The primary responsibility of a property manager is to manage the daily operations of a rental property. This includes setting and collecting rent, managing maintenance requests, filling vacant units, and possibly setting the property budget. Property managers are often hired when the owner or real estate investor wants to outsource some or all of the responsibilities associated with their rental property. As an expert in the real estate business, a property manager is responsible for evaluating the value of the property and its neighborhood.
They also market the property using word of mouth, online, and traditional methods to reach potential tenants. Property managers must also ensure that the property is healthy, livable, presentable, and operational. They are responsible for verifying that potential tenants are trustworthy and for setting a rental rate. Additionally, they manage leases and direct contractors to ensure that they work properly, on budget, and on time.
Property managers must also respond promptly to maintenance needs and requests. The responsibilities of a property manager may include just a few essential tasks or include the full management of the rental property. Working with a company like East Bay Property Management and Consulting means using an extensive network of contacts for your rental real estate. To get an answer to these questions, you must first understand the roles, duties and responsibilities of a property manager.