Benefits of Working with Property Managers

Property managers provide management and operations services which include: accounting and budgeting, and staying abreast of all financial matters related to tenants and the property as a whole; processing applications and conducting credit checks; collecting fees; showing properties and conducting screening interviews of potential tenants; collecting rent; maintenance and repairs; inspections; managing HOA funds; move-outs and evictions; marketing; daily operations; and numerous other additional unexpected expenses. 

 

It is the responsibility of managers to make sure everything runs smoothly. This includes managing a multitude of tasks where organization, time management, and the ability to relate to people, is of the utmost importance. They need to communicate with tenants, as well as manage employees, contractors and service providers such as maintenance or landscape personnel.

Let a property manager do the micromanaging while you focus on asset management. Hire professionals to do a job that can improve your profitability. A good property manager is knowledgeable and can protect you from potential lawsuits. The property manager is everyone’s 24/7 go-to problem solver. That not only includes tenants, but employees, accountants, attorneys, and local officials, including law enforcement. Property managers will often have to investigate disturbances, complaints and violations, and may have to participate in crime investigations. They are typically knowledgeable about required property insurance protection, such as general liability insurance and property casualty insurance.

Good property managers provide the benefit of being seasoned marketing professionals, savvy about operating modern, state-of-the-art technology. Tenants are frequently won through Internet searches in the current modern world, so it’s important to find a property manager with a digital presence. This might include a company website and/or social media channels. These same channels can provide you with reviews of property managers you’re considering hiring. Internet channels can also provide the ease of making online lease payments. Many communities have adopted online neighborhood watch forums, providing a place for neighbors to gather and share ideas, information, or alerts about local crime.