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  • Writer's pictureSeth Flora

What Does a Property Manager Do?

Updated: Oct 22, 2023

Property managers are pioneers, charting the course for property owners toward prosperity. From collecting rent to handling taxes, they are the trailblazers in the ever-evolving landscape of real estate management, forging paths toward success.

what does a property manager do

What does a property manager do?


1. Screening Potential Tenants

Beyond the cursory glance at rental applications, property managers are akin to detectives, delving deep into the financial stability, rental history, and background checks of potential tenants. Their meticulous screening process ensures that the right individuals are chosen, fostering a positive landlord-tenant relationship from the outset.


2. Drafting, Signing, and Renewing Leases

Crafting a comprehensive lease agreement requires legal finesse. Property managers, armed with an understanding of local laws and regulations, meticulously draft leases that protect the interests of both landlords and tenants. They facilitate the execution of these contracts and handle renewals, ensuring a seamless transition for all parties involved.


3. Collecting Rent

Timely and consistent rent collection is a cornerstone of property management. Property managers employ various tools and methods to streamline this process, using technology to make payments convenient for tenants and ensuring a steady income stream for property owners.


4. Maintenance of Properties

Properties under the care of property managers are not just buildings; they are living entities. Managers oversee routine maintenance, ensuring that landscapes are lush, snow is promptly removed, and the overall aesthetic appeal of the property is maintained. This meticulous care contributes to tenant satisfaction and property value.


5. Arranging Necessary Repairs

When the inevitable wear and tear occur, property managers act swiftly. They coordinate with trusted vendors and contractors to address maintenance issues promptly, preventing small problems from escalating into costly disasters.


6. Setting and Adhering to Budgets

Fiscal responsibility is a hallmark of effective property management. Property managers collaborate with property owners to establish budgets for routine maintenance, repairs, and improvements. They work diligently to ensure that the property remains in optimal condition while respecting financial constraints.


7. Understanding Landlord-Tenant Laws

Property managers are legal aficionados, staying abreast of the ever-evolving landscape of landlord-tenant laws at both the state and national levels. This knowledge ensures that every action taken is within legal frameworks, safeguarding the rights of both landlords and tenants.


8. Marketing Properties

Vacancies are not just empty spaces; they are missed opportunities. Property managers employ creativity and strategic thinking to market properties effectively. Leveraging online platforms, social media, and traditional advertising, they aim to fill vacancies promptly with quality tenants.


9. Supervising Other Employees

In larger property management operations, property managers wear the hat of supervisors. They lead a team of maintenance staff, leasing agents, and administrative personnel, ensuring that each member contributes to the smooth operation of the property.


10. Handling Taxes

The intricacies of real estate taxation are unraveled by property managers. They keep meticulous records, ensuring compliance with tax regulations. Their insights contribute to optimizing tax outcomes for property owners, reducing financial burdens.


Final Thoughts

Each duty is a thread contributing to the overall success and well-being of the managed properties. Property managers are more than mere professionals; they are conductors, harmonizing legal expertise, financial accountability, and a profound grasp of the human aspect.

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