Getting into property management is a wonderful career opportunity that can stand the test of almost any economic environment. That’s because there will always be those who need to rent or lease office space, private homes, and the like and many of these properties will be owned by landlords who simply do not wish to deal with any tenants. This can be due to the fact that they live in another state, or that they just don’t like dealing with the public. Whatever the case may be therein lays your opportunity.
Before you get started finding too many properties to manage it is worth noting that there are a number of supplies that will be needed in order to successfully manage any property. These supplies include:
• Marketing Materials: When you do have vacancies in the properties that you are managing you need to be able to advertise as such. If a landlord is not making money on a property because it is empty, they will not be able to retain your services very long. Get a whole host of marketing supplies that will draw attention to the property that is empty such as flags, vacancy signs, and the like. The faster you fill your empty properties the better.
• Parking Control: If you intend on managing a property that has limited parking spaces then you will need to get a full line of parking control supplies. This can include parking permits, no parking signs, and even parking violations will all be needed in order to maintain an orderly parking lot.
• Leasing Tools: It is important to have all the necessary documents on hand whenever you manage properties. These include lease or rental agreements and other such documentation that explains all the rules and procedures that tenants must follow. You should also obtain a rent or lease payment drop box so that tenants can make their monthly payment even if you are not around. This will cut down on the number of delinquent payments and keep the landlord happier. Another good tool to have that can help you with your leasing efforts will be a key cabinet that can store and keep organized all the different keys to the various properties that you manage.
• Pool and Other Outdoor: Some of the properties that you may end up managing could have a community pool and or community park. It is important to have all of your rules and regulations posted in and around these outdoor areas so that the tenants take the proper precautions and everyone stays safe. Signs and other reminders should be acquired and posted at all times in these areas.
Being a property manager is a job that requires a lot of patience and dedication. While the job can be taxing on the nerves at times, it is also one that can be quite rewarding. Having all of the proper supplies on hand before when you are managing your properties will ensure that there is more joy and less stress that comes from the properties that you decide to manage.