Being a successful commercial property manager means going beyond just taking care of the buildings or maintaining property grounds.
Being a successful commercial property manager means going beyond just taking care of the buildings or maintaining property grounds. A good property manager is conscious about the overall needs and conditions of his or her tenants, guests and community. At the same time, property owners expect their managers to minimize the cost of maintenance while maintaining the property well enough to increase the value of their asset. Below are five tips and qualities that can help you meet these expectations.
1. Be ethical and honest. Property managers make decisions that effect their properties and tenants every day. It is vital that openness and honesty are at the forefront of communicating your decisions. As a manager, you may be responsible for a developer's, owner's or community's property. One indiscretion can tarnish your relationships, most likely resulting in you losing your job and not getting a valuable reference for future employment. It's important to live by an honor code even when the issue seems trivial.
2. Listen and communicate well. A successful commercial property manager has to make sure everyone involved in the property understands each other well. This part of the job requires an articulate and calm demeanor. Many times managers must communicate with law enforcement, property owners, businesses, tenants or vendors who are frustrated, upset and angry. Speaking in a professional and calm manner is a requirement in conflict resolution.
3. Flexibility is a must. Commercial property management is constantly changing. Variables in the economy, government, industry and society in general will impact your profession. You must be able to adapt. In property management, you can try to plan your day, but nine times our of ten, it's not going to go your way. Expect changes! Flexibility also involves having an open mind about people. You must be objective about people you find different or you could find yourself guilty of being discriminatory.
4. Be attentive to detail and organized. Commercial property managers have numerous irons in the fire on any given day and the overlooked details are usually the things that get noticed. There is an endless list of items you must oversee: financial records, lease renewals, rent collections, as well as contracts for security, landscaping and other services. While getting the grass cut or watering plants may not seem like the top priority, it's what your tenants and future residents will notice the moment they enter the property. You must keep an eye not only on all the “behind the scene” details, but all the details people see on a daily basis.
5. Be a follow-up person. One of the top complaints about commercial property managers is that they are hard to reach and do not follow-up. A tenant leaving you a voicemail views their issue as the most important, although you are multitasking numerous priorities. Be conscious of how long it takes you to follow-up. Even if you need to just call and tell the tenant, “I'm working on it.” Acknowledging that you at least got the message is reassuring and makes you look on top of things. The same principle applies when following-up with any other person, vendors, future residents, businesses, board members or owners.
If you are a commercial property manager, think of yourself as a support to your fellow staffers, tenants and owners. You are the mediator that makes communities better, business stronger or guests happier. These 5 tips will help make you a successful commercial property manager!
