The demand for property managers is only expected to increase 6 percent between the years 2010 and 2020. This job growth rate is much slower than the average 14 percent increase in other industries. If you intend to land one of these 18,400 new jobs, it is important to learn what your day-to-day job responsibilities will entail. To be a successful apartment manager, you need effective customer service skills, as well as leadership and administrative abilities.
In some cases, an apartment manager may work solo. However, if she has a lot of units to manage, she often hires leasing agents to assist her. When hiring leasing agents, the apartment manager investigates to ensure that an individual is qualified to fill the position. This investigation includes interviews, verifying employment history, conducting background checks and verifying agent credentials.
Attract Tenant Candidates
The apartment manager is responsible for keeping all of her apartment units filled. She researches current market data to determine the cost of similar rentals in the neighborhood. As a result of getting this data, she sets a rental price for her units. The manager is responsible for advertising vacant units. She may elect to offer monthly move-in specials to attract new tenants or discounts to retain current tenants. She may also develop a referral program that rewards current tenants for referring interested renters.
Screening Tenants and Evictions
The apartment manager is responsible for screening a tenant candidate to ensure he is qualified to rent a unit. This screening includes performing a credit check, verifying employment and verifying that the tenant has enough income to comfortably pay his rent. By screening tenants upfront, the apartment manager minimizes the risk of financial loss. If a current tenant fails to pay rent, the apartment manager is responsible for collecting the outstanding balance or initiating eviction proceedings through the local court system.
Tenant Complaints and Unit Maintenance
Tenants are customers. No customers, no business. As such, anytime a tenant has a concern or complaint, management is responsible for investigating and resolving the situation. If a unit is in need of repairs, the apartment manager is responsible for handling the repair. In many cases the manager has maintenance personnel on site to perform these repairs. If the apartment complex experiences an increase in crime rates, the manager may hire security officers to patrol the complex.
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