When acting as the prime or general contractor, what is essential for a property manager?

When acting as the prime or general contractor, it is essential for a property manager to possess knowledge of construction to effectively supervise different trades. This understanding enables the property manager to ensure that work is done correctly, assess whether contractors are meeting their obligations, and ensure that all projects adhere to relevant building codes and regulations. Knowledge of construction processes and terminology allows the manager to communicate effectively with subcontractors and to make informed decisions regarding project timelines, quality of work, and cost management.

In the context of property management, while extensive legal training, experience in financial management, and expertise in marketing strategies may all be beneficial, they do not directly relate to the day-to-day responsibilities involved in overseeing construction projects. The ability to interface with various trades, coordinate schedules, and identify potential issues in the construction phase is crucial for a successful outcome. This specialized knowledge ensures that the property is maintained to a high standard, which can help preserve its value and ensure tenant satisfaction.