Are You Getting The Most Out Of Your Property Manager?

The property manager is a key member of your team and hiring one is a big decision.  But the board’s responsibility does not end there.  It is important that you get the most out of this relationship.  Here are three questions you should ask about your property manager.

1)    Are they listening?

As in any relationship, business or otherwise, listening is an important skill. Managing your property is not a one-way dialogue.  The board has a fiduciary responsibility to fulfill, and property managers must help them meet this responsibility.  Good property managers do this by listening closely to the board’s concerns and understanding the goals as you have communicated them.

2)    Are they responsive?

Property managers are the face of your building.  Are they responsive to tenant’s requests?  Are they responsive to the board’s concerns?  An effective property manager needs to handle all the day-to-day issues of your building as well as requests from the board.  That is the job they were hired to do and you should accept nothing less.

3) Are projects being bid in a responsible manner?

Capital improvement projects can cost a lot more than necessary if the manager does not seek out several bids to find best value.   Careful screening and sealed bids presented to the board will ensure not only the best pricing, but also prevent nasty kickback schemes.

Does your property manager meet these requirements?  Insist on it.  If you have any doubts, contact us at Pride Property Management and we will be happy to share our insights on getting the most out of your property.

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