Each property that is owned by someone has a unique set of job descriptions that come with it. If you are familiar with real estate, you are also probably familiar with the roles that are associated to investment properties you own. One of the important job descriptions for rental properties is property management.
If you rent or bought investment property, such as a single family residence, town-home, condo, or residential income property, commonly known as an apartment building, you more than likely have a property management company associated to it. The property manager's role is to maintain the property. This not only includes regular maintenance, but also includes refurbishing the property when it is needed. If there are problems with the property, it is up to the property manager to ensure that whatever the problem is can be fixed. If the building is old, the property manager will need to determine what to change in order to allow the area to function to its best ability without causing future problems.
The property managers also act as a link between the tenants who are renting, leasing or working towards owning a property and telling the owner what the problem is. If there are maintenance problems or rental payment problems, it is up to the property manager to solve the problem as soon as possible. Some property managers may also have the responsibility of providing accounting in relation to the repairs, capital improvements, or rental payments that are being made.
The property manager provides a level of security that is offered to both owners of a property as well as to the tenants who are renting or leasing the building. By having a property manager in place, it ensures that there will be certain levels of professionalism and care in the building that is being rented. As a result the owner and tenants can invest their time in other endeavors.
Article By: Frank Collins