A property manager is a term that is starting to catch a lot of attention in Pakistan given the real estate market’s rising popularity. A real estate manager can really help you gain control of your time by maintaining your property. Those that are looking to sell their property are plagued by the question; How to hire a property manager in Pakistan?
Graana.com, Pakistan’s Smartest Property Portal is here to help you hire a property manager in Pakistan by highlighting the important aspects to keep in mind.
What is a Property Manager?
A property manager is a third-party person or firm that helps you manage your property by overseeing the maintenance of the property.. A property manager can be a single person or a whole firm that handles everything from rent collection to marketing. Though this list highlights the things that a property manager can offer.
- Rent Collection
- Screening Potential Tenants
- Repairing and Maintaining a Property
- Negotiate Lease Agreements
What to look for in a property manager
A property manager maintains your life’s work and it is important that you choose a competent person for the job. There is no qualification or certificate that can help reassure you, So you will have to rely on research and instinct while making your decision. The best advice to manage your properties is to first gain valuable insight into how to manage your property effectively. This makes it easier to identify what a property manager is doing wrong.
In Pakistan, it is pertinent to get references as good property managers are a dime a dozen. The right references can solidify a reputation. It is also a measure of competence given the number of successful projects that the manager has managed or is managing. It is always better to hire someone who has had a positive history rather than hiring someone with low experience.
Number of properties being managed
The number of properties that a property manager actively manages is a pertinent question to ask. While a large number of properties means that a property manager is successful, it also means that he does not have enough time to give your property exclusively. The more successful a property manager is the quicker he has his time bought so it is always better to jump in on an opportunity early.
Chances are, if you’re hiring a property manager then you’re either busy or live farther away from the property to manage it effectively. It is essential for a successful property manager to have good communication skills to prevent mishaps due to miscommunication.
You should also make sure to clearly communicate your expectations of the manager regarding the property to make sure that you both are crystal clear on the details. Some property managers charge a flat rate while others charge a percentage of the rent.
It is very important that you list down your expectations for the position and ask any important questions that you have before hiring a property manager. These questions include but are not limited to the following:-
- How many properties does the property manager manage actively
- What is his inspection routine like
- Ask him what your expectations are from him
- How does he charge for his services
A property manager can be a great investment that can free up your time for more important tasks. You can make time for your friends, family and other business ventures. There is no absolute answer to whether hiring a property manager is for you or not, however, there are some people that love the hands-on experience of managing their property and maintaining tight control. There are some people who, on the other hand, are willing to sublet these menial tasks.
Graana.com, Pakistan’s Smartest Property Portal, has listed some important aspects to consider while looking for a property manager to help make this decision more easily.