Powered by MOMENTUM MEDIA
realestatebusiness logo

Breaking news and updates daily. Subscribe to our Newsletter!

Home of the REB Top 100 Agents
Breaking news and updates daily. Subscribe to our newsletter

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

10 top qualities of a high-performing property manager

By Staff Reporter
30 July 2019 | 1 minute read
LJ hooker reb 1

Property management is a juggling act, and those who can get it right will leap ahead of the competition in performance and results.

LJ Hooker compiled a list of the top qualities investors are looking for, and should expect to find, in a high-performing property manager. These are: 

1. Experience

Advertisement
Advertisement

Experience makes for one of the best qualities a good property manager can have. Experience in both the form of a portfolio and past client references serves as tangible proof that the property manager is successful in their job.

2. Local market knowledge

Having strong local market knowledge is another important quality. Market knowledge helps the property manager understand the value and potential rent of the property. Local knowledge is also paramount because they will then be well versed in particular regulations enforced by the local council.

3. An investor mindset

A manager who has an investment mindset is something many don’t think of, but can be of great benefit to an owner. When property managers are able to think with this mindset, they can see and understand where changes need to be made in order to charge higher rent. Property managers who think like investors are invaluable when it comes to client liaison and being proactive at making recommendations to the owner.

4. Good communication and organisational skills

Property managers are expected to deal with landlords, tenants and contractors everyday.

In order for things to run smoothly, they should be highly organised and expert communicators. Good communication allows for property managers to manage and reduce disputes, resolve property-related issues promptly and liaise with the property owner on required items in a timely manner.

5. Focus on protecting both landlords and renters

Having a strong understanding of the relevant state laws results in a property manager being highly focused on ensuring the legal protection of both landlords and tenants. This kind of understanding and focus is a top quality in a good performance manager, as it shows a willingness to look out for and limit potential legal issues.

6. Committed to further study

And as a follow-on from the previous quality, the property manager should always be reviewing and staying on top of any legislative changes to property investment laws, government changes or other external influences that may impact an investment property or its owner.

This is a sign of a high-performing property manager as it highlights their capability of providing tenants and landlords with the right information.

7. Patience

When working in a profession reliant on other people, things can be stressful. Tenants, contractors and landlords might have issues or unreasonable expectations, so a property manager who has the ability to be patient and talk through roadblocks and issues is a wonderful asset to have.

8. Assertiveness

Another quality of a high-performing property manager is assertiveness. Instead of letting missed payments go by without following up, being on the ball and asking for what is owed is the sign of a high-performing property manager who knows where the priorities of the owner lie.

9. Ability to manage problems

A property manager’s ability to think outside the box and manage problems is a winning quality. Things can always go wrong — tenants go missing in action or tradespeople don’t arrive. Instead of burdening someone else, a property manager who takes control and problem-solves is a great asset.

10. Attention to detail

In order to make money with an investment property, every cent that comes and goes needs to be accurately documented. A property manager who is committed to organising all relevant documents can have a huge impact on the success of an investment. This is because the accuracy of documents can help ensure you are still paid if a tenant doesn’t pay the rent, which can happen as a result of many unforeseeable reasons such as sickness, loss of a job or a relationship breakdown.

This email address is being protected from spambots. You need JavaScript enabled to view it.

10 top qualities of a high-performing property manager
LJ hooker reb 1
lawyersweekly logo

Tags:

Rankings
rankings
JUST RELEASED
May 09, 2022

REB Top 50 Women in Real Estate 2022

REB is thrilled to present the Top 50 Women in Real Estate 2022 ranking, which sets t ... LEARN MORE

rankings
JUST RELEASED
May 04, 2022

REB Top 100 Agents 2022

Now in its second decade, the REB Top 100 Agents 2022 rankings are the most revered s ... LEARN MORE

rankings
JUST RELEASED
May 02, 2022

REB Top 50 Agents NSW 2022

Even a pandemic has not put the brakes on the unstoppable property market in NSW, whi ... LEARN MORE

rankings
JUST RELEASED
April 27, 2022

REB Top 50 Agents VIC 2022

The COVID-19 crisis has not deterred the property market in Victoria, which has been ... LEARN MORE

rankings
JUST RELEASED
April 25, 2022

REB Top 50 Agents QLD 2022

As the property market continues to roar in Brisbane and Queensland, the REB Top 50 A ... LEARN MORE

Coming up

rankings rankings

 

Subscribe to our RPM
mailing list

 

Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

Ensure you never miss an issue of the Real Estate Business Bulletin.
Enter your email to receive the latest real estate advice and tools to help you sell.