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Understanding That Managing Residential Rental Property Is a People Business

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Some rental property owners find themselves managing their own properties without even knowing what management requires. Managing the physical aspects of your properties (the buildings and common areas) and keeping track of your income and expenses are fairly straightforward tasks. But many rental property owners’ most difficult lesson is the management of people.

Rental housing management requires you to deal with many more people than you may think. In addition to your tenants, you interact with rental prospects, contractors, vendors, suppliers, neighbors, and government employees. People, not the property, create most rental management problems. An unpredictable aspect always exists in any relationship with people.

As in most businesses, the ability to work with people is one of the most important skills for being a successful property manager. If you enjoy interacting with people and are adept at working with them, you’re off to a good start toward becoming a successful — and likely prosperous — property manager.

Property Management Kit For Dummies

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