Being a property manager can be a very rewarding experience, but there are important things anyone should know before deciding to pursue this profession. There are actually two different types of property managers—managers who work on-site and managers who work remotely. Managers who work on-site enjoy some distinct perks but also have to handle certain woes.
Perk: Closer Relationship with Residents
Many property managers who work from an office don’t enjoy the same level of personal interaction with residents that on-site managers do. This more hands-on interaction can be extremely rewarding as well as utilitarian. An on-site manager who has a strong personal relationship with residents is less likely to be replaced and can even attract new residents to a property thanks to their reputation through word-of-mouth.
Woe: Little Variety
One of the most exciting things about being a property manager is how varied the job can be. No two days are truly the same. When working on-site at the same property, however, you lose a lot of this variety. Instead of managing a portfolio with many different properties, you only manage one. This can be a lot less stimulating than managing multiple properties at once and a poor match can result in job loss entirely rather than simply being removed from one property.
Perk: Physically Present
On-site property managers enjoy the perk of being physically present. This allows them to inspect the property or view issues with their own eyes rather than relying on resident or contractor reports. This perk also creates the ability to respond more quickly and effectively to issues, as on-site managers can give their own firsthand and professional analysis of a problem. For example, it is much easier for an on-site manager to see and describe a crumbling staircase to a contractor so the issue can be repaired quickly. You usually get free rent when you are an on-site property manager. This also means no commute to work. Some even have day jobs besides their property management duties.
Woe: Dealing with Dirty Tenants
The job of a property manager can be a thankless one. Tenants can be dirty and leave messes in common areas and in their units. This can make it harder to keep the entire property clean and clean up units before new tenants move in. On-site managers should have access to good garbage removal services so their properties remain aesthetically pleasing. You don’t want to loose good tenants because a few fill the skip bins with dirty mattresses and overflowing garbage without bags. It’s up to you to make sure that your property can fill the needs of your tenants. Even when it’s dirty business.
There are both pros and cons to being an on-site property manager. All managers should consider the type of work environment that suits them best before committing to a job. By making the right choice, both you and your clients will be much happier.