What Doesn’t A Property Manager Do?
What does a property manager do? In short, a lot! He or she manages their client’s obligations as a landlord under tenancy law. And also ensures there is a duty of care to tenants as well.
A property manager’s typical job responsibilities include:
- Advertise and fill vacancies, negotiate and enforce leases.
- Establishes rental rates by surveying local rental market.
- Calculates overhead costs, depreciation, taxes, and profit goals.
- Collects rents, pays bills, prepares an annual budget.
- Investigates and resolves tenant complaints. And enforces rules of occupancy.
- Inspects vacant units, completes repairs, and renovations as needed.
- Maintains building systems by contracting for maintenance services.
And an excellent property management company will keep you updated with regular communication. Above all, the main purpose of a property manager is to give you peace of mind!
Hiring A Property Manager
Are property manager’s expensive? The better question may be: Can you afford not to have a property manager?
You may think paying a commission on rental revenue is out of the question. However, consider a good property management company is truly worth every penny and then some!
Keep in mind, not all property management companies are created equal. Some offer more than others. Therefore, when you’re looking for one, it’s important to do your due diligence before you hire anyone.
Whether it’s demanding residents or unreasonable board members, maintenance headaches or a busted water main. A property manager needs to be able to listen and communicate, as well as be knowledgeable. He or she should also be level headed and resourceful, and personable.
One important note, even if you choose to manage your own properties – it pays to have a backup plan in case you change your mind and need help. Keep in mind, we can save an owner significant time and help reduce their stress as well.
At My MVP Property Management, we make it our mission to provide exceptional property management services to rental property owners in the Miramar,Florida area. Get in touch with us today to find out how we can help you manage your rental property.