Is It Time For A Property Manager

Renting a property requires a broad skill set to match an ever-changing set of challenges. What you might have been able to handle at one point in your career as a landlord may alter over time.

Read on for the aspects of property management that might inspire you to call in reinforcements to help you out.

Maintenance
If your stable of properties has grown, you feel like you’re losing money on repairs, or you’re just short on time, you might want help with property maintenance.  Consider how a landscaping service might do more work than you can comfortably, saving you hours that could be put to other use.

Interacting with residents
If you have a number of residents or have your properties scattered throughout the area, collecting rent and dealing with all the issues residents might have can become time-consuming. A reputable property management company can take the headaches away by collecting rent, keeping units rented, and dealing with resident problems. Property managers can also help you stay on top of maintenance, legal issues and affordable housing program paperwork. The peace of mind you get from the help will likely make the service worth every penny.

Keeping up with laws
Housing law is in constant flux. From rent control to changing codes, you need to be on top of it all to stay compliant. If you’re already feeling overwhelmed, a real estate lawyer might make your life easier by making sure you are up to date legally and that your property insurance provides adequate protection, for instance.

Taxes
If you’ve been brave enough to manage your taxes on your own, hats off to you. With a single rental property, there is a lot to keep track of in terms of deductions and how much tax you owe. With more than one property, the paperwork increases significantly.

Always hire who you want and let the people not performing go

I have been taking a once a month year long training class at Sandler Training in Omaha, NE about successfully managing a sales team.  So far I have attended two meetings and have gained a wealth of knowledge.  I want to talk about the first meeting, because you really can make so many changes to the base of a company with this advice.

We started off with making a job description that completely details exactly who you want on your team and who not.   With this there is no compromising on what you want out of an employee, everything is written out and explained in black & white.  Also noted on the job description, states to not apply if you don't fit, capable and comfortable 100% with everything on the description.  You will never hear me say "I think this person will work for the time being, to fill a position".  I will only hire someone that fits everything I am looking for, this will only make my job easier. 

What most managers do is hire someone to fill the position, to have someone start to work because they are so busy, that is completely wrong!  Hire the correct right person, and you don't have to worry about them not performing or doing what has been explained from day 1.

Also covered in the first meeting was the point to always let your direct reports know where they are standing on a weekly or monthly basis, goal wise.  This will in return make your direct report want to be on top. The last thing someone wants to see is their name on the bottom of a list.  With that we also talked about the benefits of always hiring, because if you team is lacking somewhere you need to let someone else take over who can perform to being on top.   

Lastly, I would like to post that Dino's Storage is currently hiring for Property Managers in Nebraska and Iowa.  Please click the link visit Dino's Storage website for more information and a job description. 

If you are interested in finding more information about Sandler Sale Training and Sale Management Training, please visit their website: www.sandler.com/