What are the functions of a property manager?

By Layla Hall | Home Improvement

Feb 06
Young happy women or student on the property business background

For many property owners, overseeing daily activities for each of their properties may be a daunting task. Even though owning a property is profitable, there is a wide range of responsibilities that should be fulfilled to get more from your investment. The best decision in this situation is hiring the services of a professional property manager. However, before you go ahead and fix a meeting with your a Phoenix property manager, it’s important to know the services they offer.

This article will discuss the roles of a property manager and what you should expect.

Finding Tenants or Buyers

Property managers in Phoenix have managed a wide range of properties and thus, they know how to find buyers or tenants for your property. As a typical owner, finding tenants may be a difficult task. Where do you even start?

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These professionals know how to advertise and market your property so that it doesn’t remain vacant at any point. A vacant property means you may result in loss of revenue. Property managers use newspapers, magazines, the internet, and other media to make sure your investment gets tenants. Should you choose to sell, these experts can also find you a property buyer.

Setting the Right Rental/Buying Rates

This is another role of a property manager. They help in setting the best rates for renting out or selling your property. As an average property owner, you may not know the best rent/sell rates in the real estate market. The real estate market also keeps changing and keeping up with changes may not be easy. Property managers are always updated with the latest rates and thus, they will ensure you get the best returns. They will involve you all through the process after considering vital points such as the property’s condition and location.

Handling Property Maintenance and Repair

There are some situations whereby maintenance and repairs are necessary. It’s the work of a property manager to ensure that these tasks are handled professionally and timely. Some of the repair and maintenance may involve hiring someone to take care of plumbing leaks, landscaping work, and get rid of trash.

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However, one thing you need to keep in mind is that different property managers may be offering different services when it comes to maintenance. Especially if you have a commercial property, talk to your commercial property management phoenix to know what they do and don’t handle.

Handling Moveouts and Evictions

If you have rented your residential or commercial property, the property manager is responsible for handling all moveouts and determine the tenant’s portion of the security deposit. After the tenant has moved out, they will also clean up and repair any damages so that the property is ready for a new tenant.

And if the tenant is not paying rent or he/she is causing disturbances, a property manager handles the eviction. If you lose your temper easily or don’t like confrontations, you will rest easy because another person will handle it for you.

Collecting Rent

If you have a rental property, then the manager is also tasked with the responsibility of collecting rent. This will save you the time and stress that comes with chasing tenants for rent.

Other roles of a property manager are:

• Handling any emergencies and complaints
• Keeping and maintaining property records
• Screening tenants or buyers
• Helping the property owner to file taxes

Even though property management Phoenix may seem like an easy task, it involves a wide of range tasks, and they all have to be done correctly for investment success. A property manager in Phoenix is a vital entity to ensure your best chance of success. Just ensure you find a reputable one who delivers on these crucial areas.