2022 Edition

As a property manager, you play a vital role in keeping your tenants happy and your property in good condition. Here are some tips for property managers to help you succeed:

1. When it comes to marketing your properties, you need to make sure that you are using the right channels. Traditional methods such as print ads and flyers are no longer as effective as they once were. Instead, focus your efforts on online marketing. Create a strong presence on social media and invest in search engine optimization (SEO) for your website. This will help you reach a wider audience and generate more leads.
2. It is also important to remember that first impressions matter. When potential tenants come to tour your property, they should be impressed from the moment they walk in the door. Keep the common areas clean and well-maintained at all times. If you have any vacant units, make sure that they are staged so that potential tenants can see themselves living there.
3. When it comes to dealing with tenants, it is important to be fair but firm. You need to set clear expectations from the beginning and enforce the rules consistently. If you have a problem tenant, don’t be afraid to take action. It is better to deal with the issue head-on rather than let it drag on.
4. Get to know your tenants. Take the time to get to know your tenants so that you can better understand their needs and concerns. This will also help you build a good relationship with them.
5. Be responsive to tenant concerns. Tenants will be more likely to be happy and satisfied if you are responsive to their concerns. This includes being available when they need you and addressing their concerns in a timely manner.
6. Keep your property well-maintained. One of the best ways to keep your tenants happy is to make sure your property is well-maintained. This includes regularly cleaning and inspecting the property, as well as making any necessary repairs.
7. Be proactive about problem areas. If you know of any problem areas on your property, be proactive about addressing them. This will show tenants that you care about their safety and comfort, and it will help prevent larger issues from developing.
8. Develop a good working relationship with your staff. Your staff can play a big role in how successful you are as a property manager. Make sure you have a good working relationship with them so that they can help you take care of your tenants and your property.
9. One of the most important things to remember when it comes to property management is to know your limits. Taking on more than you can handle can be a recipe for disaster, leading to angry tenants, property damage, and a whole host of other problems. Instead, focus on taking on only as much as you can reasonably manage. This will help to ensure that your properties are well-maintained and that your tenants are happy. It may mean turning down some business, but in the long run, it will be worth it.
10. As a property manager, it is important to keep up to date on the latest laws and regulations affecting your industry. By staying informed, you can help ensure that your property is in compliance with all applicable rules and regulations, as well as identify problems before they arise. You can read industry-specific magazines and newsletters, attend seminars and conferences, or simply stay up to date with the latest news online. Whichever method you choose, make sure that you take the time to educate yourself on current laws and regulations affecting property management.
11. As a property manager, it is important to have an emergency fund to cover unexpected costs. This can help you avoid passing on the cost to your tenants or having to dip into your own savings. Your emergency fund should be easily accessible and liquid, so you can quickly tap into it if needed. A good rule of thumb is to set aside three to six months’ worth of living expenses. This will give you a cushion to cover any unplanned costs, such as repairs or legal fees. Having an emergency fund in place will help you weather any storms that come your way as a property manager.

By following these tips, you can be a successful property manager and keep your tenants happy.

Do you have any other tips that have helped you in your role as a property manager? Share them with us in the comments below! We would love to hear from you. And remember, if you ever need assistance with any background screening services, our team at FirstPoint Background Screening Resources is always here to help! Give us a call or send us an email today. We look forward to hearing from you soon!