The responsibilities of a Property Manager are vast
The role of the property manager is diverse and a heavyweight on their shoulders is keeping a plethora of stakeholders happy. Not including internal stakeholders, such as Principals, Direct reports, Line Managers, or Colleagues, a Property Manager has an infinite line of tenants, suppliers, and landlords that they need to keep content. Without their satisfaction, it’s a hard task to keep the doors of an agency open.
In the industry, we hear a lot of stories about ‘bad’ landlords. They refuse to pay for maintenance, or perhaps they’re a little overbearing about their property. No matter which end of the spectrum your landlord sits at, there are a few things that Property Managers can do to make sure they’re keeping their landlords happy. A happy landlord will result in higher levels of trust between the Property Manager, tenant, and landlord, and when the relationship is healthy, a healthy work-life is likely to follow.
We’ve got 6 tips for helping Property Managers keep their landlords happy.
At the core of any professional relationship is communication. Keep your landlord in the loop about absolutely everything. It is their investment and it helps to build trust when you’re going to them with what’s happening rather than them coming and asking you. Be on top of maintenance. Small maintenance jobs reduce the time and amount of calls made to a landlord requesting money to patch up issues that could’ve been found and dealt with earlier. Make communicating your role, and your responsibility, to build trust and a healthy relationship while keeping everything within your control.
#2. Make sure rent is disbursed on time
This might be a little bit too obvious, but it is critical to follow. Almost all landlords have mortgage payments coming in every month that is paid off using the rent disbursed from the tenant through you. Be on your tenants’ heels making sure that rent is paid on time to continue keeping the landlord happy and satisfied. Tools such as ‘Console Pay’, if you’re with Console, give the control of collecting and disbursing rent completely to Property Managers.
No one wants to be taking calls late at night outside of work hours after working a long hard day, so flexibility is important. Landlords, much like Property Managers, will usually be on the clock 9-5. Because of this, attending inspections, when wanted, isn’t always going to be easy. Flexibility allows Property Managers to go out of their way to make landlords feel special and outwardly shows to them how much the Property Manager cares about their business. All of this makes them feel like they are required and want to keep you on board!
#4. Record EVERYTHING!
Record everything! A huge part of the job is keeping records of happenings anyway, but there are some instances where information not generally recorded can be helpful for the landlord to have a copy or know of. Always make sure that you are recording what the landlord wants. Of course, due to compliance in the work environment, documents are required to be sent to the landlords. Going above and beyond. This is how you build trust and keep them happy. Try asking what they want to be recorded on top of what is already being sent over. As long as it is in reason and the increase to your workload is not too much because of it, why not make an effort to keep the relationship with the landlord healthy and happy.
#5. Keep tenants onside
Good tenants are obliging, and the last thing a Property Manager needs is an extra pain in their side. Keeping tenants onside means less painful interactions all round. They will report maintenance or any issues early, keep you in the loop about the property, maintain the property well and be respectful. A tenant who is respectful of the property is 1. One you want to keep around! And 2. One that will make your landlord happy, too!
Property Managers are already incredibly busy with their workload. Good tenants are ones that adhere and oblige Property Managers, so keep them to the side and you won’t get an extra pain in your side. This will decrease the amount of painful interactions. Good tenants will report issues and maintenance requests early while keeping you constantly in the loop all things to do with the property, maintain it and respect both you and the premise. Keep around these types of tenants. They will both make you and the landlord happy.
#6. Be realistic. Know when to move on
Unfortunately in life, things just don’t work out. It’s important to realise when the relationship between a Property Manager and the Landlord is strained and beyond repair. Perhaps in a situation like this, that landlord would be happier with their property managed by someone else, and is that such a bad thing? If the landlord is taking more time from your day than they should be, then it might be time to reassess the relationship. We’ve gone into this topic in-depth in another blog here, talking about when it’s okay to fire your landlord.
There are times when you need to realise and understand when things aren’t working out. Being aware of when the relationship between you and the landlord is too strained beyond repair. Understanding that you are in a situation where the landlord would be happier with someone else managing the property. This doesn’t have to be a bad thing. If the landlord is increasing your workload and taking time from your day, there is a point where it just isn’t worth it and should be time to reassess the current relationship. This blog here has gone in-depth into this topic of when is the correct and appropriate time to justify firing your landlord.
Want to know more about how Console can help Property Managers service and make their landlords, tenants and suppliers happy using our Property Management solutions, reach out to us today.
Console New Zealand
Console are providers of trust accounting software and end-to-end property management solutions, for property managers and agents in Australia and New Zealand.