3 R’s of Property Management

August 5, 2021by melissad0

The 3 R’s of property management are report, recommend and/or request. The title property manager means something different to every person. Many expect a property manager to know all and do all. Some even consider us a personal assistant-funny but true! To be frank, the job is too big for the title, but more on this in another blog. Property managers must rely on their Owner clients, renter customers, and supplier partners to support the long terms goals of each property. Thus, we offer the 3 R’s of property management:

The first and most common R is “Report

This can be in the form of a resident submitting a maintenance request for something. A leaky toilet, or overgrown landscaping. The residents are often our eyes and ears at the properties. We need them to be active team members in this process, reporting but also allowing access for work to be done. We can only do more when we know. An item that is reported, however, is not always guaranteed to be taken care of, but it helps lead us to the next R.

The second R is “Recommend

Typically, as managers we will recommend work or upgrades based on what we see at the annual assessment or what is reported by either the resident or supplier. Now, you will notice we do not call it an inspection. Why? Frankly, we are not trained or certified inspectors. That is a separate industry and skill set that we simply do not have. Many owners and residents believe that we should be “inspecting” their home. That is just not something that is covered in general property management. Our job is to make sure the resident is not damaging the home. If you want an official inspection for preventative maintenance, then you need to request it. Which brings up the final R.

The third R is “Request

This one is usually brought to our attention by the owner. Perhaps they recently upgraded or performed annual maintenance at their own home and want to do the same at the rental property. Or they saw something in the news that triggered them to ask for something. Or they visited the property and have requests. Owners should be active in requesting maintenance items or estimates but should be prepared to act.

Property Management

As property managers we can recommend maintenance until we are blue in the face. Majority of the time, owners decline any recommendation. So, at some point, we only recommend when we really believe something could be a problem. If we recommended every time a resident requested, or a supplier tried to up sell we would lose clients left and right. We are here to support and make things happen, but push come to shove it is the owners property.

The point here is that when it comes to property management it is a team effort. Property managers do not have some crystal ball that tells us when a toilet will leak, or that the wood is infested with termites. We rely on the 3 R’s. This requires the active participation of residents reporting, suppliers recommending, and owners requesting work to be done on their rental property.

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