Residential property managers help investment property owners and homeowners in preserving and increasing the value of their real estate investments. They manage the day-to-day financial operations of the property, including finding and placing qualified tenants, and they ensure the property is in good working order.
Marketing- keeps properties occupied with qualified tenants through advertising, lead follow up, property showings for prospective tenants.
Tenant Relations- develops rental agreements, selects qualified tenants, collects deposits and rents, enforces terms of rental agreements, resolves tenant complaints, oversees eviction proceedings if necessary.
Facilities Management- schedules maintenance and repairs, negotiates contracts with vendors, regularly inspects property to ensure it is in good working order, quickly resolves emergency maintenance issues.
Financial Reporting- keeps financial records from property operations, creates monthly financial reports for property owner.
Owner Relations- keeps open dialogue with property owner on vacancies, tenants, physical condition of property, financial issues.
Knowledge & Skills Needed
- Familiar with applicable local, state, and federal laws and regulations
- Strong interpersonal & business communication skills
- High level of organization and attention to detail
- Competence with office management software
- Knowledge of financial reporting
- Licensed Real Estate Broker (in most states)
$35,000 – $65,000 depending on experience and location.