What does a property manager do?

What does a property manager do?

by RETS | March 1, 2019
What does a property manager do?

Many people already know what sales representatives do in a real estate agency. Sometimes, however, they are not so familiar with what a property manager is, and what they do.

Property managers are very busy people in a real estate agency.

Some of their tasks include:

Responsibilities with regards to rent- setting rent levels, collecting rent, developing strategies to recover rent in arrears, adjusting rent- reviewing rent for potential rent increases, or even decreases, where the market has had a downturn.

Tenant responsibilities- Marketing a property to locate a tenant, screening tenancy applications, selecting the best tenant, negotiating lease conditions with tenant, drawing up and supervising the signing of the tenancy agreement, handling tenant issues during the tenancy, handling termination of tenancies including what happens with the rental bond. 

Repairs and Maintenance responsibilities- handling maintenance requests from tenants, creating work orders for tradespersons and reporting back to the landlord about the repairs. This includes complying with safety requirements for rental properties and handling emergencies.

Carrying out inspections- tenant moving in inspections, tenant exit inspections, routine inspections during tenancies

Handling Monies- using property management software to account for monies received, and keeping thorough records of all trust monies, and payments made by and to the landlord. 

The number of properties being rented is on the increase each year, so experienced property managers are in great demand.

If you are interested in becoming a Property Manager or to find out more click here.