How Well Do Owners Work With Property Managers?

Property managers are focused on driving value in apartment buildings through tenant retention and tenant services, and in this booming market, property owners are looking for management companies that will take the reigns. However, property owners have different needs and end goals, and want to partner with property managers to create a co-strategy.

“Property owners hire a property management company to manage every aspect of their multifamily investment and this often includes creating and executing a successful resident retention strategy for their community,” Debbie D. Willis, president and designated broker for P.B. Bell, tells GlobeSt.com. “Some property owners are very hands on and want to be a part of creating the strategy, while others would rather their management company take the lead.”

Whether property managers have a more hands on or hands off client, they are always focused on meeting tenant needs as a way to ultimately drive value at the property. “It’s the ability to adapt to the wants and needs of both types of owners in which you’ll find success,” explains Willis. “Property owners expect you to take great care of their property, and ultimately, that means taking care of the residents within the community as well.”