With property management becoming a very popular means for making money, there has been a huge increase in the demand for property management roles that can help you maintain your properties and manage your tenants. However, who you hire to be your manager is a very important decision to make especially if you plan on taking a step back in terms of your own involvement. The great thing about owning property is that after a while you are able to sit back and delegate responsibility to another person, ensuring you hire someone trustworthy and capable of running things to the best of their ability is paramount to your success and profit.
Interview / Application Process
My advice would be to start with an initial interview where you can screen potential candidates and have some face to face interaction where you can gauge whether or not they would be a good fit for a property management role. Things to look out for would be confidence, how the person interacts with others and it may even be a good idea to ask about any property management ideas they may have. Prior to an interview I would advertise the position locally and request an application, this allows you to get background information about your prospective manager and gives them the opportunity to show off any qualifications or experience they may have.
This is a great way to screen your property manager as you have the opportunity to find out about their personality traits, experience in management, and whether they would be a good fit for you and your tenants. Another thing to bear in mind would be to avoid focussing on previous experience too much because although it is important, there are other traits that can contribute to someone being more suitable for the job.
Deciding on the Jobs Roles
Within the role of manager, there will be many responsibilities that your candidates will have to be aware of before their employment, I would recommend that you make a note of the most significant tasks your manager will be expected to do to ensure you are as clear as possible of the expectations of the job. A property manager will be expected to do a number of things, and because it is such a demanding role you should make sure your candidate knows exactly what is going to be expected of them before you decide to give them the position. A property managers role can entail a number of things including:
One of the most important tasks your property manager will have to be particularly efficient with would have been the management of your finances including ensuring everyone’s rent is paid on time and correctly. As well as organizing rent your manager will be responsible for the costs of running your properties and ensuring bills, repairs, and other payments are all paid and monitored to ensure they are right. Financial skills would be a very valuable aspect to have within your property manager but, in cases where this isn’t possible or if you had a candidate who was promising but lacked the financial skills you may have to think about finding the best wealth management company, in order to ensure your finances are effectively managed.
Communicating with tenants
As previously mentioned, if you are somebody who is planning on taking a step back from managing your property, your manager will become a direct communication link between owner and Tennant. This means your manager will definitely need to be able to communicate effectively and professionally to make sure you have the best relationship with your tenants. The interview process would be a great place to check on how your candidates interact with others and provide the opportunity to test what their responses would be in certain situations. If your tenant has an issue with the property your manager will need to be able to provide a satisfying solution as quickly as possible, this occurrence can be very stressful so you are going to want to hire someone who can keep a level head and deal with issues effectively.
Another responsibility your property manager will need to have is being extremely organized, especially if you are the landlord for multiple properties it is vital any documentation is kept safe and separate from your other houses. In the event that this documentation is required, there is nothing worse and nothing more unprofessional than struggling to find what you need in terms of the necessary documentation.
Testing in the field
Finally, one of the best ways to test if a person is right for the role of your property manager would be to offer them a trial period in the job role. By offering your candidates the opportunity to prove themselves in a real-life situation gives you the best idea as to how they would react if they were successful. I would start small with jobs like organizing your property documents, speaking with tenants, or showing people around a property so they can show some if they have some of the fundamental skills needed for the position.
This is one of the best screening methods as you will very quickly and very easily be able to see how well they would do, I would look out for traits like confidence, a positive attitude, and enthusiasm and hopefully, you will be able to find the very best property manager for you.