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Most realtors avoid property management. It’s less exciting than making a sale and requires more focus. Each of a property manager’s properties is usually reviewed separately. A successful property manager will excel in these areas. What makes a good Lake Charlevoix property manager?

KNOW YOUR CUSTOMERS

Spend time learning about your clients and their property. For example, every condition is distinct, and every property is one-of-a-kind. While, some owners may experience investing, others may be first-time landlords with an emotional connection to the property. Nonetheless, a property manager must be sociable and aware of who and what he or she is dealing with. Some of this requires time, and expertise is crucial.

COMMUNICATION

Property management requires excellent communication skills. Owners, tenants, employees, and vendors need protocol guidelines. Property management is dynamic. Skilled property managers know how to communicate with each member to get the intended result.

Clarity matters. A skilled property manager realizes that different persons prefer different communication methods, such as email, phone, text, or carrier pigeon (joking), and ensures his message is effectively delivered. Set initial expectations. Due to technology’s fast speed, some may demand a quick solution, but a good property manager can set the tone early. Effective property managers communicate well.

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Organizing abilities Move-ins, move-outs, make-readies, repairs, lease renewals, and property crises may put even the most organized property managers to the test. A successful and effective manager has in place processes to assist him in tackling the often intimidating task. Planning ahead can alleviate a great deal of stress and guarantee that everything’s taken care of as required. The key to organizational success is relying on a well-established system developed over many years.

Gut Feel

Flying by the seat of your pants and resolving issues as they arise may be acceptable in certain areas of real estate, but not in property management. At Northern Michigan Escapes, we have spent years refining our management system in order to provide our clients and tenants with the best possible experience.

Multitasking and adaptability

The capacity to switch quickly from one job to another is essential. Scheduling is useful, but interruptions by emergencies and urgent client requests are highly prevalent. Even if a decent timetable can serve as a starting point, crises come, circumstances change, and work must be regularly re-prioritized.

Site Inspector, Service Coordinator, Contract Negotiation, Collection Agency, Bylaw Enforcer, Professional Advisor, Mediator, Community Liaison, Team Leader, Publisher, and, most importantly, nice neighbor! Ultimately, they are responsible for making people’s homes and properties more desirable places to live and work.

THE MANAGEMENT OF TIME

Never enough 24 hours. The repairs need to be quickly finished, while revenues have to be transferred to owners on time, and contractual obligations and deadlines are met. Property managers must be able to prioritize. Overfocusing on one topic while disregarding others can be harmful.

Education and instruction

Specialists are always recommended. When making property-related decisions, owners and investors trust Property Managers. If not required, property managers should be well-trained, knowledgeable, and up-to-date on industry trends.

What Characteristics Make a good Lake Charlevoix property manager? The aforementioned are characteristics of a good property manager for your Lake Charlevoix home.