5 Key Responsibilities of a Property Manager

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One of the most important roles of a property manager is being responsible for all tenants within the property.  A property management company is known as a third party explicitly hired to handle daily operations of real estate investment.    Services offered by a property management company/manager are genuinely essential. It can also help an investor…

5-Key-Responsibilities-of-a-Property-Manager

One of the most important roles of a property manager is being responsible for all tenants within the property.  A property management company is known as a third party explicitly hired to handle daily operations of real estate investment. 

 

Services offered by a property management company/manager are genuinely essential. It can also help an investor deal with the day-to-day challenges that comes with owning a real estate investment property. From single-family homes to multi-families, a good property management company can manage everything. From inspections to dealing with tenants and collecting rent

 

In this article, we will discuss one of the most important responsibilities of a property management company. These duties may vary depending on the contract between the property owner and the management company. 

 

Property Managers’ Responsibilities

 

From finding tenants to initiating evictions, managing tenants is one of the most significant jobs of any property manager. 

 

Finding Tenants  

 

 

 

Property managers are responsible for ensuring that all vacancies on the building are filled/ occupied. A property manager should have in-depth knowledge of his/her potential customer and how to market the property to them. Not only that but any good property manager knows precisely what attracts tenants so  he/she can suggest necessary renovations aimed at increasing the value of the property.

 

Screening Tenants 

 

 

Depending on the kind and location of the property, it is the property manager’s task to sort through prospective tenant applications and determine the suitable tenants for the property. These can include the use of various methods like:

 

 

The more experience and skills a property manager has, the better selection of tenants he/she would pick. With over 40 years of experience, Green Ocean Property Management uses proven techniques and methods to ensure that we get tenants who will:

 

  • Cause fewer problems
  • Pay their rent on time 
  • Have a more extended tenancy

 

Handling Leases 

 

 

Property managers are also responsible for setting the length of the lease. They’re also ensuring that the owner’s interests are protected.  This includes determining the amount of security deposit that should be paid before the tenant moves in. 

 

Handling Complaints/Emergencies 

 

 

Any good property manager should be well connected to maintenance companies that will help perform maintenance whenever a request is issued. Not only that but property managers also deal with noise complaints and emergency situations with necessary contacts to handle each issue. 

 

Handling Move Outs 

 

 

Move outs can be challenging but it is vital to have a great property manager in place to ensure everything goes smoothly. During move outs, a property manager will be responsible for:

 

  • checking for any damages 
  • determining what amount of the security deposit should be refunded to the customer. 

 

The tenant is eligible to receive a refund of the security deposit in case the property is left in great shape, and no money is owed to the landlord.  After all is said and done and the tenant moves out successfully, the property manager then performs necessary repairs and starts looking for a new tenant. 

 

Dealing With Evictions 

 

 

Another responsibility of a property manager is to file and move forward with eviction in case the tenant fails to pay rent or breaches the terms and conditions of the lease. 

 

If you or anyone else you know is looking for a proactive property manager who can go above and beyond for your rental properties, please think of Green ocean Property Management, where you get more than a property manager, you get peace of mind.

 

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