You want to get the most out of your property manager. This may mean promoting somebody within your business already or training your existing Property Manager in new skills, and we can help you. We can help you with our online assessment. This will highlight what skills and courses your Property Manager needs and then we can tailor something to match those requirements to help them improve and be the best they can be.
What is property management?
Property management is the act of overseeing and handling the business operations of a real estate property, often by a third party. It’s applicable to both residential and commercial real estate.
Property management: the basics
There is a lot that goes into running a successful, income-generating rental property. Most real estate investors simply don’t have the bandwidth to oversee one or multiple properties at a time. This is why property management companies exist.
What does a property manager do?
Property managers offer a full range of real estate services pertaining to the care and maintenance of one or multiple rental properties. At a high level, their job is to make sure that your investment property is a success. On a day-to-day basis, this could include many different responsibilities such as:
- Advertising rental listings to attract potential tenants
- Administering and enforcing leasing agreements
- Collecting monthly rent payments
- Scheduling maintenance and repairs
- Keeping a record of financial statements and preparing reports for the landowner
- Maintaining positive tenant relations and initiating the eviction process, if necessary
At a glance, you can see just how many tasks property managers must be able to juggle. Additionally, most property management professionals are well-versed in property management software that helps automate a lot of the work they do. Using a property management software solution makes it much easier to manage front office functions and balance other daily operations more efficiently.