As a property manager, how would you score if your employees and residents gave you a review? Would they want to learn from your success, or would your management style be an example to avoid? Knowing what practices to keep are integral to becoming a leader in the Houston property management industry.
Between managing communication with your tenants and supervising the tasks of your employees, property management is a job with multiple facets. Performed correctly, it could be the greatest career in your life. However, costly mistakes could put you and your Houston property in jeopardy.
Management Practices to Avoid
DON’T micromanage your employees. If you’ve hired a team with experience and skills to adequately perform their tasks, use your authority sparingly. Make sure there are clear expectations and allow open communication, but then let the work speak for itself.
DON’T stop learning. Whether you realize it or not, there are multiple resources available to improve your productivity and tenant retention. Reach out to others in your network to better understand your field and provide training to your team.
DON’T discriminate against tenants. This should go without saying, but it’s important for you to remember. In your tenant screening process, be fair. Don’t discriminate against any of the protected classes.
DON’T neglect notices. From terminating a lease to sharing maintenance terms, neglecting to properly communicate with your tenants will ignite a number of legal issues.
Management Practices to Learn
DO create a website that is accessible to everyone. From initial contact information to tenant portals, clear communication at the onset will benefit both tenants and the property management personnel.
DO hire an external accountant. As a property manager, you’re pulled in every direction on a daily basis. Protect your assets and adhere to a budget with an accountant to handle your finances, especially rent collection.
DO earn the trust of your residents. If there is a complaint, respond quickly and honestly. Whether you have a commercial or rental property, your tenants should be able to rely on you to take care of any repairs or problems at the appropriate time.
DO follow the rules. When a new resident signs a lease agreement, it’s your job to file the necessary paperwork and adhere to state guidelines. The last thing your property needs is a failed audit or inspection of your property. Make sure you have the correct policies in place to guard against issues in the future.
Pro Tip: Government policies and regulations change regularly in residential property management. Stay ahead of the changes with a professional property manager to sustain your properties.
Property Management in Houston
In the Houston area, we are surrounded by big empires and industries that stretch across the globe. For many, it can seem cold and impersonal. That being said, it’s the job of a property management company to care for their people. Our team strives every day to provide excellent customer service to our clients. It’s our priority to make sure each resident is given the care they deserve.