As jugglers of multiple and oftentimes complex tasks, property managers must be adept at mediating between board members and unit owners, as well as resolving all manner of maintenance and legal issues. To this end, property managers don’t have 'typical' days, but rather varied and challenging ones that are often complicated, and require a particular skill set to navigate.
“The property manager for any asset type is mainly to make sure that every property is running smoothly and achieving the goals and purposes of the owners, client or investor,” says Alfred Ojejinmi, president and CEO of the East Brunswick-based Presbeuo Group Inc. “The manager is the captain of the ship and must know everything regarding the property such as physical, functional, social, fiscal, operations and governance.”
While the size of the property dictates the involvement and responsibilities of a property manager, the day-to-day operations must be held in check in order to ensure smooth sailing. For many seasoned property managers, the ability to handle any given situation that arises is a welcome challenge.
“All managers need great interpersonal skills, because you have to be able to handle any crisis that comes up,” says Lawrence Sauer, a managing partner at the Freehold-based Association Advisors, which oversees approximately 50 properties. “With this job, each day is different—really no day is the same, and that is the reason I love it.”
The Juggling Act
In order to do their respective job well, managers require a wide array of both concrete skills and specific personality traits. In the end, it is the board that ultimately trusts the property manager to make the right call regardless of the situation.