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Secrets of Successful Property Managers: Excellent People Skills are Critical

Posted on 27. Jan, 2010 by Mike Levy in Business

Over the last several months I have interviewed 50 of the most successful property managers across the United States. One thing I consistently heard over and over from the property managers, is the importance of having good people skills. One property manager said, “the most rewarding aspect of property management is working with people,” yet others agreed that sometimes it is not that easy to do.

Five critical people skills that were identified in the interviews were:

1. The ability to relate to people at all different levels.
   This was definitely a common theme in the interviews. Many of the property managers talked about the need to have the ability to relate to all types of people in all types of businesses. In the property management industry you literally come in contact with just about everyone from just about every socio-economic class you can imagine.
2. The ability to exercise patience.
   Every day seems to bring on new challenges and problems to solve. Sometimes these problems can be very challenging, hard to deal with, and frustrating. Many of the property managers talked about the need to exercise patience in these situations. Many said this is especially important when dealing with clients and tenants, especially when they end up taking on the mediator role.
3. The ability to be willing to change.
   The property managers were almost unanimous in their belief that you needed to be willing to change when the environment and/or industry changes. Almost all of them talked about how the economy has affected their business and what they needed to do to adjust to these changing times. Some also suggested that some of these changes in the industry are also creating opportunities for new property managers to offer new, creative, and innovative service offerings.
4. The ability to listen.
   Many of the property managers emphasized the importance of listening to their clients, tenants, residents, vendors, suppliers, employees, and others. Listening without cutting off the other person is absolutely critical. Mark Mascia (Mascia Management, LLC), put it very succinctly when he said – sometimes people simply need to be heard, even if it’s a complaint, and a lot of problems can be resolved just by listening.
5. The ability to say “NO” when necessary.
   Many property managers have a tendency to say “yes” to their clients and tenants just to make them happy and sometimes to cool down a heated situation. However, a number of property managers explained why sometimes it is most prudent to say “NO”. In fact, some indicated this was actually a critical success factor for them.

The interviews are documented in my upcoming book: “50 Interviews: Successful Property Managers.” Volume 1, the first 25 interviews, will be published in February 2010; followed by Volume II, the remaining 25 interviews, in April 2010.

Michael Levy is a very passionate entrepreneur who has written the book “50 Interviews: Successful Property Managers” and has started four companies providing services to property managers in the last six years (Levy Consulting, LLC, NorthernColoradoRentals.com, LLC, NoCoAds, and USAPropertyRentals.com, LLC). Michael lives in Fort Collins, Colorado and likes to spend his free time during the winter months downhill skiing at the Winter Park and Mary Jane ski resorts in the mountains of Colorado. Connect with Michael on his blog at Successful Property Managers, LinkedIn, and Twitter.

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Tags: business, communication, interview