Property Managers Vs. R.E. Agents in Managers Clothing

In light of this down market many real estate agents are entering fields in which they have very little experience. Whether its, commercial brokerage, originating loans, loan modifications, or property management. I want to talk about the latter, property management. Property management is not rocket science but is a systems business an efficiency and accounting business. Many agents when entering this new field they can handle the leasing, because that is sales and that is what they do. However, procedures, evictions, maintenance, keeping track of the rents, expenses, trust accounts, security deposits, monthly statements, filing 1099s, and all the bookeeping becomes very heavy for an agent to lift with out the proper training. Property Managers that do not get involved with the listing and selling of real estate do not run the risk of neglecting their rentals for listing appointments. When choosing a property manager make sure that management is their focus, that way the time and attention that your property receives is sufficient to properly service your investment property.