From defusing escalating disputes between neighbors to setting up smart doorbells, property management demands a wide range of soft and hard skills that few other jobs require.
And while many of these skills are honed through experience, having a strong foundation is essential for new property managers to operate confidently from day one. In this article, we explore the key skills and areas of knowledge to cover when welcoming new members to your property management team, and list courses, certifications, and websites to help them grow into successful, efficient professionals.
Property managers deal with people daily, from de-escalating noise complaints to discussing prospective tenants with property owners, so solid interpersonal skills are a must.
A good property manager must be a savvy problem-solver, a skilled negotiator, and an effective communicator. Empathy is also key, as they will encounter tenants and owners in varying circumstances.
Networking is another must-have, as property managers liaise with professionals from different industries on a daily basis. Teamwork and leadership are equally important, whether they need to find the right contractor for a repair or seek quick legal advice to handle a tenant.
Property managers juggle multiple duties, responsibilities, and changing schedules every day. Strong organizational and time management skills are essential for prioritizing tasks, keeping operations running smoothly, and handling everything from scheduling end-of-tenancy inspections to collecting rent.
Because of the busy nature of their jobs, attention to detail is just as important. Property managers must be meticulous in everything they do, spotting issues early to prevent costly problems down the line.
Successful property management relies on solid financial planning. Property managers need a strong understanding of budgeting, allocating funds for maintenance and repairs, and ensuring profitability. Reporting skills are also crucial, as property owners count on detailed financial reports to assess the health and viability of their assets or investments.
Another must-have is tech savviness. Modern property management leans heavily on technology, from property management software (PMS) to smart devices like thermostats and monitoring systems such as Minut. These solutions help enhance tenant experiences, optimize property owners’ investments, and streamline daily operations, so property managers need to be familiar and comfortable with them.
Comprehensive training gives new property managers the confidence they need to manage properties effectively and keep operations running smoothly.
Key training areas you need to ensure you are covering include:
Courses and certifications ensure aspiring or new property managers gain the necessary skills and knowledge. Here are some options:
Attending industry events is a great way to learn about specific topics, update your skills, and network with peers. Associations like IREM and NARPM host annual conferences—keep an eye on their social media and websites to stay updated.
Showdigs and Second Nature also offer useful resource pages listing key property management events throughout the year.
Joining professional bodies can provide you with the latest updates, industry insights, and regulatory news, along with tools and resources for everyday tasks. It’s also an excellent way to grow your professional network.
Consider joining or following:
💡Pro tip: Social media groups and online communities can be invaluable for connecting with colleagues and gaining advice on anything from handling noisy tenants to performing routine inspections. Be sure to explore these spaces to expand your list of go-to resources.
Property management requires a diverse set of skills, from strong interpersonal abilities to technical and financial expertise. So, whether you are welcoming beginners to your team or upskilling experienced members, giving them access to the right training and resources is essential for them to confidently navigate the complex challenges of their jobs.
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