What makes a good property manager?

What is a property manager?

In Missouri, property managers oversee the day-to-day operations of condominiums, homeowners associations (HOAs), and other residential communities. Their role is to help board members manage vendors, budget expenses, plan capital improvements, and communicate effectively with homeowners. Knowing what makes a good property manager can help your community support a high standard of service across all areas.

Key responsibilities of a property manager include:

• Administrative support: Scheduling meetings, preparing agendas and minutes, and maintaining records.
   
• Vendor coordination: Managing contracts, supervising vendor performance, and handling routine maintenance.
   
• Financial management: Assisting with budgeting, reviewing financial statements, and supporting dues collection.
   
• Resident communication: Addressing questions and concerns, sending updates, and acting as a liaison between residents and the board. At FirstService Residential, our 24/7 Customer Care team offers consistent, round-the-clock support to help residents get answers when they need them.
   
• Governance support: Helping enforce community rules while complying with Missouri condo and HOA laws, supporting architectural review processes, and advising board members on compliance matters.
   
• Technology: Leveraging tools that streamline communication and operations. Our FirstService Residential Connect™ platform gives residents and board members access to important documents, payments, updates, and service requests, all in one place.

This article is not intended to and does not constitute legal advice or create an attorney-client relationship. Board members should consult their association’s attorney to discuss the legal implications of their decisions or actions prior to proceeding.
 

What makes a good property manager in Missouri?

While every community has its own unique needs, and every residential management company has a unique way of serving them, there are a handful of qualities that any great company should have — if they don’t, steer clear.

Here is an easy checklist of the top qualities to look for in a full-service property management company:

1. Financial stewardship

   Look for a residential management company with an internal financial management team led by certified accountants. The best management companies will follow rigorous internal review and accounting protocols to promote financial health and stability of your association.
    

2. Vendor relationships

   A property management company that has strong, long-held partnerships with quality service providers can often negotiate savings such as discounts on community purchases and lower rates on regular maintenance, while still maintaining a superior level of service.
    

3. Communication

   Weak communication is one of the most often complained about qualities in property management. Look for companies with a 24/7 Customer Care team and other forms of technology that allow you to communicate with a professional who can answer your questions or respond to your requests in a timely fashion.
    

4. Attention to detail

   From your property itself to the people who live in it, the right residential management company will provide you with a manager that pays great attention to detail. You probably know the unique features and eccentricities of your community — a property manager who asks about them and seeks to understand what makes your property tick will be able to provide you with the best service.
    

5. Responsiveness

   There are a variety of issues that may arise in a community association and it is nice to have a management company with the know-how to steer you in the right direction. Great property managers take the time to truly understand daily life in the communities and buildings they serve. They are ready and well prepared to respond to issues that arise.
    

6. Commitment to training

   Expert property management and exceptional customer service can only be provided by a knowledgeable, unified and superbly trained team. Look for property management companies that are committed to providing continual educational and development programs for their managers, including hands-on training, classroom learning, and online training systems. This way, your manager will be on the cutting edge of industry and product knowledge, and equipped to deliver the highest levels of service to board members and residents.
    

7. Transparency

   It is also important that your residential property management company operates under full transparency. The company should be able to provide you with disclosure on any affiliated companies it does business with. You should also ask this company about their financial controls and if they are subject to Sarbanes-Oxley. Another valuable asset, which your property management company should provide to its associates, is an internal ethics hotline in order to report and record unethical activities. Transparency and ethics are often overlooked but essential parts of what makes a good property manager.
    

8. Focus on sustainability

   A company that is committed to going “green” will help reduce your community’s carbon footprint, energy usage, and operating costs to create a healthier (and more cost-efficient) living environment. If a property management team has LEED accredited professionals on staff, it is a good sign that they are focused on sustainability.
    

9. Accountability

   Great residential management companies should not rest on their achievements. They should be open-minded, collaborative, and continuously looking to improve their service offerings and customer service. Ask if your company will obtain candid board member feedback on a regular basis about how they are performing — and whether they will take action as a result of that feedback to become even better at providing your community with the best service.
    

10. Ability to listen

    It may seem basic, but it is essential — and often a fault of many highly-experienced property management companies. Some companies may assume that just because they have been in the business for years, they already know exactly what your community needs. A company with the ability to really listen and collaborate with your board will be able to customize their full-service association management solutions and value-added services to meet your needs, achieve your goals and realize your community vision.

How to become a property manager in Missouri

Step 1: Decide what type of properties you want to manage

Before starting, it’s important to know whether you want to manage rental properties, community associations like HOAs and condos, or both. In Missouri, licensing requirements can differ depending on the services you plan to provide. If you’re handling leasing, rent collection, or tenant placement, you’ll likely need a real estate license. If you're managing the operations of a condo or HOA — supporting the board, coordinating vendors, and helping with budgets — you may not need a license, but certifications are often expected. If you're aiming to break into the field, understanding what makes a good property manager from the start can shape your training and career path.
 

Step 2: Complete any required education

If your goal is to manage rental properties, Missouri law requires you to complete real estate coursework. If you’re focused on community association management, there’s no state-mandated education, but many professionals pursue industry certifications to build credibility. The Certified Manager of Community Associations (CMCA) credential is a common starting point.
 

Step 3: Pass the Missouri real estate licensing exam (if applicable)

To legally manage rentals in Missouri, you must pass the state licensing exam through the Missouri Real Estate Commission (MREC). If you’re managing associations and not conducting leasing or sales, you may not need this license. Still, passing industry certification exams like the CMCA can help you grow your career and build trust with boards and residents.
 

Step 4: Gain experience in property or community management

Whether you’re managing tenants or serving a board, real-world experience is key. Many property managers start out as assistants, maintenance coordinators, or administrative staff before stepping into a lead role. Volunteering with a local HOA board or working for a management company can also help build your knowledge.
 

Step 5: Consider advanced certifications

For those managing HOAs and condos, certifications like the Association Management Specialist (AMS) and Professional Community Association Manager (PCAM) from Community Associations Institute (CAI) demonstrate deeper knowledge and can help open doors to larger communities. For those in rental management, continuing education in landlord-tenant law, fair housing, and budgeting can sharpen your skills and make you more valuable to owners or investors.

If you are currently searching for the best property management company for your community, or are unhappy with your current residential management company and want to explore your options, see how FirstService Residential can best serve you by contacting a member of our team today.