As you may know, we are BIG fans of property managers. The small percentage of monthly rent diverted to their wallets for services rendered could very well save you an aneurysm from handling tenant complaints. Trust us, whether you live next door to your investment or across the country, you DO want a good property manager.
What sorts of tasks will a property manager take off your plate? Here’s a quick overview.
1. Conduct property inspections and/or final walk though with builder.
2. Advertise for tenants and conduct showings.
3. Pre-screen applicants and present prospective tenants to owner.
4. Coordinate vendors to prepare for tenants moving in.
5. Turn on utilities for showings and transfer to tenant upon lease.
6. Complete leasing agreement with tenant.
7. Accept security deposits and hold in trust account for owner.
8. Collect rent and provide check and statement to owner.
9. Conduct property inspections as needed on behalf of owner.
10. Schedule and monitor authorized repairs.
11. Complete eviction process when necessary.
This is an incomplete list of the primary responsibilities of a property manager. In the real world, a good one will be worth his weight in gold. They are your eyes, ears, and caretaker of your investment. At Empowered Investor Network, we can recommend excellent property managers who we have worked with and trust to manage our own properties. We’re real estate investors too, remember?
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