Thousands of real estate investors in Kenya rely on the best property managers to benefit from their business. That calls for more property manager vacancies across the real estate sector.
This blog explains what a property manager is, the skills you need, the process, and the benefits involved in property management.
Once you follow everything in this blog, you'll become a go-to property manager everyone loves to hire.
Keep reading.
Who is a Property Manager, and What Do They Do?
A property manager is a professional who is responsible for the day-to-day management of a property, including its maintenance, repair, and upkeep.
Roles of a property manager in Kenya
Property managers play a vital role in the real estate industry, and their duties can vary depending on the type of property they are managing. For example, residential property managers typically handle smaller properties, such as apartments and condos, while commercial property managers may oversee large office buildings or shopping centers.
Regardless of the property type, a property manager's ultimate goal is to protect the owner's investment and ensure that the property is well-maintained and profitable.
-They handle the financial aspects of property ownership.
-Rent collection.
-Mortgage payments and insurance.
-Taxes.
In some cases, property managers may also be responsible for marketing the property and finding new tenants. Property managers can get tenants through advertising on posts and social media and also by getting connections from their real estate networks.
Good property managers help investors to achieve their investment goals. They will ensure that the apartments are in good condition all the time, making them more attractive to new tenants.
Real estate managers usually have the tangible industry knowledge to enable them to keep the owner's property at trending features in the region. For instance, if the neighboring houses have tiles and ceilings, a property manager should inform the owner to make necessary changes to upgrade.
NB: Upgrading leads to a monthly rental increase due to high-quality.
Qualifications and Skills Required to Be a Property Manager in Kenya
A property manager in Kenya must have specific qualifications and skills to succeed.
As a property manager, you should strongly understand the Kenyan property market. They should know the ins and outs of the market, as well as the current trends.
Secondly, they must be excellent communicators. They will need to be able to communicate effectively with their clients and other property professionals.
Lastly, they must be well-organised and detail-oriented. It is important to keep track of all the different aspects of their job and ensure that everything is running smoothly.
The Process of Becoming a Property Manager in Kenya
In Kenya, the process of becoming a property manager generally involves completing a degree or certificate in business administration, real estate, or a related field.
Many property management firms also require candidates to have several years of experience working in customer service, sales, or another related field.
Some firms may also require candidates to pass a background check and/or drug test. Once hired, property managers typically undergo on-the-job training to learn their firm's specific policies and procedures.
The Benefits of Becoming a Property Manager
There are numerous benefits to becoming a property manager.
-Perhaps the most obvious benefit is the potential to earn a high income. Property managers can earn a very good salary, especially if they are managing multiple properties.
-In addition to a high income, property managers also enjoy other benefits, such as job security and the potential for career advancement.
-Property managers can become successful real estate investors since they have the required knowledge.
-Property managers have the potential to build a strong real estate network that helps in building their portfolio.
-Another benefit of becoming a property manager is that it can be a very rewarding career. Property managers often form strong bonds with their tenants and take great pride in providing them with a safe and comfortable place to live.
-Property managers often use their creativity and problem-solving skills daily, which can be very satisfying.
Conclusion
Overall, becoming a property manager can be a great career choice for those who are looking for a stable job with good earnings potential and the opportunity to make a difference in people's lives.
To become a property manager in Kenya, you must have a strong understanding of the Kenyan property market and its legal and financial aspects.
You will also need to be well-organised and have excellent communication and customer service skills. If you have these skills and qualifications, you will be well-positioned to succeed in this field.
Frequently Asked Questions
How do property managers get paid?
Some real estate investors pay in commissions (a percentage of the rent collected per month), while others pay a constant monthly salary. If the owner pays commission based, you may not earn much if there is a high vacancy rate.
Is being a property manager stressful?
Indeed, this depends on the manager's ability to handle tasks. You can meet with demanding residents, but it depends on how you treat them. Actually, you can create a good rapport with the residents, and they will give you ample time to make their stay comfortable. Something else, if the investor and board members are so demanding, you may have a hard time working as a property manager.
What is the most important role of a real estate manager?
Since real estate investment depends on house occupancy rate to make profits, a good relationship with tenants is important. That's why property managers should do their best to ensure their tenants are comfortable. They should keep the properties as attractive as possible. In addition, solving tenants' issues with ease is a good idea.
What is the property manager's responsibility to the owner?
The property manager is responsible for overseeing all activity in a property. The owner expects timely reports on the status of the property and the tenants. If anything needs repair, the manager should report to the owner immediately. In addition, the property manager will foresee all construction and repairs to ensure they are quality before the owner makes payments.
