The function of property managers is to maintain control of the properties in an orderly manner. They have to ensure the property managers’ contracts are fulfilled, avoid conflicts, protect the renters, maintain the standards, look after the interests of the tenants, etc. Apart from these duties, property managers have to ensure that the tenants are satisfied and the community is running efficiently. The roles of property managers include supervising day-to-day activities of tenants, collecting rents, collecting payments, conducting periodic property inspections, and dealing with issues like evictions, rent reviews, lease termination disputes, repairs and renovations, among others. They also deal with disciplinary issues and conduct background checks on job applicants.
The responsibilities of property managers cover a wide area including rental housing, condos, vacation rentals, owner financed homes, industrial centers, office buildings, retail centers, strip malls, office towers, hotels, motels, private housing agencies, hotels, etc. In short, it can be said that property managers are responsible for all the rental housing, condo ownership, vacation rentals, commercial realty, and private housing under the jurisdiction of their contract. They are also responsible for making the owner funds work in the proper way, keeping the property maintained and looking after the interests of the tenants.
A property manager has to ensure that all rental properties are managed in accordance with the provisions of the rental property laws. It is not only the responsibility of the property manager to make sure that the laws of the state are followed, but the property managers also have to work with the owner in case any legal issues arise. Usually, the landlord-tenant laws of the state are specified in a lease agreement. These laws are then incorporated in the contract by the property manager. Apart from these, property managers also have to work with the management and supervisory staff of the property, assist in the advertising and promotion of the rental properties, take care of the inventory of the property, follow the rules and regulations of the community, and keep track of any complaints that may come up against the owners.
Apart from these, property managers also have to take care of the tenant and follow the rules and regulations of the community. For instance, if there are any rules that prohibit smoking in the premises, then the landlord-tenant laws clearly state that smoking in the premises is prohibited. Similarly, a tenant might not smoke inside the house but outside the house. Similarly, landlords have to make sure that the tenant does not employ others to work at their houses, such as carpenters, plumbers or painters.
In addition to all these responsibilities, property managers also have to conduct regular inspections, which are known as vacancy surveys. This is to ensure that the premises are safe for the tenants and are in good condition. If the vacancy rate is above twelve percent, it is imperative to conduct an inquiry. The reason for conducting these inquiries is to ensure that there are no safety hazards for the investors.
Property managers are responsible for paying for the total maintenance cost of the rental homes. They have to take into account the rent received, the repairs made and the taxes and insurance on the structure. They also have to take care of the tenants by providing them with prompt assistance whenever required. However, some property managers work on a part-time basis with the income coming in from rental fees. These owners need to justify to the investors why they should be paid the same amount even when the income from the rentals is less.
The job of property managers is very demanding because they have to handle the issues between the tenants and the landlords and constantly negotiate for the best deals. It is important that they are not perceived as pushy as this can lead to bad relationships with the tenants and the landlords. Good communication skills and patience are necessary for these managers to collect rent on time and keep the peace within the establishment.