How To Choose a Property Manager

What Does a Property Manager Do?

Having a reliable property manager means that homeowners are spared the headaches of managing their properties so they can focus on enjoying a great quality of life in their community. Typically, a Board of Directors makes property management decisions and a property manager carries out those decisions. Depending on the needs of the community, a property manager:

Manages maintenance service providers;
Manages construction projects;
Enforces rules set by the Board of Directors;
Educates the Board on proper protocol and legalities;
Acts as liaison between homeowners and the Board;
Collects dues and maintains accurate bookkeeping .

How to Choose the Right Person

Ideally, the property manager you choose should be:

A people person — someone who is good at dealing with different opinions, different types of people, and who is a good judge of character;
A good negotiator — someone who can assess a situation and save you money by negotiating on your behalf when it comes to when it comes to finalizing contracts with all your service providers;
Aware of your HOA's unique needs — not all HOAs are alike;
Calm under pressure — someone who is mature enough to stay calm under pressure and juggle a variety of responsibilities;
Engaged and present — someone who cares about your quality of life and is onsite as often as needed, not just pushing paper from a remote office;
Able to handle complexity — someone who keeps track of the accounting and other details of a complex job and who follows up so nothing is left dangling;
Aware of the market and of the value and yield of your real estate investment .