“Property Management Is Not For Everyone”

My name is Jim Bolduc and I reside in Brentwood, New Hampshire. I have been involved in the real estate industry for over 30 years. I can tell you first hand that property management is definitely not for everyone! If you are an inflexible person you will not like property management. As a property manager you will find yourself in many unsettling situations. You will have to dig deep within yourself to work out some difficult situations.

I have seen many aspects of residential and commercial property management. You have your tenants that are easy to get along with and then of course you have at least 10% that are difficult. The tenants that follow the rules make the job so much easier. It is one thing to deal with people that you enjoy versus those that can make your job difficult.

It definitely is a people business. If you are a people person this business can be very rewarding. You find yourself becoming close friends with a lot of your tenants. There is nothing more rewarding then to call a tenant a good friend. They will share a lot of their personal information with you and be very open with you. You need to know if they are employed or not or whether they have enough money to make the first month’s rental payment and the security deposit.

Where you locate your office is important. In these days of “virtual” offices you can run businesses from anywhere. However; in the property management business you want to have your office near where you are managing property. Many tenants like to come to your office and drop off their rent. Sub-contractors you deal with like to have you nearby. Some property managers locate their offices in the buildings they are managing, especially for larger apartment or commercial properties.

Just think of the variety of issues that a property manager has to handle. Everything from a small plumbing problem to a large issue like a leaking boiler is the manager’s responsibility. You will get calls from tenants for every kind of maintenance issue you can think of to be sure. From fixing their burner on their electric stove to fixing a loose door handle.

Although property management can be very demanding and challenging, I have found it can be rewarding.