Who is a property manager and what are your expectations of him? Typically a property manager is put in charge or he or she is one that looks after somebody elseâ€™s property. If you hire a property manager or a property management company you sh
ould be aware of the services offered or undertaken to be done other than being just a connect between your tenant and you as a landlord.
Before hiring the services of a property manager you should be aware of the services they assure you of and the respective charges for the same. As a landlord or a property owner it perhaps is a good idea to get a sense of what you can get for your property instead of a property manager talking you into any amount. However the size and location of the property is also an important consideration before finalizing the rate.
A property manager has to look at the property and make a good enough advertisement highlighting the property to attract prospective renters. If he or she is experienced enough they would know the points to showcase in the ads so that they can get renters in the shortest possible time. It definitely does not make sense to leave the property vacant for a long period.
The next most important facet of a property manager is to maintain and showcase the property in its best form. Between renters one should be responsible enough to take care of the property, get it cleaned and painted and make it attractive for tenants. It is not only about beautifying the property but also about keeping it in good shape. The property managers should also at regular intervals conduct checks on the property in order to make sure that the tenants are taking good care of it and not trashing it or treating it with disrespect. If the property manager is vigilant enough, the tenants would also be careful about treating the property with respect and taking care as if it were their own.
3. Finding Good Tenants
It is not always possible as property owners to be able to choose the right tenant. Experienced property managers are known to screen the applications, screen the prospective tenants, finalize rent, collect rent from the tenant, and be responsible enough to deposit rent into the ownersâ€™ bank account. This should be done on a monthly basis or as advised by the property owner.
Since he or she is the conduit between the landlord and the tenant, he should interact with the tenant and that landlord and bring up issues that need to be addressed with regard to the property. The property manager is also responsible to speak to the tenant and fix issues with regard to irregularities of rent payment and maintenance of the house. You should also expect them to be submitting a monthly, quarterly, and half- yearly, yearly statement of accounts that show all the expenses and income that has accrued from the house to keep things clear.
Therefore having a property manager is very beneficial as things like finding a tenant; negotiating with the tenant; keeping to the necessary legalities; maintaining the interest of the property owner and the tenant at the same time; as well as understanding the requirements of the property owner with regard to the property and everything with regard to rentals happens seamlessly without the property owner being hassled about these things.
There are different commission that is charged or a percentage of the rent is payable to the person depending on the size of the house and the contract with the property manager. It is of great help to have a property manager in case you have multiple properties and you are looking at renting them out. It is worthwhile paying a small percentage from your earnings and all for such good services that promises you a good nightâ€™s sleep.