Important Tasks in Property Management
Property Management is an important aspect in real estate. A Property Manager does several tasks and services that include;
- marketing a property
- Selecting and screening tenants
- drawing up lease agreements
- assessing a property to determine the appropriate rent
- maintaining all the records for the Property
- Collecting rent
- Handling repairs and maintenance
- handling complaints from tenants
Why Hire a Property Manager?
The tasks and services above are important in property management. However, the most valuable tasks and services offered by a property manager are;
- Protecting your property and privacy-In this day and age, privacy is very important. A tenant can show up at your home unexpectedly because they need you to help them solve an issue. A property manager saves you from such situations.
- saving you time- Managing a property is time-consuming. Collecting rent, supervising repairs or screening tenants consumes much of your valuable time which you could use to attend to other businesses or spend with your family or friends.
- acting as a link between you and the tenant
By hiring a Property Manager, you hand over your duties and regain the most important asset you can have, time.
You should consider hiring a property manager if;
- your property is situated far
- Your time is limited
- Property management tasks overwhelm you
- You consider your property an important investment that requires professional management
- You have several properties
How to Hire a Property Manager?
When hiring a property manager, you should do the following things to avoid hiring a bad property manager;
- Assess their personality and skills
- Evaluate the accounting services and fees
- Evaluate their marketing abilities
- Determine how tenants are screened
- Determine how maintenance and repairs are handled
- Ask for references and a sample of properties they manage
- Draw a comprehensive agreement that has a termination clause
- Be clear on the procedures and timeframes for accounting for money
- Determine how long the manager takes to inspect the property
- Evaluate the tenant management system used by the manager
- Hire a licensed and accredited property manager
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.