Sometimes, sellers and renters are too busy to manage some of their properties. Maybe it’s because they live in other places or they have too many properties to handle. They’ll need someone who can maintain the property’s tip-top shape, deal with tenants, and oversee the whole management.
Enter property management, the solution renters’, and sometimes sellers, problems. The main objective of a property manager is to supervise the operation of the whole property. Mostly in demand in the world of renting, he or she is the in between person that gives information for both the seller/renter and buyer/tenant parties. The property manager is both the messenger and the supervisor of the property. He or she is the leader – as long as the real owners of the property are gone.
Intrigued by what this job entails? Here’s everything that you need to know about property management – and if you have what it takes to be one!
Job description
Here are the most basic things that a property manager does:
- Finding tenants: Property managers are the ones who find tenants for the property.
- Dealing with tenants: The property manager is also the one who coordinates with the house’s tenants, deals with the issues that they are experiencing, and of course reports all of these to the property’s owner. If the issue is not that big of a deal, the property manager can resolve it all by himself, without bothering the owner.
- Collect rents: Property managers are also the one who collect monthly rents from tenants.
- Evicting tenants: If a tenant won’t be able to pay the rent or he or she completely disobeyed the property’s guidelines, the property manager has the call to evict the said tenant. Of course, the property manager will have to find someone to replace that tenant immediately.
- Oversees maintenance: Maintenance is also a part of the property manager’s job. They’re the ones who can change the light bulb if the old one is no longer working, or if any tenants need help in their bathroom faucet or if there are any cracks in the wall or vandalism. Another part of a property managers’ work is to pay the properties’ utility bills.
- Inspection: If a tenant decides to leave the residence, the property manager is the one who’s going to inspect to see if there are any damages in the house. The property manager will see through it that these damages will be resolved once a new tenant moves in.
- Setting leases: Property managers are also the one who set the lease and make sure that the owner of the owner of the residence is protected.
- Management: Big properties mean that there are many employees. Some of these employees are the repairmen, the janitor, and the security guard. It is under the job of the property manager to oversee these employees and to make sure that they are doing their jobs well.
Because of the huge demand on this type of job, there have been a great rise in property management firms that offer services that give the owners or the sellers peace of mind knowing that their property is in good hands.
How to find a good property manager?
There are many property managers out there but how will you be sure that you are getting the type of service that you deserve? The following are some tips on how you can find the perfect property manager:
1. Ask for referrals: Ask your friends who already experienced working with a property manager if he or she have someone that they can recommend. You can also talk to real estate agents in the area to get a list of property management companies that they have worked with.
2. Check credentials: Do online work. Research about your prospect and learn about his previous current and experience. You should also check their credentials and if they passed some real-estate related exams.
3. Examine the agreement: The final step is to check the agreement that you and the property manager will be signing up to. What are the included fees? What are the protocols when it comes to your properties’ maintenance and tenants.
4. Connect: Open communication is key when it comes to a great relationship with a property manager. Just because you finally have someone who can oversee the property doesn’t mean that you will no longer care for it.
There’s now a way for you to keep track of your properties even if you’re too busy or you’re out of town. Contact a property manager now and have an easier life! For more interesting real estate jobs tune in here at Persquare!