If you into real estate business, you might want to know about the different roles of property and resident managers, as these are similar positions. People very often mix the roles up and get confused and resident manager vs property manager discussion ends up unresolved.
For this occasion, we have prepared a small article that will explain these differences so you could understand better these roles. So let’s get started and explain these roles!
The duties of the resident manager
As a resident manager, you are mostly involved in homes and apartments, not in the industrial buildings for example, though this is not an official rule. He is responsible for maintenance at the first place. Once a leakage is found, he must hire a skilled plumber who will fix the problem.
Also, he is ought to supervise the plumber and make sure that he fixed the problem. Snow shoveling, taking the trash out, hiring a cleaning agency that will exterminate the pests or simply keeping the current tenants happy is one of the duties of a resident manager.
In case of an emergency case where the urgent repair is needed, he must react quickly and provide the solution to the problem.
Also, when it comes to moving in and out of the estate, he must make sure that checks all the elements and possible damages made by a previous tenant. Once he determines that everything is fine, he is returning the full deposit to a tenant that is moving out. In case there are some damages, he needs to define the costs that the tenant should pay.
What a property manager has to do then?
The property manager is usually found in the office at his desk, but his duties involve more than just sitting next to the table and checking everything online. They often have consultations with the estate owners, discussing different topics and subjects that are relevant for the estate but also regular inspections of the more units that are under their control. Also, the supervision of other (resident) agents comes under the list of duties he needs to perform, along with the regular estate inspections.
When we mentioned the consultations with the owners, we also mean that he helps the owner to develop the annual budget for the estates he has, in order to have money for emergency repairs or something similar for example. All the questions that owners or investors have, the property manager needs to answer. Also, any complaints that cannot be solved by a resident manager are transferred to him and he starts doing these.
Another huge difference
Besides these above-mentioned duties and characteristics, there are also two things that separate these two categories. The property agent has to look out for more units while the resident agent only handles one unit. Also, in order to be a property agent, you must have a valid license, unlike the resident agent that does not require any licenses.
This means that you, as the property manager, will have to acquire much more knowledge than the resident manager, as you will have to offer the answer to all questions that are asked. So it is natural to conclude that the property manager has much more responsibilities.