Properties management
Property management is the act of overseeing and handling the business operations of a real estate property, often by a third party. It’s applicable to both residential and commercial real estate.
What are the benefits of property management?
As a third-party service provider, a property manager aims to serve both you and your tenants’ best interests. It’s their job to keep the tenants happy, while also ensuring that your building is staying in tip-top shape. You won’t have to worry about the day-to-day headaches that arise from having a rental property. Instead, you’ll just be making money.
What do property managers do?
Property managers offer a full range of real estate services pertaining to the care and maintenance of one or multiple rental properties. At a high level, their job is to make sure that your investment property is a success. On a day-to-day basis, this could include many different responsibilities such as:- Advertising rental listings to attract potential tenants
- Administering and enforcing leasing agreements
- Collecting monthly rent payments
- Scheduling maintenance and repairs
- Keeping a record of financial statements and preparing reports for the landowner
- Maintaining positive tenant relations and initiating the eviction process, if necessary
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