So, you’ve just sealed the deal on a new lease at a new house and you can’t wait to move in. Hold up. There are a few things to address, starting with getting acquainted with your property manager and their duties to both you and the owner of the house you’ve just received the key for. Here is a list of property manager duties to keep in mind.
Benefits for the owner
- They will provide regular maintenance and repairs for the building, making owning a property more time efficient.
- A landlord can reduce some of the responsibilities involved with the house by outsourcing them to a third party.
- They can help the owner manage the tax reporting and responsibilities involved on the financial front.
- The owner doesn’t have to advertise or show the property
- A certified property manager is responsible for being aware of all Landlord/Tenant laws for your city- not you.
- You do not have to make repairs, (roof, ceiling, deck, etc) nor will you have to repaint any part of the house
- You do not have to worry about purchasing any necessary amenities- such as a mailbox or front door- these should be purchased and covered by the property manager and the owner.
- You won’t have to deal with trying to contact the owner at 2 in the morning when a pipe breaks.
- Top property managers will most likely maintain the yard during the summer (mowing), and snow removal in the winter
- Paying the monthly (or yearly) rent will be easier than hunting down the owner and handing them a check- most property management companies will have an online payment system
Obviously, it must be noted that property owners do have to pay property management fees to property management companies, but these fees are generally fairly small; you will still be making a profit from your rental charges. There are also benefits for the renters when it comes to property manager duties.
Benefits for the renter
So go ahead and be excited about signing that lease, because now you can rest easy knowing that property manager duties cover a wide variety of issues. And as an owner, it’s always a relief to know that there are less duties to attend to.
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