A licensed community association manager is responsible for: controlling and disbursing funds, assisting in noticing and conducting meetings, preparing budgets and financial documents, and coordinating maintenance.
The following are the requirements for application to the State of Florida for the Community Licensing Exam:
As a real estate agent, you have the benefit of being your own boss. But, if you are searching for a more traditional employment situation, consider the benefits of becoming a Community Association Manager, or CAM. Obtaining a CAM license is an easy addition to your real estate background.
CAMs usually work in mobile home parks, planned unit developments, homeowners associations, condominiums and timeshares. They oversee the operations of the community, among other tasks, such as:
Obtaining a CAM license is required when an individual receives compensation for management services when the association or associations served contain more than 10 units or have an annual budget or budgets in excess of $100,000.
Having a real estate background before becoming a CAM means you are equipped to handle the challenges that CAM can face, including rental turnover, advertising costs and client control of properties. With more websites available for listing rentals than ever before, in addition to social media commentary on communities, it can be difficult to control perceptions of the community for potential tenants. However, being the CAM in a community means you can use your skillset to ensure day-to-day operations will always run smoothly and change the narrative around the community you work for.
Being a property manager is very demanding. Owners, tenants, maintenance technicians, coworkers … someone is always trying to get a hold of you. You also need to possess many different skills to balance your every day tasks and responsibilities. But being a property manager can also be very rewarding if you don’t let the stress consume you.
To help you on your path to stress-free property management, here are som tips to help make you a more successful property manager.
It’s important to be knowledgeable about each specific property you manage in order to answer any questions potential renters may ask.
Get to know the property to learn about any unique qualities or quirks it has. This helps you provide more information to renters, shows you have actually set foot on the premises, and saves you time by not having to look it up each time.
Knowing about the general area is helpful, as well. This allows you to provide prospective clients with information such as nearby freeway access, shopping centers, restaurants, etc., which in return helps them decide if it’s somewhere they would like to live. Try to avoid more sensitive subjects such as crime rates, school districts, churches, and racial population in the area. Providing information on these topics would be considered illegal steering.
People interested in renting in the area need to do their own research in order to make the best decision for themselves. But knowledge is power and the more knowledge you have in regards to each specific property, the more success you will have when it comes to renting the property and therefore maintaining a good relationship with the owner and/or renter.
Being a dependable person is extremely beneficial to being a successful property manager.
It’s important to respond to phone calls and e-mails in a timely manner. If you are managing numerous properties you will be very busy, but being available when owners and/or tenants need to speak with you is essential. This builds trust within your business relationship and makes your client feel confident that they can rely on you.
You certainly have a life outside of work. There is no need to give out your personal cell phone number. As long as they have your e-mail address and you try to keep yourself available as much as possible during regular business hours, that is enough.
Time management and organization are also a huge part of being dependable. Don’t spread yourself too thin. Make sure you schedule meetings accordingly in order to meet your clients’ needs.
Lastly, a great quality to possess is people skills. You will be working with numerous people and it’s your job to keep them satisfied. Inevitably, you will encounter some unhappy folks. Try your best to give them a positive customer service experience.
Property management is not about being a salesperson; however, you do need to sell owners on your capabilities and spike the interest of prospective tenants in the property. Owners need to be confident that you will be successful in renting their property to a quality tenant. Tenants need to be intrigued by the property. This is where marketing comes in. The Internet is your number one resource to utilize. Many renters use the Internet to hunt for houses/apartments. For Utopia Management, the best websites to advertise listings on are Craigslist, Zillow, and Facebook. Make sure you provide good quality pictures, useful information, and lots of description.
It may sound cliché, but teamwork really does make the dream work. All of the responsibilities that come along with being a property manager are too much for one person to take on. The more resources you have for owners and tenants to utilize, the happier they will be.
One specific system you can use is the tier system: property manager, assistant property manager, and leasing agent. The property manager will handle all owner related and delicate matters. The assistant property manager will be the main point of contact for all existing tenants. The leasing agent will handle all rental inquiries and schedule all property showings. This way, there is a specific person for clients to speak with and issues are resolved a lot quicker. It is also important to have maintenance, accounting, and insurance departments in order to handle specific issues, respectively.
Client satisfaction is your main goal. Happy clients mean more business, and more business means more success!