Property Management – New Beginning or Maybe Not
For the vast majority of my working life I had worked as a qualified Financial Planner; sometimes employed and sometimes self- employed. Financial Planning is a highly regulated occupation where you need to pass numerous exams to obtain your licence, and then take tests each year to keep up to date with current regulations.
I thoroughly enjoyed this work, and many of my clients were with me for many years and some became personal friends and remain so now.
I dealt with all aspects of my clients’ financial life including their mortgage, life assurance, pensions, and investments. It was rewarding to see them grow from the early stages of financial life to being secure later in life.
Some of you will not remember the “Insurance Man” who knocked on the door each week to collect a couple of pennies for a policy. That`s how I started, and I remember how nervous I was the very first time I was asked to take a cheque to a client`s house as her husband had passed away and the policy had paid out.
I knocked on the door dreading it being opened but I was invited in with the family and sat down with a cup of tea. I later summoned up the courage to say to the client how I felt that day, and she said I was welcomed because I was the only person who knocked with a cheque. All the others, the funeral directors, the solicitor, the flower shop etc all asked her for money.
I started to realise that I was quite proud to do the job I was doing and had pleasure in telling people what I did. I was providing a service and could see the benefits of the service.
Coming into Property Management was a complete change, or was it?
The concept of looking after properties was frightening as no one can accuse me of having the slightest idea of DIY. I always thought this meant Destroy it Yourself. However, Property Managers are highly qualified professionals and are also tested regularly to keep up with current regulations. I have learnt new things such as Water Hygiene and First Aid, and indeed one of the highlights was being invited to bash my daughter on the back as if she was choking. It made it all worthwhile.
Mainly, they are there to provide a service to their clients. A little like a football referee, the less you see of them it is thought the better game they have had. When things are going well and there are no problems at the property, the Property Manager is rarely noticed, but when there is a problem, they are regarded as one of the most important people around.
The Property Manager is called by the leaseholder and tenant when there is a leak or a blocked drain etc, and it needs to be dealt with quickly. Very similar to my earlier occupation there is a pleasure and reward for resolving these problems and receiving the thanks of the client. Of course, there are frustrations and things can go wrong, but the important thing is how those wrongs are put right and resolved.
The main point is to be proud of what you do and take the pride in how well you do the job. Every job that is done is for the benefit of someone, and although it is not always appreciated, when you get that Thank You it makes it all worthwhile.
Town & City Management Limited