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These are 5 Qualities that all Great Property Managers have (#5 is Critical)

Few things are as important to people than their homes. As a property manager, you are being trusted with some of your client’s largest and most valuable assets. In order to become a great property manager, here are 5 qualities to work on, these will make you more efficient and effective.

1. Set milestones with goals

Goals are different than milestones, but people tend to use them interchangeably.  Milestones keep you on the path to success without beating you down when you don’t hit the Goal in the preferred time frame.  Leaning from the great Property Managers has taught that milestones are key in this industry. Let’s say you set a goal to serve 100 more owners in the current year.  That’s a challenging goal, but it’s not impossible. What the goal doesn’t have are the paths needed to achieve that goal. Take the same goal and turn it into milestones. 

  • Step 1 reach out to your circle and ask for referrals
  • Step 2 gets involved with your local associations and chapters
  • Step 3 … etc.

Milestones guide you to your goal so stay focused on the journey.  The destination will come. 

2. Be yourself

Although we have rules and laws we follow this is a relational business.  Stay authentic. If you’re always in strict work mode, you lose out on the opportunity to create lasting relationships and bonds.  More than likely by not being yourself you will not be as happy as you could be.  

You don’t have to pretend you’re outgoing when you’re reserved. Find strengths in who you are and be your natural self.  

3. Have gratitude

Most of us are not reinventing the wheel.  If you give credit to those who teach you and to those who have paved the way, those same people will be your foundation moving forward.  One of the worst things a person can do is take credit for someone else’s work. That shows a lack of integrity and this is a very small world for us Property Managers.  Be sure to recognize and show gratitude to your mentors and industry leaders. It will be you someday.   

4. Be accountable

Going along with having gratitude, this paragraph was directly taken from a blog written by Yardi.  I couldn’t agree more. “When something goes wrong, good property managers hold themselves accountable. They don’t blame their staff or the computer. Instead, they look at what they need to do to solve the problem. The solution could be to offer more training. Every good leader is willing to hold themselves to the same standards they hold others.”

5. Consistency is Vital

The great property managers and the great leaders are all consistent.  The way they treat their staff is consistent. The standard operating procedures are carried out the same for every property.   Items as simple as taking photos to tenant walkthroughs are done is the same order and the same way with everyone. Consistency is what sets apart those who grow and succeed from those who are working in circles trying to figure out the same problem over and over.

Be consistent.