Property Management

12/28/2018 (Permalink)

Property managers have a variety of responsibilities. They may be consulted on setting the rent, as they are familiar with comparable properties in the area. They of course, collect the rent, ensuring an optimal cash flow by setting a date to collect rent each month and strictly enforcing late fees. Property managers are also responsible for filling vacancies.  They know where to advertise the rental and what to include in their ads.  They also understand what attracts tenants, so they can offer tips to help makeover the property.  They have a consistent screening process that includes running credit and background checks, which decreases their chances of being accused of discrimination.  They handle leases and determine the amount of a security deposit. They handle complaints, emergencies, move outs, and evictions. Property managers are responsible for managing the budget and maintaining records. They can even be expected to assist the property owner in filing taxes for the property.