Real estate management is a career profession and is booming in every corner of the world. Property management firm works either directly for the owner of real estate properties or works for a real estate management firm.
These are the qualities that define a good Seattle property management firm.
Reliable and ethical
Property management firm needs to work on a code of honor while they deal with other people’s trust and money. While collecting rent, laundry machine money, maintenance charges, security deposits, etc., the managers should maintain a fiduciary relationship with the property owner. While the owner entrusts his money and property, the manager must be honest with these. The property management firm must perform at the highest level of integrity.
Local ordinances and state laws
There are separate land laws in Seattle just like any place or country. The government usually decides on how the real estate is to be managed. The property management firm needs to stay updated with the legal requirements of managing real estate so that he or she can take the right decision and correct action whenever required.
Organized and detail oriented
The property management firm, while collecting rent, must also ensure that the rent is paid and updated in the tenant’s account as Received. The property management firm should maintain financial records with details of each and every transaction. Also, it is property management firm duty to remind the tenants about the rent increase, lease renewals, lease expirations, etc. In short, the property management firm must be able to multi-task based on priorities.
In today’s date, property management firm should have computer competency along with other technical skills like typing, driving, etc. The methods of mail merging, emailing and faxing need computer knowledge
The property management firm must have good communication skills as they have to deal with people coming from all walks of life and all corners of the world. Hence, the property management firm must be able to document their cases in front of judges, negotiate with vendors, and talk to owners and tenants even when they are in bad state of mood. They should always deal with their clients in a professional manner.
The property management firm must have a flexible mind as this is a volatile profession. They should have the ability to accept changes of law and have positive and unbiased attitude, obey fair housing laws, etc. They should not mistreat tenants.
Hence, hire a property management firm in Seattle that will completely understand the priorities and interests of the homeowners, landlords or home sellers.