Property Manager
A Property Manager plays a key role within the real estate industry, with regards to dealing with the everyday management of residential properties. A Property Manager’s main focus is to ensure that property operations run efficiently, tenancies are adhered to, and investment value is increased. Often serving as the liaison between property owners, tenants, and service providers, the residential Property Manager must balance the concerns and requirements of different stakeholders while adhering to relevant legal and regulatory standards.
Key responsibilities
Tenant Management
- Screening and selecting tenants.
- Conducting background checks and reference checks.
- Preparing and executing lease agreements.
- Handling tenant inquiries and complaints.
- Managing tenant move-ins and move-outs.
Property Maintenance
- Coordinating repairs and maintenance tasks.
- Conducting regular property inspections.
- Ensuring compliance with safety and health regulations.
- Managing relationships with contractors and service providers.
Financial Management
- Collecting rent and managing payment processes.
- Maintaining financial records and budgets.
- Preparing financial reports for property owners.
- Managing operating expenses and property taxes.
Marketing and Leasing
- Advertising available properties.
- Conducting property showings.
- Negotiating lease terms with prospective tenants.
- Keeping occupancy rates high through effective marketing strategies.
Legal Compliance
- Ensuring compliance with local, state, and federal laws.
- Handling eviction processes when necessary.
- Keeping up to date with changes in property laws and regulations.
Communication
- Acting as a liaison between property owners and tenants.
- Providing regular updates to property owners about property status.
- Addressing tenant concerns and resolving issues promptly.