The best property management company goes beyond the standard service you might expect. It is concerned with helping your community and building toward a successful future. Below are some key aspects that make a great property management company stand out from the rest.
Strong Communication Skills & Leadership
Who your manager is and how their team supports them is crucial in ensuring strong leadership and effective communication skills. To this end, a team of experts across various fields including Engineering, Training Support, Human Resources and Accounting will help provide advice from all angles.
Having effective communication tools put into place make it easy to contact your company. A 24/7 call center or other means of technological communication will add a professional quality to your company as you can address the needs of clients as soon as they come up.
Solid and Transparent Standard Operating Procedures
Proven operating procedures are the next thing investors should be looking at. What properties have you worked on or which communities have you served? Was effective preventive maintenance programs (PM) put into place? Were audits of all contracts and vendors complete?
Transparency is key, and having a transparent financial budget and system of handling finances and solutions can really increase the value of your property. If your credibility and reputation is high, this makes the standard of living for your residents high as well.
Effective Financial Planning
A strong network of certified accountants is important for the health and prosperity of your property management company. Reviews should be carried out internally on a regular basis to ensure that the work is being done to its finest quality.
Having solid and long-term partner-relations with vendors ensures that savings and discounts will be present on large purchases. Lower rates on regular maintenance, for instance, help to ensure that the building will be properly maintained.
Accountability & Sustainability
Continually improving and keeping an open mind ensures the potential for growth in the industry. It’s really important to make sure that you don’t rest on your achievements as a company.
Finding sustainable “green” initiatives is also a significant component of a great property management company. Having accredited LEED professionals on your team shows your expertise and commitment to green building.
Good Training Practices
Commitment to good training practices means exceptional customer service from your team. A unified, strong and trained property management company will provide continual education and development programs for their managers. Hands-on-training, etiquette, and online learning platforms are examples of learning that can enhance the knowledge of new trainees. This shows that your company leads in product knowledge of the industry and is equipped to deliver the finest level of service.