{"id":365,"date":"2018-05-07T14:52:10","date_gmt":"2018-05-07T14:52:10","guid":{"rendered":"https:\/\/www.cincyrents.com\/blog\/?p=365"},"modified":"2024-03-20T18:26:53","modified_gmt":"2024-03-20T18:26:53","slug":"the-role-of-a-property-manager","status":"publish","type":"post","link":"https:\/\/www.cincyrents.com\/blog\/2018\/05\/07\/the-role-of-a-property-manager\/","title":{"rendered":"The Role of a Property Manager"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">A property manger, whether an individual or company, is a third-party hired to handle the daily operations of a real estate investment.<span class=\"Apple-converted-space\">\u00a0 <\/span>Responsibilities and roles of a property manager or property management company may vary depending on your arrangement.<span class=\"Apple-converted-space\">\u00a0 <\/span>Refer to company\u2019s specific <a href=\"https:\/\/www.cincyrents.com\/menu.php\"><span class=\"s2\">property management services<\/span><\/a> for details.<span class=\"Apple-converted-space\">\u00a0 <\/span>The size of the rental property, ranging from a one bedroom apartment to full story complexes will also play a major role in services offered.\u00a0<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The role of the property manger may include:<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Rent Collections and Payments<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">A main role of property management companies is to manage the collection of rent from current tenants.<span class=\"Apple-converted-space\">\u00a0 <\/span>Property managers are in charge of setting dates and enforcing rents due each month to keep an owners cash flow optimal.<span class=\"Apple-converted-space\">\u00a0 <\/span>This can include the collection:<\/span><\/p>\n<ul>\n<li class=\"p1\"><span class=\"s1\">Application fees<\/span><\/li>\n<li class=\"p1\">Pet fees<\/li>\n<li class=\"p1\">Deposits<\/li>\n<li class=\"p1\">Monthly rent<\/li>\n<li class=\"p1\">Other monthly expenses<\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">Property managers may also handle payments on behalf of the property owners including:<\/span><\/p>\n<ul>\n<li class=\"p1\"><span class=\"s1\">Mortgage<\/span><\/li>\n<li class=\"p1\">Insurance<\/li>\n<li class=\"p1\">Tax<\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\">Property managers are also knowledgeable in lease costs in different areas.<span class=\"Apple-converted-space\">\u00a0 <\/span>Property owners can take advantage of a managers knowledge on setting the best rents to attract tenants to the property.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Property Marketing and Advertising<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Professional property management teams will ofter leasing staff services to handle the marketing and advertising of a vacant property.<span class=\"Apple-converted-space\">\u00a0 <\/span>Advertising and marketing can include digital formats such as their own website, social media,<span class=\"Apple-converted-space\">\u00a0 <\/span>pay-per-click advertising campaigns, etc as well as hand held traditional marketing pieces to get the word out about new vacant listings and their features. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Often included with this aspect of property management is the handling of all property listing inquiries via phone or email in order to schedule individual showings.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Property managers want to see the space filled as soon as possible, just like the owners do.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Screening Tenants <\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Since property managers will be receiving all inquiries and scheduling of showings of the property, they might as well handle the screening of tenants as well.<span class=\"Apple-converted-space\">\u00a0 <\/span>Screening processes can include background and credit checks.<span class=\"Apple-converted-space\">\u00a0 <\/span>Property managers are also experienced in handling tenants and have typically gained a good feel for what makes a good or bad tenant for specific properties.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Responding to Maintenance Requests<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Another high priority role of property mangers is to handle renters\u2019 maintenance requests.<span class=\"Apple-converted-space\">\u00a0 <\/span>Most property management companies will include both regular maintenance work to keep the property in good condition as well as emergency requests from renters.<span class=\"Apple-converted-space\">\u00a0 <\/span>This requires a 24-7 maintenance staff that will handle all calls, scheduling of the work, coordination of subcontractors, purchasing of materials needed to complete the work, and reporting of completed work to the property.<span class=\"Apple-converted-space\">\u00a0 <\/span>Most property managers already have a good working network of reliable plumbers, electricians, and carpenters to complete repairs in a timely and cost efficient manner.\u00a0<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Handling Move Outs and Evictions<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">When a renter\u2019s lease has expired on a property and it is time to move out, the property manager is responsible for coordinating and inspecting the now vacant property.<span class=\"Apple-converted-space\">\u00a0 <\/span>It is their job to settle any unpaid rents, distribute back deposits, and inspect for any damages.<span class=\"Apple-converted-space\">\u00a0 <\/span>They are also responsible for cleaning up the unit and preparing it for the next tenant or listing for advertising.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">If a breach of a property\u2019s lease has occurred, it is the responsibility of the property manager to deal with evicting the current renter.<span class=\"Apple-converted-space\">\u00a0 <\/span>He or she will handle the eviction of the tenant in preset procedures that correspond with the law.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Maintaining of Property Records<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Property managers should maintain accurate and complete records of all properties managed.<span class=\"Apple-converted-space\">\u00a0 <\/span>These records should include:<\/span><\/p>\n<ul>\n<li class=\"p1\"><span class=\"s1\">Property income and expenses<\/span><\/li>\n<li class=\"p1\">Completed inspections<\/li>\n<li class=\"p1\">Signed leases<\/li>\n<li class=\"p1\">Maintenance requests<\/li>\n<li class=\"p1\">Complaints<\/li>\n<li class=\"p1\">Completed repairs<\/li>\n<li class=\"p1\">Collections<\/li>\n<li class=\"p1\">Property insurance<\/li>\n<\/ul>\n<p class=\"p1\"><span class=\"s1\"><b>Managing of Property Budget<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Each property should have a budget assigned to it to which the property manager and owner have agreed to operate under.<span class=\"Apple-converted-space\">\u00a0 <\/span>It is the responsibility of the property manager to manage the property within this budget on behalf of the owner.<span class=\"Apple-converted-space\">\u00a0 <\/span>This may include any maintenance requests or emergency situations.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\"><b>Conclusion<\/b><\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Property managers or management companies play a big role in the day to day operations of owning a real estate investment property.<span class=\"Apple-converted-space\">\u00a0 <\/span>It is wise for owners to sit down and review options and packages such companies offer when requiring management to fit your properties needs the best.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">If you are in the Cincinnati area and looking for a property management team, <a href=\"https:\/\/www.cincyrents.com\/contact.php\"><span class=\"s2\">contact Cincy Rents<\/span><\/a>.<span class=\"Apple-converted-space\">\u00a0 <\/span>Our <a href=\"https:\/\/www.cincyrents.com\/services_management.php\"><span class=\"s2\">extensive property management service packages<\/span><\/a> and knowledgable team will assist you in managing your Cincinnati based home or apartment.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A property manger, whether an individual or company, is a third-party hired to handle the daily operations of a real estate investment.\u00a0 Responsibilities and roles of a property manager or property management company may vary depending on your arrangement.\u00a0 Refer to company\u2019s specific property management services for details.\u00a0 The size of the rental property, ranging [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[4,60,61],"tags":[],"class_list":{"0":"post-365","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-cincinnati","7":"category-landlords","8":"category-property-management","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Role of a Property Manager | Cincy Rents Blog<\/title>\n<meta name=\"description\" content=\"The role of a property manager includes background checks, rent collections, maintenance requests and more. 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