The search for the right property managers is a task of utmost importance not only to a real estate property owner but also for a tenant looking to rent a property. Over the years, property management in Kenya has evolved from merely collecting rent, preparing lease documents and dealing with evictions to adopting more serious tasks such as people and asset management as part of its duty.
As an investor or property owner, the question whether a property manager will be able to care for your property as well as you brings the greatest hesitation to hiring a property manager. It is quite difficult to guarantee that a company or agency will be suitable for your property. However, it is possible to carry out screening for a number of important traits that reliable real estate managers commonly have.
Here are a number of traits you should be looking for.
- Legal licenses and certificates
First things first, you must ensure that the company you are dealing with is legally recognized and registered. Real estate agents and property managers in Kenya are required by law under the Estate Agents act, to be registered by the Estate Agents Registration Board (EARB) and they should be issued with a certificate of registration by the board. The EARB is the regulatory body for estate agency practice in Kenya and it derives its mandate from Estate Agents Act.
This one is outright obvious. A good property management agency or company is one that has a vast of experience dealing with different types or real estate for a long enough period of time. With experience comes a thorough understanding of local real estate laws, regulations, and standard operating procedures and this is exactly what you want for a real estate manager. Here at Havilaplus estates, for instance, we have been in the real estate industry offering property/asset management, sales and letting, feasibility studies, rental surveys, service charge and facility management for over 7 years giving us a holistic experience in real estate in Kenya.
- Investor or co-owner mindset
The sole purpose of this screening process is to identify managers who will manage your property as though it were theirs. This is only possible if the manager has an investor or co-owner mindset. A manager with this mindset will see the “bigger picture”. They will be able to make important business decisions such as when to offer rent concessions and what to spend money on with a view of maximizing your profits.
- Qualified staff
A company or agency is only as good and competent as its workforce .Remember, theses are the people who will be dealing with your tenants directly. Ensure that the staff working in the company is well trained in communication and problem solving skills, leases, property management laws and overseeing property resources.
Dealing with various kinds of tenants can be a hurdle. This requires the managers to be patient at times and aggressive at others while still retaining a level of professionalism. Professionalism goes beyond just communication. It also requires them to be well organized in delivery of their portfolio of services, they should be up to date with the real estate technological trends as well as being flexible and ready to handle any emergencies.
The manager should be having frequent communication with your tenants always taking into consideration the needs of tenants. Tenants are always keen on reaching out to property managers who keep their lines of communication open.
Having said that, if you are looking for real estate agents and property managers to manage your rental property or you are an aspiring tenant looking for agents with the best deals in the market and the best service delivery:
Call us, Havilaplus estates Limited, on 0795 524 750 / 0795 524 749.
Or visit our main office today at Mbugua Plaza, 1st Floor, Naivasha Road, next to Equity Bank.
You can as well click here for more information.