Hi, I’m Faye with Residential Property Management in Portland. Today we are answering a question that people frequently ask us: “What does a property manager do?”
Property managers handle the entire process of leasing your rental property. This includes managing the property and also managing the relationship with your tenant. Each area of property management requires different skills and systems, and it’s important that a property manager is up to date on all the laws and regulations specific to where your rental property is located.
When a property manager leases your property, there are descriptions to write and pictures to take so the rental can be properly advertised. It’s important to promote your house and put it in the best marketing position possible. Property managers will also show your home to prospective renters and answer any questions they might have about the house.
Tenant screening is another role property managers fulfill, and it’s a critical one. It’s important to treat all applicants the same so you don’t violate any fair housing laws. That means establishing standard rental criteria and measuring each applicant against that criteria. After a thorough screening process, your property manager will carefully document the condition of the property prior to the tenant obtaining the keys. Then, the tenant will sign a lease and any necessary addenda. You need a lease that is comprehensive and up to date so you and your property are protected.
During the tenancy, a property manager will take care of any and all maintenance and repair issues. Any lease violations will be handled professionally, and the manager will visit the property regularly to conduct inspections. Property managers collect rent and pay expenses on your behalf. There will always be extensive communication between all parties, and the property manager will ensure that all necessary information is shared in an efficient manner.
After your tenant vacates, property managers will conduct a move out inspection and make decisions about what needs to be repaired or replaced before a new tenant moves in. There will be a proper accounting of the tenant’s security deposit and if any money is being withheld from that deposit to pay for damages that were left behind, the property manager will explain that to both the tenant and the landlord.
Then, the process starts all over again.
A full service professional property manager performs all the duties required of a landlord to protect the property and keep the landlord and the house compliant with all local, state and federal laws and regulations.
If you have any further questions about what a property manager does, please feel free to contact us at Residential Property Management.