There are now over 248,789 residential property manager businesses in the US. The industry has grown by 5% since 2022. If you're interested in hiring qualified property managers, you need to know which qualities to look for.
Here are the four top qualities that indicate you've found effective property managers. Finding professionals with these qualities will ensure they have the expertise you need.
Narrow down your options today.
1. Experience
There are 23,500 property managers within Florida alone. However, the industry keeps growing. Not every property manager you find will have years of hands-on management experience.
Their experience can speak to their ability to problem-solve. They'll leverage their previous experience to make informed decisions.
Determine how many properties they managed in the past. Ask how they've solved specific problems. For example, how do they fill vacancies or market properties?
The most effective property managers will have efficient processes in place. However, they'll also adapt these processes based on your unique needs. Their problem-solving skills can help you avoid stressful situations.
Try to find a property management company that also has an investor mindset. They'll understand how to care for your property as if it was theirs. They'll consider the big picture to make business decisions on your behalf.
2. Reliability
You shouldn't wait for your property manager to "get back to you." Look for reliable property managers who are quick to respond. Their quick response times will show you and your tenants they care.
They'll need to respond quickly to problems, complaints, and inquiries. Read online reviews to determine if they're responsive and reliable.
3. Patience
Even a company that offers the best property management services can't function efficiently without patience. Effective property managers are patient with investors and residents. They should also use active listening skills to determine fair, efficient solutions.
For example, they'll need to remain patient with:
- Unruly tenants
- Investors with unrealistic expectations
- Contractors who are behind schedule
Their patience indicates they have strong customer service skills. If they can't handle complaints and stressful situations, keep searching.
4. Organization
Managing property involves juggling multiple jobs at once. The best property manager will have strong organizational and time-management skills. They'll need to:
- Screen tenants
- Call contractors
- Renew leases
- Renovate properties
- Handle accounting
Ask the property manager how they remain organized on busy days. Determine if they use technology to remain organized.
The property management industry is continuously evolving. New hardware and software applications allow property managers to work more efficiently. Determine what platforms they use and how they benefit clients.
For example, they might create virtual tours to streamline showings. The right platform can simplify rent collection and charge late fees.
Hire the Best Property Managers in Jacksonville
Managing your investment properties alone can steal time from your busy schedule. Instead, look for these qualities when researching property managers. The most effective property managers will save you time, money, and stress.
Want to simplify your search? Our Jacksonville property management company is here to help.
Contact the team at Roundtable Property Management today to discuss how we can help.
