Responsibilities of a Property Manager

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Services for Real Estate Pros with Goodjuju

 

 

 

 

If you’re moving to another state, leaving behind your current home or have multiple properties, hiring a property manager to look after these properties can be the best decision you make. Knowing that there is someone who has taken up the responsibility of taking care of your property on your behalf enables you to breathe a sigh of relief.

You’ll be surprised to know the number of things a property manager is responsible for. If you ask us, we say that hiring a property manager will make your life a lot easier. Before you hire a property manager, first have a look at the key responsibilities of a property manager to understand their role better.

1. Property Maintenance

A property manager is responsible for maintaining your property and ensuring that it’s in the best possible condition. It is their job to inspect your property regularly and ensure that anything that needs attention is fixed right away. It might not be possible for you to visit your property every few weeks and take time out to get things fixed. You can rely on your property manager to do that much.

They’ll ensure that your property gets regular servicing from reliable contractors. They’ll also make sure that all minor repairs are addressed on time, and major repair costs are avoided as much as possible.

2. Tenant Management

From making sure that your property doesn’t stay vacant to running background checks on tenants to managing everything related to the tenants, a property manager is responsible for doing it all. They’re also responsible for staying in touch with the tenants and serve as a bridge between you and your tenants.

The property manager is the authorized primary contact person for your tenants, so you don’t have to worry about your tenants calling you for minor complaints or requests at odd times.

Rent Collection

Your property manager will collect rent from your tenants on your behalf on time every month or year (depending on how you collect rent). Your tenants will not always be cooperative. Some tenants may turn out to be problematic. Collecting rent from such tenants is a stressful job. However, with a professional property manager on board, you don’t have to worry about any of that.

4. Leasing Contract

Property managers are not just excellent at customer service, but they are real estate experts as well. They have resources to help form a fair lease contract that is not only attractive for prospective tenants but also brings significant profits for you as well. Your property manager can also help you design marketing strategies in case your property is standing vacant.

Many homeowners do not rent out their properties at a fair price because they aren’t experienced or trained enough. Your property manager’s experience and training will help ensure that you get the best possible price for your property.

5. Financial Reporting

Your property manager is more or less a guardian of your property. They’re responsible for providing you with regular financial reports. Since they’re the ones managing the finances of your property and are looking after the maintenance and repair work, they will report back to you with everything that you should know as a homeowner. They’ll also help you calculate the tax deductions, monthly bills, daily expenses, and repair costs.

 All in all, a property manager is responsible for overseeing everything that goes about in your property. With a reliable property manager on board, you can rest assured that your property is highly maintained, and all tenant-related matters are being handled smoothly!

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