Being a property manager can be a lucrative career decision, but not everyone is cut out for this job so you shouldn’t jump into it without carefully investigating what is involved.
Property management requires a great deal of organization and people skills as you?ll have to juggle many units and tenants. Finding the right tenants is just the beginning of the job as you’ll then have to keep them happy, maintain the units, handle insurance issues, and any conflicts that arise. You may also have to evict tenants, which requires a personality that can adapt to the situation and to the personalities of your renters, it also requires a lot of patience.
It?s important to become familiar with the local laws in your state and community regarding tenant rights and a landlord’s obligations. Since you will, in effect, be filling in for the landlord in many respects, especially evictions, these responsibilities ill fall on you.
Before becoming a manager for a bunch of different properties, consider handling one place on a part-time basis, to get a better feel for how much work is involved. If possible, work out a deal with the company so you get a discount on rent and it turns into a win/win situation for everyone, you gain the experience and they get a deal on a property manager.
photo credit: sxc