A property manager definitely puts in the work to ensure all aspects of running a residential or commercial location are going smoothly. If you’re curious about becoming a property manager yourself you might be wondering, “What are the duties of a property manager?”
Below we answer just that.
What Are the Duties of a Property Manager?—Finding New Tenants
One of the major responsibilities a property manager has is finding new tenants to fill up a property. This is typically also the main responsibility of landlords, of which many often outsource this work to property managers to save time and effort themselves.
The role of finding new tenants also encompasses attracting tenants through marketing efforts. Therefore, many experienced property managers are also skilled marketers to draw in prospective tenants.
Property Maintenance and Upkeep
Another regular responsibility of property managers is property maintenance and repairs. They need to ensure a place is kept safe and all systems are functioning normally. Coordinating renovations and contractors are also part of the job description as well. In addition, enforcing agreed upon occupancy rules in addition to tenant complaints is also an important regular task.
A skilled property manager is someone who has excellent diplomatic skills and is great a resolving disputes. With respect to commercial property manager complaints, common complaints will often surround resolving renovation requests, whereas residential property managers will often ease tension with tenants about neighbours and their habits.
Difference Between a Landlord and Property Manager
Landlords and property managers have similar tasks, but the two are still distinct jobs.
The main distinction between the two is with respect to ownership. A landlord will actually own the property whereas a property manager will only handle the daily operations of a specific property. In terms of a hierarchy, a landlord will pay for a property manager’s services.
Oftentimes, a property manager is brought in to help manage a property more effectively—especially for larger locations.
Overall, a property manager has an important role in ensuring a property is well-maintained and running smoothly.