A property manager is typically responsible for:

Tenants and occupants of an owner’s property are at the mercy of the person managing that property. If the manager fails to uphold the owner’s best interests, that tenant could decide to move elsewhere, or even withhold payments (to get repairs done, or to get services like trash pickup). There could be serious consequences for the property management services property owner if this happens.

Not all property managers are equal. Depending on the particulars of the contract, there are some duties that alone are worth retaining a property manager. Without that Busby family manor we discussed earlier, neglecting to oversee the maintenance of said home could result in serious costs. Insurance premiums, mortgage and taxes can go up. Even the simplest repair could cost a bundle. If the property management services home has mould, it could clog the plumbing, requiring a whole new system to correct the problem. And guess what? If it happens to the house next door, guess again. That’s three repairs for just this house.

Understand the responsibilities of both parties to the contract, and the (yes, property manager) manager must ensure the owner’s interests, and the tenant’s interests, are represented in the transaction.

The owner should be made aware of any maintenance that may be needed for the property.

The tenant should be presented with a copy of any contract changes (or issues regarding contract terms that may be different from the ones outlined) prior to the final closing. Any material facts that may affect the down payment or the final contract price should be disclosed to both parties beforehand. In some property management services contracts, the owner may be required to purchase insurance for the property during its term. The contract should clearly state what will happen if this happens, and what the owner will be responsible for.

Also, the contract should require periodic inspections by the manager and the owner. The manager‘s duty to monitor the condition of the property allows the owner to be reasonably informed about the status of the property prior to its final year, thereby allowing the owner to appropriately decide whether or not to retain the property. The property management services owner should then not have to worry about a bill not getting paid or a big surprise at the closing.

For some property management contracts, the tenant may also have access to the owner in the case of an emergency. Property managers do not have access to the owner. If the tenant calls the owner to report a problem, the property management services owner should then be able to respond appropriately.

Property managers are the middlemen between the owner and the tenant. When it comes down to it, there are certain duties that must be kept in mind when hiring a manager. They act, for the owner, as a go-between. Everything goes through them: payments, maintenance, communication, and any other pertinent issues pertaining to the property. Where they are needed, they’re needed. They’re responsible for getting all of the documents organised and transferred to the right persons at the right time. For some property management services owners, this could take a few days or a week, but it’s important to know that the manager will be handling these tasks. This will help the owner sleep better at night!

The manager is responsible for hiring qualified maintenance and repair crew(s) for the property. Additionally, unless additional written contract arrangements are made, a property manager is responsible for performing inspections of the property, and making certain all necessary repairs and changes are made to the property prior to the closing. These property management services duties are yet another reason sword-free transactions are possible.