A Day in the Life of a Property Manager

A day in the life of a Property Manager 

Learning their business so that you can better serve them

The Calendar Cycle:

1^st of the Month:  Rent is due, move outs from last month handled, turns begin, work orders.

5^th of the Month:  All rent checks must be entered and deposited.

6^th of the Month:  Rent is late, late letters go out.

11^th of the Month:  Evictions filed with Magistrate.

25^th of the Month (give or take):  Financial Month End Accounting.

All month:  Move Outs.

Typical Position Titles:

• Property Manager, Business Manager, Site Manager, General Manager
• Regional Manager, District Manager, Area Director
• Assistant Manager, Bookkeeper, Market Manager, Leasing Manager
• Leasing Consultant (or Agent), Marketing Specialist, Relocation Specialist
• Maintenance Supervisor, Service Manager
• Maintenance Technician, Service Assistant
• Groundskeeper, Porter, Caretaker

Notes on Bids:

• Most sites require 3 bids sometimes they are for immediate projects and sometimes it could be a deferred maintenance item or new budget year items.
• Property Managers provide a scope / Supplier Members ask for a scope to speed up the process and eliminate extra work/pricing
• Bids and proposals sometimes require tiered approval, owner approval, or bank/mortgage approval.  Patience may be needed the higher the dollar amount.

Fair Housing Notes:

• Protected classes- Race, color,religion, sex, handicap, familial status, national origin.
• Common mistakes
• How does this affect you as a supplier?
• Questions not to answer at any apartment community… “What kind of people live here?”  And “How safe is it here, ya think?”

 Correct Terminology:

• Model
• Target List
• Make-Readys
• Market Analysis/Survey
• Agent vs. Owner
• Lease Expirations
• Rental Agreement/ Lease
• Security Deposit
• Garden (Ranch) vs Townhome
• Closing Ratio
• Secret Shopper
• Units
  Residents vs. Tenants
• Community vs. Complex
• NOI
• Traffic vs leases
• Prospect
• Availability
• Vacancy Loss
• Occupancy
• Curb Appeal
• Amenities
• NAA Designations- CAM, CALP, CAPS, CAMT