#Property Management

Are You Cut Out To Be A Property Manager? Ask Yourself These 3 Questions And Find Out

Written By
Adam on Nov 22, 2021
Some people – not many – are born to be property managers. If you’re one of them, you should go for it. But if you aren’t sure you are, these three simple questions can tell if you should take the plunge.

We’ve all heard the phrase “Know thyself.” It’s an ancient Greek aphorism – worthy of its own Wikipedia page – and was inscribed in the entry to the Temple of Apollo at Delphi.
We also know that while it’s a worthy ambition, it is not that easy to know ourselves. Indeed sometimes the process of self-discovery can generate levels of self-awareness that make us uncomfortable.
You might be wondering, “Why in the world is a company that exists to take the property management burden off homeowners taking you down this philosophy rabbit hole?” 
The reason is more intuitive than you think.
We’ll back up for a moment and explain. At Belong we know that many homeowners have decided to manage their properties themselves, and that others who have recently become homeowners are deciding whether “self-management” is the right decision for them.

We’re here to help.
If, after a thoughtful analysis of the pros and cons of self-management, you decide to take the plunge, we’re fine with that (though we’d love to have you in our family).  But there are many, many complexities involved with managing your own property; we’ve covered some of them in previous blog posts .
There’s more to it than that, though.
Beyond the responsibilities you will have to assume if you manage your own property, there is an emotional component as well. In other words, you’ve got to be prepared for the day-to-day requirements of the role, which is why we began the post with those words from the Temple of Apollo. 
In that spirit, herewith are some questions to pose to yourself, the answers to which will help you ascertain whether self-management is right for you.
You own a home.
We have someone to ❤️  it.
Question Number One: How Do You Handle Stress?

There is no denying that taking care of every aspect of your property ratchets up one’s stress levels. The pressure ranges from what happens when the rent isn’t paid on time – which is often a reality –  to what happens if the washing machine hose breaks and the basement is flooded.  Or the furnace stops working on the coldest day of the year.
It’s bad enough if a crisis happens when nearby, but what happens if bad news strikes at the worst possible time (as it usually does) like when you’re on vacation? 
Some people can deal with all that, and take it in stride. But if you don’t have particularly well-developed coping mechanisms, you might want to consider Belong, where we take all those responsibilities off your plate. 
We can guarantee the rent , and also provide on-demand contractor services on the highest order, with our Belong Pros .

Question Number Two: How Structured and Organized Are You?

So be honest – are you disciplined and rigorous about record keeping? Can you quickly lay your hands on receipts and warranties? Or is a shoebox your idea of what a filing system should look like?
We ask that question because managing your own property involves tons of record-keeping.  Everything from the initial applications, to the credit checks, to the lease, to repairs and maintenance, all need to be maintained in an organized fashion.   You’ll need it for the day-to-day management of your property; in case there are any legal issues along the way that require substantiation; and of course, for the preparation of your tax returns.
For some, that’s second nature, but for others it’s a challenge. Belong doesn’t just maintain those records for you, but they are part of your digital account with us, and are instantly accessible. 

Question Number Three: How Important Is Your Free Time?

Even you can deal with stress and are so organized that Marie Kondo would be jealous, the inescapable truth is that managing property takes time. We hear that constantly. There are always unexpected things that come up, which are likely to require time and effort to research and manage. For example, you might not know how to get a raccoon out of the attic, and tracking down the local wildlife control agency is a job-and-a-half.
Your free time is valuable and worthy of protection; whether you’re working or retired, there’s a good chance that you want to spend whatever disposable time you have on the activities that matter to you.
So there you have it. 
If you’re totally honest with yourself, and property management is for you, then we wish you the best of luck. Our Belong blog, of course, is always available, and we have lots of valuable content here. Help yourself!
But if you’ve come to realize that you are not wired for property management, then we invite you to check out the people who are. That’s us. Yes, there’s a fee involved but if you check them out they are probably less than you expect.  And we can tell you that the homeowners in the Belong community feel that it is an investment that pays for itself, day in and day out.
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About the author
Adam Hanft
Editor in Chief
Adam is a futurist - co-author of "Dictionary of the Future" - brand strategist, public-company board member, former comedy-writer (but he hasn't stopped being vaguely amusing), and an investor in Belong.