What a property manager does

by | May 12, 2016 | Real Estate

An excellent way of investing money is by owning rental property. Many real estate owners decide to work with property managers with their investment to effectively manage rentals. The role of property managers includes handling several aspects of residential, commercial, or industrial properties. They ensure properties are rented, look good, are properly maintained, and they also make sure resale value is maintained. Often time’s property managers work on-site in an office environment.

Typical Duties of a Property Manager Include:

  • Show properties to prospective tenants.
  • Perform a reliable screening process of prospective tenants, ensuring only the highest quality of renters reside in units.
  • Discuss and explain lease terms to new tenants. When the lease expires, negotiate changes with worthy tenants for the promotion of tenant retention.
  • Collection of monthly rental fees, security deposits, and late fees.
  • Examination of all rental buildings, grounds and equipment. This includes electrical, HVAC and roofing.
  • Maintaining proper records of all income and expenses for the property. Keeping all receipts and documentation to report to the property owner.
  • Perform maintenance when needed, ensuring property remains in good condition. Also, routinely performs routine maintenance keeping everything in working order.
  • Pay bills pertaining to property, such as mortgage, insurance, taxes, water, cleaning, and payroll.
  • Look into and resolve all complaints, violations and disturbances whether from tenants or not.
  • Have knowledge and comply with all local, state, and federal property laws. When advertising or renting, do not discriminate.
  • Report to the property owner on a regular basis. Property managers must keep owner informed on their property’s status, necessary maintenance, vacancies, and upgrades needed.

Property managers are a valuable asset to property owners. They perform significant functions of maintaining and operating a property owner’s real estate. The majority of property managers are employed by property management companies, where they work full-time. Weekend work is something many managers do to show prospective tenants apartments.

For more information please contact Real Property Management Las Vegas, or call us today at 702-478-8800.

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