Home » UpMarket

Property Management Lessons from Matt Damon

katiehawkes by katiehawkes

Property Management Lessons from Matt Damon

If you haven't seen Matt Damon's latest film, We Bought a Zoo, here's the basic gist: Widowed father, aka Matt Damon, struggles to raise precocious young daughter and angsty teenage son. Matt Damon gets hit on by every single female in the city. Matt Damon wants fresh start. Matt Damon finds perfect old house in remote location. Matt Damon discovers that the property is, in fact, a dilapidated zoo. Matt Damon says many inspirational things, bonds with zoo staff, slowly repairs estranged relationship with son, dominates zoo maintenance, finally copes with losing his wife and, in the end, finds love again.

Sorry to ruin that one for you, if you haven't seen it. It's obvious this movie is replete with elements screaming to be analogized and applied. Today we're skimming over the other choices and settling on the whole "buying a zoo" thing. We know you're dying to know: property management lessons from Matt Damon.

Find exactly what you want.

Before he found his animal paradise, the movie depicts Matt Damon looking at multiple properties. When he found the house he ultimately chose, it was love at first sight. If you're looking for a property to manage or rent, make sure you're getting what you want. Avoid rushing into a decision by starting your search early, before the deadline of an expiring lease is pressuring you to make a hurried choice. If you don't love your property, you're going to resent dealing with any inevitable issues or repairs that you encounter. As a property manager, you want to make sure prospective tenants are happy with the properties before they sign a lease -- if not, you're likely to have a more difficult time negotiating with them and keeping them long-term.

Commit to it.

If you sign a lease, you're pretty much legally committed. As a renter, there's not a lot of leeway with that one. But as a property manager, it might be tempting to give up on a property if things get rough. First of all, your definition of "rough" probably pales in comparison with taming lions and building giraffe enclosures. But when those rough patches do occur, you might be compelled to reevaluate your involvement with the property. If it's overly taxing on your time and energy, it could be time to let it go. But there's likely a reason why you chose to market the property in the first place -- try and remember what those were, and also remember that problems are inevitable with any property.

Have a plan.

Matt Damon couldn't just up and run a zoo on his first try. Like anything in life, property management takes a certain amount of preparation and planning. Being thorough from the beginning with leases and walk-throughs will prevent disputes later on. Take careful note of any existing issues and work to get them fixed before tenants move in. In the movie, Matt Damon used his resources -- he relied on the knowledgeable zoo staff to inform him about the property. When you're considering renting or managing a property, do your homework. Ask the neighbors. Read any reviews online. Make sure you know exactly what you're getting into so you can plan accordingly.

In the end of Matt Damon's saga, he had himself a successful zoo, a happy family and a new love interest. While we can't promise these exact things to you, following in his steps can at least help you avoid some major property management pitfalls.

New Guestbook Comments

Show All

This UpMarket page written by

katiehawkes

Katie Hawkes is a freelance blogger for Real Property Management East Valley, an Arizona company that specializes in all major AZ cities, including property... more »

Deluxe. Remarkable. Creative. Unusual. Successful. Upmarket businesses push the envelope -- does yours?

Connect with UpMarket

This author recommends...