Showing posts with label Property Manager. Show all posts
Showing posts with label Property Manager. Show all posts

Sunday, 1 May 2022

ATTRIBUTES OF A PROFESSIONAL PROPERTY MANAGER

 

ATTRIBUTES OF A PROFESSIONAL PROPERTY MANAGER

Behavioral characteristics can be considered when determining an individual suitability with a given line of work and that suggests his success when eventually given the responsibility. A good property manager will be able to handle multiple properties seamlessly, without straining to address tenant complaints or maintenance issues.

The following are attributes of a professional property manager:

·        Sociability: Property management is a business that requires humans interacting together. The professional property manager relates well with the owner of the property, his superior, staffs, tenants, and subordinates. Professional property managers work effectively with others and exhibit a level of confidence when relating with business associates .

·        Assertiveness: A professional property manager needs to have self-confidence and a determined behavior towards getting results through personal imitating action. He spends more time in solving problems rather than dealing with people .

·        Attentiveness to Detail: A professional property manager has the capability of supervising the details of the operation. He inspects in details invoices, vacant apartments, and offices to confirm that they are in good condition. He receives reports from resident managers and bookkeepers and addresses tenants complain promptly through careful inspection of monthly operating reports.

·        Versatility: In spite of the fact that the profession is more specialized, the professional property manager through his skill may be required to do market analysis, act as an advertising executives, salesperson, accountant or maintenance engineer. These responsibilities could be achieved through his developed skills .

·        Decisiveness: A professional property manager has to take the decision or implements policy that is geared towards effective management of the property. Delays or indefinite postponement of decisions may lead to loss of management account or income.

·        Ability to Overcome Resistance: A professional property manager that wants to be successful develops a competitive attitude that helps him overcome resistance through the use of his negotiating skill with the prospective owner, supplier, tenant etc.

·        Energetic: The enormous task ahead of professional property manager gives him strength and courage to face some difficult decisions that result in effective management of the property.

·        Ability to Work within an Organizational Structure: A professional property manager must as a matter of fact, be able to work with numerous clients with a great number of buildings, tenants and different categories of employees working together on the properties. It is very necessary that the property manager operates as a team player.

·        Integrity: One of the outstanding behaviors of the professional property manager is the ability to maintain integrity. Integrity cannot be compromised in any way. Despite the manager’s knowledge, experience or skills, the moment he lacks the integrity he has automatically destroyed himself, others and the organization where he belongs. Integrity cannot be taught or demanded but an important prerequisite for a professional manger to possess .

 

Functions of a Property Manager

 

Functions of a Property Manager

The property manager is mostly concerned with the interpretation and implementation of the owner’s policy and interests. He purposes and gives advice on the alternative courses of action. The property manager must protect the interest of his client by making sure that financial and legal protections are guaranteed. The responsibility of the property manager covers the operation of the property investment (Hemuka, 1990).

 According to Ibrahim (2014), Olayonwa (2000) and Colorado State (2005); the functions of the property manager includes:

ü Determination of rental values, the collection of rents, keeping safe of the rents collected and rendering of accounts.

ü Making sure that records and register that will provide necessary data on the property are kept.

ü Ensuring good rent-paying tenants through careful selection, renewals, termination, negotiating and agreeing to terms and determining that tenancies/lease/sub-leases are well documented and consents given where necessary.

ü Making sure covenants and other development is implemented.

ü Dealing with the tenement, water rates and remitting same to appropriate authorities.

ü Making an adequate insurance policy plan for the property.

ü Making sure that services are provided to the satisfaction of owners and tenants.

ü Carrying out periodic inspection, maintenance, and repairs.

ü Selection and supervision of staff engaged directly and exclusively for a given property.

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