Residential property managers handle the day-to-day responsibilities of managing rental properties. Their duties may include answering tenant questions, scheduling maintenance, collecting rent, and more.
If you’re an investor, hiring a good residential property manager can help keep your rentals profitable and running smoothly. Here’s what else you need to know.
Top Duties of a Residential Property Manager
If you’re thinking of hiring a residential property manager, it’s essential that you know exactly what they do.
In a nutshell, residential property managers handle all aspects of running rental properties. This includes everything from finding tenants to coordinating repairs.
Here are a few of the principal duties a property manager performs:
Setting and Collecting Rent – A property manager can help you set a competitive rent price. They can also quickly fill your rental properties with quality renters while getting the most profit.
Property managers have hands-on experience with properties in your area. They better understand going-rental rates and can make rate adjustments if needed.
The property manager can also collect rent for you and enforce any late fee policies you adopt.
Screening Tenants – Finding tenants, especially good ones, can be a landlord’s nightmare. Luckily, this is a key role of a property manager. Residential property managers are responsible for attracting and screening quality tenants.
They will also do walk-throughs when a new tenant moves in or out. A residential property manager will enforce tenant rules and hand out eviction notices if needed.
Customer Service – Your tenants are your customers, and your property manager acts as a customer service agent. They handle all tenant complaints and communication.
Staying up to Date on Landlord-Tenant Laws – In California, there are many landlord-tenant laws that you must comply with. Honestly, staying on top of these laws can be a job itself. Luckily, this is a role that a property manager handles.
What Kind of Properties Do Residential Property Managers Handle?
Residential property managers handle all property that tenants can rent residentially. This can include single-family homes, duplexes, apartments, mobile homes, and more.
Some property managers specialize in certain types of residential homes, but most accept all types.
How a Residential Property Manager Can Help You
Are you ready to focus on growing your real estate portfolio? If so, a residential property manager can be a huge asset to your business.
They’ll ensure you’re getting fair rent and will handle all tenant communications. They can even help you increase your reputation by offering outstanding customer service to your renters.
If you want to focus on the property acquisition part of your real estate business, we’ll deal with the rest. Call us at (415) 346-8600, and we’ll answer any questions you have about our property management services.