A property manager and a landlord make a good team when tasks are carried through and done. This article is written to help you understand their individual responsibilities and how they both serve each other to create a satisfying housing experience for you.
A landlord is the owner of real estate; a rental house or apartment building. A landlord’s job is to provide habitable rental housing. This includes: maintaining plumbing, gas, heat and water facilities. They are responsible for the building’s ability to function properly so the tenant can live safely and comfortably.
A property manager is a third-party who manages the property (they can manage any type of property). The property manager sets, collects and adjusts rent. When it comes to tenants, property managers are a lot more involved than landlords. Property managers find, screen and deal with tenants and tenant complaints. A property manager is also on the front line when it comes to property maintenance and repairs.
Most landlords are occupied in owning and searching for rental property as well as the income they receive, and this leads to leaving no room for them to deal with the demands of maintaining properties and dealing with tenants. Landlords are ultimately aiming to be compliant with all state and local building and health codes. A property manager takes over this gap of responsibilities, making it easier for both the landlord and the tenant.
Landlords own properties, property managers are hired by landlords to supervise and manage these properties. The manager gets paid by the landlord for the service, either a flat fee or a percentage of the rent collected by the landlord. A landlord doesn’t receive a salary and only makes money off his/her rentals if they are profitable.
Moving forward you will know the difference when making a decision as to management of your property. In 99% of the cases, a property manager will drive more revenue, save more costs in rentals, and ensure an overall ROI.