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Property Management is an important aspect in real estate

Important Tasks in Property Management

commercial 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.

  1. Angela Beth says:

    The hiring of a property management company is beneficial from a lot of ways. If you don’t have time then hire a property management company because they perform all the property relevant tasks efficiently. They also manage your property perfectly and make it more valuable.

  2. Sophie butler says:

    Information given in this article provides proper guidance to hire a reliable property management company. Hiring property management company could reduce stress associated with the management of multiple property and save a lot of time of the owner. However, one should be very careful while hiring a property manager. Certain criteria must be followed to hire a reliable and experienced real estate professional. Referrals are the best way to find such types of property management company. Referrals from friend and family members are more reliable.

  3. Joy Butler says:

    You did a great job of explaining how important the property management is. It really helped when you provided a list that we need to do when hiring a property manager. My brother is now buying a residential lot and he must know to evaluate how the tenants are being screened just like why you have mentioned.

    1. Sonny Sharma says:

      Thanks! Glad you found the article of use. We try our best here at RPM Premier.