Becoming a property developer is one of the biggest decisions in your professional life, and it’s definitely not a simple one.
Becoming a property developer is one of the biggest decisions in your professional life, and it’s definitely not a simple one. There are a lot of things to think about, and one of them is whether you want to do everything on your own or hire a good property manager to help you. Of course, there are advantages to both options, but hiring a project manager would give you more freedom to focus on other tasks – and more time to spend with your friends and family. With that in mind, here are a few tips that should help you find a good one.
Be clear on your goals
First things first, you need to be very clear on what it is that you expect from your project manager. You should also know how long the project might take, and you should have a set budget for it. In short, it is true that the largest part of planning is your manager’s job, but in order for them to do their job right, you have to provide them with all the information you have. Moreover, actually doing so helps you as well, because it shows you who can organize right away and who might get tangled in all the details.
Pay attention to the reputation
Even though word of mouth goes a long way, once you do have a few potential names, you want to do some research too. If a project manager that you have in mind works for a reputable firm, you should check out the firm’s website, as they probably share values and goals. Moreover, this also gives you a chance to browse through previous reviews and comments from other clients. If most of the reviews are positive, the manager is more likely to do quality work for you as well. Of course, you can always ask them for references directly, but in general, when it comes to reviews and comments, social media is your friend.
Look for somebody with experience
As important as reputation is, you also want somebody with experience – and not just any kind of experience. You should look for somebody who’s project management services are flexible in order to successfully deliver any form of deal within the urban development and construction. Plus, it’s not just about how long they’ve been in business – it’s also about how well they know the construction market, vendors, resources, and all the other little details and current trends that can help you save money and time. It’s also a good idea to look for somebody who works locally and is well familiar with the industry in your city and country.
Don’t neglect the financial part
Your project manager fees should depend on the size of the project, but this shouldn’t scare you. The thing is, a good project manager should be able to save you more money on the total costs than what their project management services and tasks would cost you. Therefore, you should look for a manager that actually knows how to do that. There are also more than a few ways of paying them – monthly, per percent, per square foot, etc. This is something you should agree on before you start working together. In short, you want a manager who knows how to handle finances, so you know that they will be worth every penny.
Now, this goes without saying, but it’s too important to be left out – you should look for somebody with good communication skills. After all, they will be using those skills every day, with vendors, coworkers, delivery crew, and all the other people that will be working on your project with you. Therefore, you want to hire somebody who knows how to communicate clearly and respectfully. Moreover, you want somebody who knows how to communicate with you. For example, if you want to be kept informed on everything that is going on with your project, you probably don’t want somebody who remembers to update you once a week. So, keep this in mind as well, and pay attention to their communication style when interviewing them.
Finding a good project manager is essential for the success of your entire property project. Therefore, this isn’t a decision that you should rush – take your time exploring your options, reviewing potential managers, talking to them, etc. In other words, start looking for a project manager as soon as you realize that you need it, and you’re more likely to find one that will ensure the success of your project.