Hiring someone to look after all aspects of your residential property management can greatly benefit many companies, individuals, and businesses. In today’s busy property industry, many are finding it easier to delegate some responsibilities to reputable experts, to maximise their time and productivity.

Who needs residential property management and what skills are required?

Whilst there are no set attributes required when you begin working in the residential property management field, there are some highly desired character traits that would certainly be beneficial.

Attention to detail is required, as you will be dealing with a constant stream of questions and queries. You will need the ability to keep track of tenants’ requirements as well as keep detailed notes and lists updated regularly. You should be able to predict problems before they arise and have a ‘can-do’ attitude when it comes to rectifying issues.

Excellent communication is essential as you will need to be able to communicate between all parties clearly and concisely. Good computer skills and excellent telephone manners are also highly desirable.

What does a residential management company do?

A residential management company will act on behalf of the tenants and the landlord of properties such as apartment blocks or a busy landlord’s portfolio of properties. Their job is to ensure that all properties are maintained and managed to a high level. Daily, weekly or monthly tasks may include, but not be limited to:-

Communicating important information and views between landlords and tenants – residential property management involves a lot of trust being placed in both parties. Communicating regular updates and feeding through any thoughts, problems, or questions from the tenants to the landlord is an essential task.

Taking note of repairs and arranging for them to be carried out – the properties should be regularly checked for repairs and any issues must be spotted ahead of time. Residential management companies should also pass on information about repairs required and arrange for these to be addressed once authorised.

Communal areas – a good level of maintenance should always be maintained in the communal areas of any building. This could include issues such as regular grass-cutting and keeping communal areas clean and tidy.

Onsite facilities – ensuring that any onsite facilities such as elevators and parking lots are in full working order and well maintained is also highly important.

Health and Safety – general health and safety must always be considered, as well as ensuring that any permits and documents are up to date.

What to look for in a good residential property management company?

A good residential property management company will be willing to be open and honest about their level of industry experience and able to present you with their portfolio with references and statistics to back up their claims. A well-oiled team will consist of highly motivated individuals who are always prompt and professional.