It is not easy to run the operations of your property, especially if have several properties located in different places or if you have other responsibilities to attend. If you are in such a situation, you can always hire a third party person popularly known as a property manager or community manager who can assist you in running the daily operations of your property. Property manager roles and salaries vary in different depending on the type of property they are handling and many other factors. Here are the major benefits of having a property manager.
Property managers are usually skilled professionals in property and real estate industry. They are responsible for setting the rent of a given property as they have the knowledge about the market. They usually set the rent depending on the market to attract tenants. They are also responsible for collecting rent on monthly basis and enforce late payment terms and punishment. They can also adjust the rent depending on the services and amenities provided and also in line with the local laws and regulations.
2. Tenant Responsibilities
Community managers are responsible for handling tenant issues such as filling vacancies, advertising vacant property and anything related to attracting customers. They also perform screening for security purposes to ensure the new tenants are responsible and do not have any criminal records. They also handle leases which includes determining the lease term, security deposit and many more. They also handle emergencies and complaints and provide a solution. They also handle move outs by ensuring the property is in order, charging for damages, repairs, and handing out deposits if there are no damages. They also handle evictions to tenants who defy the regulations and terms of the property.
3. Repairs and maintenance
Community managers are also responsible for handling any repairs and maintenance services required. This includes ensuring that all amenities are functioning properly, such water and sewerage system, electricity, the property is clean for the purpose of hygiene, Landscaping and many more. They are responsible to allocate any repairs and maintenance jobs to experts such as plumbers, electricians, carpenters and any other person working in the property and also pay them.
4. Landlord-Tenant law expertise
Property managers have the best skills when it comes to understanding laws and regulations that guide landlords and tenants. They are responsible for educating the tenants clearly so that they can understand everything well. They also understand local laws such as state and local municipal laws regarding properties. They make sure that the property they are handling complies with this laws and tenants also comply. These include screening tenants, terminating leases, handling leases and ensures tenants comply with property safety standards.
5. Handling financial records
Property managers like ACCU Inc are responsible for handling all the financial and budget records of the property. They ensure that the budget is properly utilized, rent records are kept, maintenance and repair expenses are recorded and filed properly. They have to ensure that any financial record is maintained properly for future reference.
As you have observed, community managers play an important role in any property. The work is tedious and requires the assistance of a professional property manager to ensure smooth operations.