The job of a property manager is anything but easy as many people think that you only need to collect money from the tenants and that is all you have to do. In reality, it is far away from that and it includes many other responsibilities that you need to carry out. This article is mainly written for those that have a lot of estates but not enough time to take care of them and for that reason they need to hire a property manager.
This way, the landlords will understand why and on what they spend their money when paying the property manager.
All rental related actions
From adjusting rents and finding an appropriate tenant, to performing a background check of each tenant and collecting the money, all these are responsibilities that he must perform. The property managers usually understand better the whole market and the property they are renting out, so it is very likely that they will adjust the better price for you.
Also, they can find easier the tenants that will accept the higher price and get you more money.
When it comes to tenants, a manager is ought to find new tenants if the current one/s decide to leave the apartment or are evicted for some reason. Also, the manager collects the payments (if these are not sent online directly to the landlord) and delivers them to the owner of the property.
Maintenance of estate
Yes, every problem, once reported by a tenant, must be solved as soon as possible and all these go directly to a property manager.
In case of damage, they will hire a plumber, carpenter or electrician to solve the problems under his supervision and monitoring.
He monitors every single repair that needs to be performed as he is the responsible entity for all estate-related questions. The regular check-ups and inspections can be performed but that is decided by the agreement between a landlord and a tenant.
Supervision of other agents
A company might have many agents that are under the supervision of the main estate manager. Those agents act according to the main manager’s instructions and he ensures that all the tasks are carried out well by the agents.
He has a right to increase or decrease the salary of every individual agent, according to their performance and dedication. In order to become the main agent, you need to have decent work experience in this industry, so you could be an appropriate candidate for the job.
All payments, bills, costs of repairs or any kind of money transaction is ensured by the property manager and he needs to collect all these. Depending on the company, it can happen that all these are uploaded online so he does not need to go physically to each location to collect them.
Instead, he can collect all of these online and then send them to the owner of an estate. The fixture costs, maintenance and repair expenses, billings and all other payments must be organized well so the owner could see the expenses he is having.
While the financial support can be performed online with the help of various tools, some owners ask explicitly for “old-fashioned way”, without any use of modern tools.