As professionals, some qualities are the same across the board, but luxury property managers need to have a few more in keeping with the stature of the property they deal with. Luxury properties tend to need more care and attention than standard residential properties. As a result, the property managers of these types of real estate need to display a different set of skills altogether.
Understanding the Market Dynamics.
A full and complete understanding of the luxury market dynamics, including and not limited to the clientele and their preferences, is essential. Managing luxury properties requires deep knowledge of vastly different metrics compared to residential property management. There is a need to be very proactive and display exceptional customer service.
Delivering Concierge – Level Services.
The way a property manager treats their clients is also reflected in how they manage the property. Luxury Property Managers must deliver concierge-level services and follow up in a timely manner with comprehensive solutions taken all the way to their full conclusion. Also, good property managers know how to manage their clients, particularly if they are being overly demanding while always maintaining the relationship.
Organization and Attentiveness.
A luxury property manager needs to be attentive and organized to succeed and meet the expectations of their clients. Unlike residential properties where you are dealing with turnover in tenancy, luxury properties are usually maintained in tip-top shape for the enjoyment and use of the owner. As such, it must be ready at a moment’s notice.
Attention to Detail.
Managing a luxury home requires very sharp attention to detail. These clients are willing to spend more money, but will also expect a higher level of service, and a property that is in great shape.
Emotional Intelligence.
Emotional Intelligence is the No.1 thing a successful manager of luxury properties must possess. It’s not just property management; its money management and trust management at the luxury level.
A People- First Mindset.
A people-first mindset is critical when managing luxury properties. These clients are paying for quality across the board, including customer service, Management needs to serve as a concierge or liaison between the client and the property. They expect 5-star service as they would a luxury hotel.
Trustworthiness.
To be successful, luxury property managers must have personal relationships with owners based on consistency and a real ability to listen well to the little things.
Communication and Transparency.
Most rich and ultra-rich clients approach their properties like any part of their business portfolio. This means they expect high-level communication and transparency throughout the process. After all, their properties are more than a home – they are a huge asset.
Luxury Residential Property Management.
Are you looking for a team who you can trust to look after your luxury residential property year-round? As Miami’s premier residential property management company, we can provide the first-class care your home requires.
We have a residence management team that is here to cater to your every need. Our mission at Luxury Residential Management is to give you the peace of mind that your property is always exactly as you want it—such as what temperature you want the AC to be set at upon your arrival, providing fresh cut flowers if you desire, or simply making sure that your Wi-Fi works. We excel at capturing even the tiniest of details.
