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:
1st of the Month: Rent is due, move outs from last month handled, turns begin, work orders.
5th of the Month: All rent checks must be entered and deposited.
6th of the Month: Rent is late, late letters go out.
11th of the Month: Evictions filed with Magistrate.
25th of the Month (give or take): Financial Month End Accounting.
Last Day of the 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 / Vendor 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 vendor?
- Questions not to answer at any apartment community… “What kind of people live here?” And “How safe is it here, ya think?”
- Target List
- Market Analysis/Survey
- Agent vs. Owner
- Lease Expirations
- Rental Agreement/ Lease
- Security Deposit
- Garden (Ranch) vs Townhome
- Closing Ratio
- Secret Shopper
Residents vs. Tenants
- Community vs. Complex
- Traffic vs leases
- Vacancy Loss
- Curb Appeal
- NAA Designations- CAM, NALP, CAPS, CAMT