What Is the Role of Property Managers?
While landlords are constantly making decisions regarding their properties, one of the biggest decisions you’ll make as a landlord is choosing whether you should hire a property manager or not. Oftentimes, landlords need additional help when it comes to taking care of their buildings and tenants. This is where a property management company comes in. What do property managers do, exactly? Below is a short list outlining the responsibilities of a property manager and how the role of property managers can be a great asset to the management of your investment property.
What Does a Property Management Company Do?
As a landlord, you can hire a property management company for a single task, like collecting rent or finding the right tenants for your building. You could also hire a property manager to take care of all the operations for your space for rent, including property maintenance.
Setting, Collecting, and Adjusting Rent
A property manager can set the rent to the right level, collect and ensure optimal cash flow and late fees, as well as increase rent if necessary. This alone can take a great deal of stress off of a landlord’s shoulders.
Respond to Maintenance Requests
Maintenance requests are undoubtedly one of the biggest pain points for landlords. A residential property management company is there to handle requests, complaints, emergencies that happen after-hours, maintenance issues, and more.
Finds the Right Tenants
Finding good, reliable tenants can be another issue a landlord may not have the time to do on their own. The manager is there to handle phone calls, applications, screenings, background checks, walk-throughs, approvals, denials, and even follow-ups.
Properly Market Your Property
A reputable property management company has plenty of connections to all the right people. While a landlord can post that they have a rental property up for grabs on their social media channels, a company can generate leads from several channels. This outreach includes social media channels, listing services, real estate connections, and more.
Keep Up to Date with the Law
Each state has its own tenant-landlord laws, which cover screenings, evictions, lease terminations, deposits, rent collection, and more. By hiring a property management team, you’re saving yourself from being vulnerable to a lawsuit. They also know how to properly address these issues as they arise.
Property Manager vs. Landlord
While the role of property managers and landlords are similar since they perform some of the same duties, the property manager is essentially the middleman between the owner of the property and the tenant. Like any other investment in life, your rental property in New Jersey should be taken care of the right way. A property manager may be more beneficial to you and your rental as opposed to managing everything on your own as the landlord.
With a Central Jersey property management company like Tverdov Housing, you’ll receive constant communication, professionalism, knowledge, and experience. We serve Middlesex, Union, and Somerset county with our property management services in New Jersey. Whether you live in the area of Central Jersey or you no longer live nearby, we’ll take care of your property from A to Z. Contact us to get in touch with our professional property maintenance and management team at Tverdov Housing today.