by David Cowley

Created on: September 06, 2008

Finding The Perfect Real Estate Manager. Managers are all important members of a business as they can either help boost it or they can cause it to fail. In the current property environment that businesses have to try and sustain themselves in, it is important for all mangers to have a well rounded personality. In this you can easily understand why it is so important to get the real estate manager who has the right attitude, skill sets and experience.

Depending on the type and size of your real estate holdings, property managers will need to use different skill sets. If you have just a few apartments or single family homes that you are renting then your property manager will need to have very good communication and customer skills when dealing with your renters. If your real estate holdings are quite large then personnel management skills will become very important. You never want to get a property manager that is in the business only for the money.

Small Real Estate Holdings Management

Maintaining a 100 percent occupancy rate is of primary importance for the smaller real estate manager. After all having a 10 or 20 percent vacancy rate can put you in a very large negative cash flow situation very quickly. Your manager will need to keep your rentals occupied and the tenants happy. He or she will need to not fall victim to a tenant's hard luck story on why the rent was not paid on time.

Your manager will also need to be able and willing to take care of minor maintenance problems such as painting, plumbing, electrical and carpentry work. After all, managing your property will not be a full time job and if your manager can take care of minor maintenance problems himself, it would go a long way in maintaining a positive cash flow.

Medium Real Estate Holdings Management

The primary difference between small and medium real estate holdings management is his ability to manage independent contractors. Your property manager will not have the time to do a lot of the maintenance himself. What you are looking for is someone that can develop a relationship with other small business or independent contractors that can do most of the maintenance on your properties but not pay full price for that service.

Your real estate manager will need the ability to see a maintenance problem and determine if the problem has to be fixed right away or if it can wait a few days. If it can wait a few days then your property manager will need to make arrangements with one of his independent contractors

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