What is a Property Management Company? Sarasota, Bradenton, Venice, Lakewood Ranch, FL
Being a specialized field, it's not surprising that many people (even those in the real estate sales business) don't fully understand what goes into successfully managing residential real estate. Here is a quick rundown of what a professional Property Management Company does on behalf of homeowners and investors:
- Rental analysis (how much rent should be charged).
- Make-ready services to get the rental ready for new tenants.
- Advertising for new tenants.
- Employment, credit, and criminal background checks on all prospective tenants.
- Lease negotiations.
- Rent collections.
- Initiating evictions (when needed).
- Managing escrow/security deposit accounts.
- Emergency maintenance services.
- Routine maintenance services.
- End of year tax record preparation.
A professional property manager is indispensable to the efficient and profitable operation of residential rental properties and should only be attempted by highly trained professionals.
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