The Role of Real Estate Property Management Glendale CA | E-Tree Homes

You’ve probably heard of property managers, whether you’re an investor, a renter, or just interested in real estate. But what does a property manager do? Property managers have a lot more responsibilities than you might think. Most of the time, they do much more than just collect rent.

Let’s talk about some of the things property managers do and what you can expect if you hire one.

What Is A Property Manager?

A property manager is a person or company that the owner of a piece of real estate hires to oversee and run the property daily. Property managers are responsible for setting and collecting rent, taking care of maintenance requests, filling empty units, and maybe even setting the property’s budget.

Property managers usually take care of the homes of real estate investors who don’t live nearby or don’t want to manage the homes themselves. Depending on what the owner wants, a property manager can be a single person or a whole company.

What Do Property Managers Do?

The main reason to hire a property manager or investment manager is to safeguard your real estate investment and passive income. Investors hire property managers to take care of their rental properties for several reasons, such as wanting a local expert to take care of a property or wanting to be less involved with their properties.

But what do property management companies and managers do to take care of the properties they are in charge of? Let’s talk about a few of the most common things property managers must do.

Follows Landlord-Tenant Laws And Regulations

As an investor, keeping track of all the landlord-tenant laws and rules can be hard, especially if you own several properties in different states or cities. A property manager can take care of these rules, so you don’t have to worry about getting into trouble with the law. Property managers are often better at following local rules and laws because they know the area where they work.

Provides a Local Presence for Non-Local Owners

As the expert on-site, property managers also help out-of-town owners feel like they have a presence in the area. If a property owner has lived in Virginia their whole life, they might not know how to handle the complexities of managing property in a place they don’t know well, like California or New York. A property manager can take care of all these things for them, as well as maintenance and other issues that would be hard to handle from a distance.

Handles Maintenance Requests

A property manager or company that manages properties also takes care of maintenance requests and other tasks that need to be done in person. Tenants can get frustrated with a landlord who doesn’t fix maintenance problems quickly. That’s why it’s helpful to have a manager on site who can deal with tenant problems quickly.

Shows And Leases Vacant Units

Working with a property manager may also assist owners in avoiding the financial loss that might result from a vacant unit being vacant for a long time. Instead of attempting to promote your property remotely to prospective renters, you can depend on a property manager to bring in new tenants and maybe extend current contracts.

Collects And Deposits Rent

As part of their job, property managers also have to collect and deposit rent for the properties they are in charge of. Some property managers use online sites or payment apps to collect rent. This helps get the money to the property owner faster.

Managers of rental properties may also be in charge of late collections, payments, and evictions. By hiring a property manager, investors can be certain that these tasks, which may be difficult to perform from a distance, will be completed efficiently and effectively, saving them both time and money.

The Benefits Of Hiring A Real Estate Property Manager

• Good for investors who own more than one property: It can be hard to keep all of your tenants happy when you own more than one property. If you don’t have time to take care of your properties and tenants, hiring a property manager will ensure that they still get the work and attention they need.
• Allows you to put your money elsewhere: Working with a property manager or management company gives you a lot of benefits, but one of the best is that you can invest in properties far away without having to worry about managing everything yourself.
• Hiring someone to manage your properties won’t have to worry about maintenance and upkeep. This is another important benefit. You don’t have to try to fix everything yourself. Instead, you can hire a property manager or their in-house maintenance team to do it for you.

Real Estate Property Managers Are Trusted With Great Responsibility

Property managers can be a big help to real estate investors who don’t live near their properties or don’t have time to take care of them. The services of these managers are not free, though, and not all real estate investors may be interested in them.

Before hiring a property manager, you should consider your financial and personal needs and the needs of your property. You should also decide if you are comfortable giving up some control of your investment to a third party.

If you’re ready to purchase your next investment property, start with E-Tree Homes. For more information, please call us at 909–821–7958.