What Does a Property Manager Do for You?

What Exactly Does a Property Manager Do? How Can They Help Me?

If you have owned investment property for any length of time, you know that owning a rental can be financially rewarding. You have also discovered that property management requires a large commitment and the care and maintenance is time-consuming. Hiring a dependable property manager can help take the burden of management away.

When you decide to entrust the management of your rental property to a professional property manager, you become free from the day-to-day hassles and headaches of dealing with tenants, keeping up on regulations, and handling all of the details. Whether you own one rental property or twenty properties, having the peace of mind and knowing that everything is taken care of is just one reason why you chose to hire a professional property manager—but you still want to keep informed about what is going on, right?

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A good property manager communicates with the property owner to inform them about rent collection, repairs and maintenance, updates during the leasing process, and anything else that would be important for the property owner to know.

So, what exactly does a property manager do?

• Setting Rental Rates: A property manager conducts thorough market studies to set optimal rental rates. They ensure your property is competitively priced to maximize income while minimizing vacancies.
• Marketing Your Property: With extensive experience, property managers craft compelling rental listings and advertise across various platforms. They know where and how to reach potential tenants quickly, minimizing vacancy periods.
• Tenant Screening: Professional property managers handle tenant applications meticulously. They conduct comprehensive background checks, verify employment and income, and collect references. This rigorous screening process helps you select reliable tenants who are likely to pay rent on time and take care of your property.

• Rent Collection: Timely rent collection is crucial for maintaining a steady cash flow. Property managers enforce lease terms, handle rent payments, and address late payments promptly. They act as a buffer between you and tenants, managing any disputes or issues that arise.
• Maintenance and Repairs: Property managers coordinate maintenance and repairs efficiently. They have a network of trusted contractors and vendors, ensuring quick response times and cost-effective solutions. This proactive approach keeps tenants satisfied and protects your property from damage.
• Legal Compliance: Staying compliant with landlord-tenant laws is essential. Property managers have in-depth knowledge of local and state regulations. They handle lease agreements and evictions if necessary and ensure your property operations adhere to legal standards, minimizing legal risks.
• Tenant Retention: Retaining good tenants is key to reducing turnover costs. Property managers implement strategies to enhance tenant satisfaction, such as prompt maintenance responses, regular inspections, and fair treatment. Happy tenants are more likely to renew leases and take better care of your property.
• Maximizing Efficiency: Property managers save you time and money by streamlining operations. They handle administrative tasks, respond to emergencies, and optimize property performance. This lets you focus on other investments or personal endeavors while ensuring your rental property remains profitable.
• Communication: Effective communication is paramount. Property managers provide transparent communication through online portals where you can access financial statements, maintenance requests, and tenant updates 24/7. They also offer direct support via phone or email, ensuring you stay informed and your concerns are promptly addressed.

Because communication with your property management company is so crucial to the property owner-property manager relationship, our Real Property Management offices have made it a priority with our clients for almost 30 years to keep the lines of communication open with three simple steps:

1. First, our online portal. The online owner portal, located on the Real Property Management website, is where our clients can review every detail about what is happening with their property, 24 hours a day, seven days a week, from anywhere in the world. Clients can view their financial statements, see when rents are collected, and disbursements are made, check tenant rental payment history, review work orders, and even see property photos from the last inspection. Our clients love their online owner portal because it makes life as a landlord much easier.
2. With all that information at their fingertips, Real Property Management clients still know they can count on a friendly answer to their call, day or night. Our 24-hour hotline ensures that not only tenant emergencies are addressed—but urgent owner concerns as well. Even after hours, your friendly and highly trained team is always ready to serve.
3. When a client’s property is in the leasing process, they can expect weekly updates from their leasing agent on showings and applications. We are also available to discuss the property’s preparation, offer recommendations on rent rates, and review leasing strategies.

Remember, communication goes both ways. The law requires Immediate attention to some maintenance items, so it’s critical that your property manager has the best phone number and email to reach you in an emergency.

Constant communication, professionalism, knowledge, and experience—it’s what you can expect from Real Property Management. Put our experienced team and proven process to work for you.