Understanding the roles of the property manager
Most people have heard of property managers, but do not understand what it is they do exactly. Well, if you are one of those, this guide will be very helpful. A good property manager should be able to handle the following;
Rent
It is the job of the property manager to set the initial rent, collect rent from the tenants in the building and adjust the rent if necessary. The initial rent is especially important, because setting the right level attracts tenants to the property. The property manager should have enough knowledge of the market where the property is located, and have knowledge of the going rates around such that they can set comparable prices. The property manager is the enforcer, ensuring there is optimal cash flow by setting a date and collecting the rent each month, as well as ensuring the enforcement of late fees. The property manager is also responsible for the adjustment of rent, mostly after a year or a few years, base do on a fixed percentage.
Tenants
The best experts in property management in Las Vegas should also be responsible for all things involving tenants. For instance, they should be able to find tenants through responsible marketing practices. They should know where to advertise and what to include in their ads, as well as the cosmetic additions and improvement to the property that will attract the tenants and makeover the property. When tenants are available, it is the job of the property managers to screen them and make sure they are an appropriate fit for the property. They should have a consistent screening process, including the credit checks and checking of criminal backgrounds. They must also be responsible for the handling of lease agreements, as well as other tenant related services like the handling of complaints, emergencies, move outs and evictions when necessary.
Repairs and maintenance
These are some of the most exasperating tasks when it comes to the management of a property. Luckily, property managers are normally charged with preventative maintenance in order to keep the property safe and performing in top condition. They will normally be in charge of hiring professionals for extermination, checking leaks, landscaping, removal of trash and shoveling snow. Like us on facebook.
Are you looking for someone to handle the day to day at your property? At Simply Property Management, we do everything mentioned here and so much more.
