At its core, property management is a business of people. It’s more than collecting rent and doing maintenance. Good property management is built on trust and care for properties and the people who own or live in them. You truly can’t be successful in your client or tenant interactions without being a good communicator and leader.
Regardless of whether you have real estate experience or not, if you have good people skills, you might want to consider a career in property management. By networking and building strong relationships with owners and renters, you can build a thriving property management empire filled with happy clients. Consider all the ways your people skills can help you succeed in a property management franchise system.
Network with potential clients
Networking with realtors and property owners is one of the most important aspects of owning a property management business. In order to make money, you’ll need to meet and sign contracts with investors and property owners in your area. Good people skills are essential for building these initial relationships.
The job isn’t done once you’ve signed a contract, either. Property owners expect effective communication, active listening and a professional demeanor from their property managers. With good people skills, you can more easily establish trust, build rapport and create strong long-term relationships with them. This high level of service is more likely to land you beneficial deals in the future, like additional property investments to manage or referrals to other owners.
Source high-quality tenants
Once a property is under your management, you’ll not only need to work with the owner but also current and future tenants. Good people skills are needed to market and promote units. Property owners must have the ability to connect with potential tenants, showcase the best features of their properties and answer any questions confidently.
Tenants want to know that their manager will be a good communicator and consider their needs through the duration of their lease. Personable property managers can make a property seem more attractive to interested renters. This can help you attract and retain high-quality tenants, keep properties leased longer and maximize profits.
Navigate tenant needs and conflicts
Challenges are an inevitable part of property management. Tenants and property owners alike are bound to have needs and concerns you’ll need to address. If you have good people skills, you’ll be better equipped to listen, understand and promptly address those concerns without them escalating further.
Empathy and coordination are two key skills here. Some conflicts might require property managers to interact with numerous parties, including the owner, tenant, contractor and other stakeholders. You’ll need to communicate effectively with all these parties and ensure each one feels understood. Being a good communicator will help you mediate disputes, find common ground, negotiate mutually beneficial solutions and resolve conflicts to everyone’s satisfaction. Over time, solving these problems can build rapport with your clients and tenants, often resulting in long-term contracts and leases.
Lead your management team effectively
Owners and tenants aren’t the only people you’ll communicate with in your day-to-day role as a property manager. As your business grows, it’s likely you’ll hire a team of employees to assist you in your management tasks. You’ll need good people skills in order to lead this team effectively.
A property manager with excellent people skills can motivate team members, identify their strengths and weaknesses and delegate responsibilities efficiently. In doing so, you’ll build a positive and collaborative work environment that boosts productivity and enhances team morale.
Put your people skills to good use with Keyrenter
Property management goes far beyond marketing, leasing and maintaining rental properties. You have to be able to build connections and communicate with people in order to truly be successful. By leveraging great people skills, you can build a positive and collaborative work environment, increase tenant satisfaction and maximize profit for your property management business.
Keyrenter Property Management is a franchise business built around human connection. We’re looking for ambitious entrepreneurs with a passion for people, technology and real estate to help expand our services across the country. Contact us today to learn more about our franchise business opportunity.