What Is A Property Manager?

What Is A Property Manager?

​Everyone knows that property managers exist but the technicalities of what they do are probably lost to most. A property manager is essentially a third party person who is hired to handle daily, weekly, monthly, and even yearly operations of a real estate investment. We can manage all kinds of properties, from single family homes to large apartment complexes. 

Our responsibilities vary based on contracts, of course, but can include any of the following:

• Rent Management: Property management includes one of the most crucial factors in the industry, RENT. We can be responsible for setting, collecting, and adjusting rent for different properties. We do this by setting strict dates, enforcing late fees, understanding the market, and monitoring our state’s laws. This all starts with the proper assessment and marketing of the property, followed up by thorough screening of all applicants to ensure they are qualified renters
• Tenant Management: Rent has to come from somewhere, we’re talking about tenants. Property managers work to find/screen tenants, deal with complaints and emergencies, handle leases, initiate evictions should they be needed, and manage the process after an eviction takes place. 
• Repairs & Maintenance: Property Managers are responsible for regular maintenance of their properties, as well as handling emergencies relating to the home. We need to keep the property in tip-top-shape by hiring exterminators, landscapers, plumbers, repair men, and many others! 
• Supervision: By hiring those people, it’s important to supervise them and their projects! If you have a vacant property, it still needs to be checked on on a regular basis. This falls under that category too!
• Budgets & Taxes: Managing Budgets and Taxes for properties can also fall under a property managers list of responsibilities. Alot of work can go into investing in properties, and should something need repair, property managers have to make sure budgets are kept and taxes are filed properly.