Things to remember when hiring the best person to manage your assets

If you happen to own apartments or commercial units that are for lease it is important that you have somebody who can help you take care or look after your properties even if you are not around.  The manager or caretaker should be the person in charge in case the tenants have any concerns about the place. If you happen to be living at a different location which would make it difficult for you to look after your properties then you must go ahead and hire one person.

But before choosing the most qualified candidate for the job you also have to consider the following qualifications and characteristics:

1.) Your property custodian must be trustworthy because that person will be dealing with money that includes accepting security deposits, settling of property taxes and collecting monthly rental fees from your tenants. You have to make sure that this person has no criminal record or any liabilities with the law. It would be a good thing to conduct a background check on your candidates. Call their previous employers and double check their credentials to ensure that you are hiring the right person to handle your business. It’s better to be safe rather than be sorry.

 

2.)The person that you should hire should have a vast knowledgeable about property management. Although it is not really necessary for the candidate to have a college degree but it would definitely be a big plus if you choose to hire someone who is a graduate of property management course so you won’t be spending too much time training the person on what to do on a daily basis.

 

3.)Your soon to be property manager should also have the experience in dealing with different types of tenants and have the ability to handle difficult or challenging situations.  A property manager must be reliable and knowledgeable enough in maintaining the entire property without the constant need to be supervised by you. That person is also responsible in making sure that all tenants are able to pay their rent on time and to look for new occupants in case there is a vacancy by posting various advertisements and answering queries.

Part of the expectations when hiring a custodian is to make sure that all necessary repairs and issues are resolved within the soonest possible time. So it means that he should have a list of companies or vendors to contact in case of emergencies.

If your best candidate was able to meet and pass your criteria then that is the only time that your can star negotiating for rates and commissions.

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