What Is a Property Manager? (US)
Property Management , ,

What Is a Property Manager? (US)

A property manager is an individual or company that is hired to oversee the day-to-day operations of a unit of real estate. Property owners and real estate investors typically hire property managers when they are unwilling or unable to manage the properties themselves. The cost of employing a property manager is often tax-deductible against the income generated by the property. Apartment complexes, retail malls, and business offices are common types of commercial property that are run by property managers. KEY TAKEAWAYS: A property manager is an individual or other entity that is hired by a property owner for the purposes…
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Property Management 101
Property Management

Property Management 101

Owning a rental property can be a great source of additional income. However, it also comes with the added responsibilities of property management, including upkeep, repairs, and marketing. If you’re asking yourself “do I need a property manager?” — consider these eight benefits of using a property management company. A property manager will: Screen out problem tenants One of the biggest benefits of property management is that the property manager will handle tenant screening. Experienced property managers see hundreds (or thousands) of applications, so their trained eyes are more likely to notice potential red flags when reviewing an applicant’s paperwork.…
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When Should You Hire a Property Management Company?
Property Management

When Should You Hire a Property Management Company?

Although hiring a property management company has many advantages, using one can be expensive. And, even apart from the cost, relying on a property management company is not for everyone. Consider the following factors to determine if hiring a property management company would be a good decision for your business. You should consider hiring a property management company if: You have lots of properties or rental units. The more rental properties you own and the more units they contain, the more you're likely to benefit from a management company. You don't live near your rental property. If your rental property…
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