Property management training can be learned on the job and in the classroom. There is nothing like on the job training for many professions, including property managers; however no one wants to pay for someone to be trained on the job and have to live with their mistakes. Most property managers will take a variety of courses these days to certify them for property management and to ensure that they understand the basics of what it takes to manage a building and all of the associated tenant issues. A well-trained property manager can save you thousands of dollars in better tenants and reduced expenses! Better tenants cause less damage and some will even spend small amounts improving their units in return for great service and good relations with the property manager.
Property Manager Training
Other Aspects of Property Management
Property management is also much more than just dealing with maintenance of various components that are required to keep a building safe and operational. There can be a lot of interaction with clients. This interaction can be with the owners who want status updates, who want see that their money is invested wisely and spent in a manner that makes sense for them and the tenants. Above all they would like the opportunity to continue making a profit going forward in time.
There is also a lot of interaction with tenants as well. In one respect the property manager is representing the owner. They are the interface that the tenants see possibly every day. Their frustration etc with owner policies can be taken out on the property manager.
The property manager is also the guy who can help the tenants with a lot of minor issues. Which enhances the reputation of both the owners and management. It is the property manager’s job to interpret the guidelines imposed by the owner. They must apply them to many different situations that may arise with tenants and with the building he or she is responsible for.
Property Management is a People Job
In many cases property management must also be a people job. With all of the interaction with tenants, owners, various trades that come to the property to do some kind of work and guests of the tenants, property managers need to have excellent people skills as well.
Diffusing a situation that could erupt and involve all tenants for example can make for a far more harmonious workplace. Property managers must be good at dealing with and managing people without getting everyone upset.
Property management training does not always cover these practical aspects of managing a building. Really this is more about interactions with customers and management. It is about dealing with problems and solving them. It is about people management, conflict management and communications. Not all property management courses cover these areas or provide training in communications for example
Local Bylaws and City or State Laws
Another area that property managers must pay attention to is local laws and bylaws. They might affect the day-to-day decision-making when it comes to dealing with tenants, trades and city inspectors. Most people do not even realize that in some cities there are bylaws covering a multitude of issues. As a property manager it is your job to be aware of those that may affect your job. Also the building you are responsible to manage. If you decide to move to a new city to take a property management job, get to know all of the local bylaws.
At the very least, spend some time reviewing the major ones that could get you or your owners in a spot of trouble.
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