Lord help me if I run into another would be property manager who just came fresh from some seminar and thinks they know everything they need to know to run a property successfully. This is not a get rich quick business. This is a customer service relationship business. The faster this notion becomes clear to the property owner or manager, then so much better for everyone involved in the process.
Having some sales experience is always a plus, but customer service is really a critical factor in managing a property. In fact, you do not “manage” the property at all. The property just sits there. What you do “manage” are the agreed upon terms and conditions with the residents, contractor, and property owners needed to keep the property and those relationship healthy.
In Massachusetts, it is not necessary to be a REALTOR or have a Real Estate License to “manage” property. However, if you are going to collect any fees at all from the buying or selling, or any type of “finder’s fee” associated with the transfer of title, then yes, you absolutely need a license.
In my humble opinion, every property manager should know state sanitary code, State building code, lead paint law, mold and abatement procedures and be well-versed in discrimination and fair housing law. That at the least should be a bare minimum and the property manager should be able to quantify receiving training or some certification to display sensitivity to these topics.
Here are a few of the Massachusetts laws, rules, and regulations your property manager should be aware of, and understand to avoid possible problems between tenants and municipalities:
- Tenant/Landlord Law MGL 186 ss15B; 93a; 139 ss19
- Housing Discrimination Law: Title VIII of Civil Rights Amendment of 1968
- Information Protection Act: 201 CMR 17.00 & 93H
- State Sanitary Code 780 CMR
- State Building Code 105 CMR 410
- International Building Code (IBC)
- International Energy Code (IBC energy Code)
- American Disabilities Act
Does your property manager hold any licenses, certifications, or specialized training related to the housing industry? Find out from your manager what associations and affiliations they are members of. There are dozens of Real Estate Investor Associations out there that hold monthly topics with guest speakers all focused on the best practices of Real Estate and rental properties. Do they themselves attend the meetings? These are a great resource for networking to find property managers, tradesmen, contractors, funding, legal, and scores of other resources all to help build your rental business.
Maybe it would be a good idea to tag along with them to a meeting to see how well received they are and how they conduct themselves with other industry professionals, and to expand your network. Are they a leading authority, or a “wishful wannabee”? Either way, you want to make sure you have a property manager who is in the know, well connected in the industry, and actively current in the ever-changing landscape of Real Estate and property management.
Do you have any ideas on this topic you could share to help our online community?
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Warmest regards,
Brian Lucier
Belaire Property Management
Regional Property Manager
(978) 448-0669
info@belaire.co
www.belaire.co
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