Taking the background information I just told you yesterday into consideration, I’d like to give you a list of ways NOT to treat a property manager.  If you don’t do these things, you may have a better chance of success using a property manager to manage your property.

• Don’t expect miracles.  You’d think that goes without saying, but…no.
• Don’t get upset if your rent doesn’t arrive on the exact same day every month.  People get sick and miss work; a simple storm can produce tons of maintenance and coordination work that causes the entire office to get behind; bookkeepers quit; so on and so forth.
• Don’t get caught up in the idea that your property is the PM’s only–or primary–responsibility (unless you own a large property and employ dedicated management staff).
• Don’t hide from your PM.  If they’re trying to reach you, it’s likely for a very good reason.
• Don’t lie if you don’t have the money to fix your property to get it rented.  The PM might be able to help or work out a payment plan with you.  Or, perhaps they can get you a tenant with handyman skills who’d be willing to live there for a negotiated discount on the monthly rent amount.
• Don’t think for a second that a PM won’t cut you loose for being a pain.
• Don’t think that property managers won’t ask each other for a reference on you.  They are competitors, but there is a common bond.  None of them want to take on another difficult client.
• Don’t call with an “emergency” unless someone’s health is at risk, your property is IN THE PROCESS of being damaged or ABOUT TO BE damaged, or you’re about to be hauled off to jail and need to leave a forwarding address or something.
• Don’t be afraid to call with a concern.  BUT…(see next one)…
• Don’t pester your PM by calling too often.  If you do, your concerns will be classified as irritations.  And, if you’re THAT insensitive to the fact that you’re leaving messages for probably the busiest person you know, your PM may become insensitive to your concerns.  Unless your PM is waiting on your response, probably once a week phone calls are plenty.
• Don’t gripe about the PM to the staff members in that office unless you want the PM to hear it.  Anything negative you have to say may be blown out of proportion by the time it reaches the PM’s ears (and, it will).
• Don’t forget that some of the staff members may be related to the PM.  You may be griping to or about the PM’s sister, mother, father, husband, wife, child, you name it!  The problem there is that you become instantly disliked.
• Don’t threaten.  Don’t threaten to fire the PM; don’t threaten to turn them into some authority (BBB, for example); don’t threaten to withhold monies.  If they’re that horrible, just take back your keys and go elsewhere!  Chances are, there are so many property owners looking for property management, the PM won’t be sad to see you go…or even notice you’ve gone.  That leads me to…(see below)…
• Don’t forget that you need them probably more than they need you.  You don’t have to kiss ass.  I’m just saying!
• Don’t assume that emails are going to cut it unless you have a history of good response from emailing your PM.  They may be more responsive over the phone.  The worst case scenario is to have a PM that only really responds when you personally visit the office.  The second PM we used was that way.
• Don’t think that they can necessarily motivate contractors to work faster any more than you can.  Contractors are another special breed that I think I’ll write about sometime.  They operate on something I like to call “contractor time”.  I haven’t been able to find a contractor clock anywhere yet–but, I’m still looking.
• Don’t tolerate unexplained expenses deducted from your rents.  Always, always get a monthly statement that details income and expenses.  Then, check the math.  You may be doing the PM a favor by alerting them if their bookkeeper is making mistakes.  You’ll also let them know that you’re paying attention.
• DON’T SIGN A MANAGEMENT AGREEMENT UNTIL YOU READ AND UNDERSTAND THE ENTIRE DOCUMENT.  You may need to consult an attorney.
• Don’t be uninformed.  Read through the landlord-tenant law in your area.  I found a handy booklet outside the Sheriff’s office at our local courthouse.  You can generally rely on your PM.  But, you should know if they’re licensed before you hire them, or they’re required to be in your state.  Here in OK, a property manager is required by law to be a licensed broker (which is one step up from a licensed agent).
• Don’t yell, scream, or be overly emotional.  The PM gets that all day from others and won’t respond to it–at least, not the way you want.
• Don’t confuse the property management process with adoption.  The property manager is not “taking over” your property.  They’re caring for it.  You’ll still have to make all the major decisions regarding tenant choice, major repairs and upgrades to be done, bid approval for contractors, rent rates, and more.  Just because you hire a PM, your property still won’t be completely “hands off” for you.

If anyone has anything else to add to this list, feel free to do so in the comments!  It is my hope that I might be able to help prevent misunderstandings and enable property owners to forge a better working relationship with the property manager of their choice.  I’m not done yet….  I still have more to write about this topic.

June 8th, 2008
Categories: Uncategorized . Author: Trisha

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