The Rental Process ... "Being a Property Manager" ... Ocean City, New Jersey
One of the important roles for both a sales agent as well as a rental agent is to identify owners who you might work with as "a property manager." It's significantly better to be both a sales and rental agent because you are then able to effectively work with the owner on rental rates, problems, etc.With my move to Goldcoast Sotheby's International Realty in May, 2013; I had to identify those owners who were not renting with my new realty firm so that I could lock them up becoming their property manager. In most cases, having been their property manager and also a rental agent who placed rental tenants in that property; I was a good fit for continuing in that role with that particular Owner.
So the ongoing role for "the property manager" is to annually review with the owner the rental rate, any improvements to the property, and have the onwer complete all of the rental forms for the new season. We generally start that in September for the following year (September, 2013 for "the 2014 Summer Rental Season").
Once all of the September work is finished, you are now able to contact rental tenants and almost as important ... assist other agents in your company about your property rentals. Overall, the "rental property manager" is the trouble shooter for that particualr owner. However, you also have other roles ... picking up keys for the property, taking pictures of the property, and maintaining an ongoing dialogue with the owner.
The rental property manager does get a smalll piece of the rental payment action, but his or her ultimate goal is to be identified by the Owner as an agent who has taken good care of said owner ... and when a property gets listed for sale, that agent gets a shot at the listing for him or her and that real estate agency.
We also handle long term rentals too ... but the resort rental market tends to be much more "summer rentals" here in Ocean City, New Jersey.
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