photo credit: desi.italy
As a landlord, you might have some questions about which duties you can pass along to a property manager and which ones you should take care of yourself. Here are some of the common duties that can typically be safely handled by the property manager:
Financial duties. The main thing here is that the property manager will be the one collecting rent checks. He may also be the one sending out late fee notices if those rent checks don’t come in. Before a tenant moves in, it is perfectly fine to have the property manager handle any credit checks.
Maintenance duties. If you have a property manager who also does maintenance, that’s great. If not, you can hire a maintenance company and allow the property manager some liberties in working with maintenance to take care of problems as they arise. It’s a good idea to establish a maximum payment that you’re willing to make without consultation. In other words, let the property manager call the maintenance guy to unclog a toilet but make sure that you’ll be consulted before major bathroom repairs are done.
Property showings and openings. The property manager can be responsible for advertising rooms that are available for rent as well as for showing those rooms to potential tenants. The property manager may also be the one to open the building for construction workers and others who need to get in.
The main thing to realize is that you’ll want to establish a trusting relationship with your property managers. That way you can feel secure in letting them handle most of the activities occurring on the property. However, you should always check in regularly to make sure that you really know what’s going on at your place.