Property management is a profession that includes numerous responsibilities. Examples include the placement of tenants, repairs to property, basic maintenance of the property, as well as administrative tasks associated with the property.
However, maintenance and repairs are considered to be the most consistent of all responsibilities. Maintenance is the act of sustaining the condition of the property that is being managed while repairs aid in the restoration of the property to an acceptable condition.
In this brief guide, we will expound on the roles and responsibilities that you will have as a property manager. If you are able to enter into this new and exciting career, continue reading to learn more.
As mentioned previously, maintenance is the act of sustaining a property. As a property manager, the maintenance activities that you perform will vary.
These activities may include caring for the physical yard associated with the property, correcting plumbing issues, and replacing items that become broken – such as appliances, heaters, and air conditioning units.
In most instances, standard maintenance procedures – such as painting, changing carpets, and pest control measures – will be done during times in which there is no level of occupancy; however, there may be times when maintenance must be performed during the occupancy. It is your job to make the necessary arrangements.
Repairs are most commonly performed during a tenant’s occupancy. These may include fixing leaks, repairing faucets, restoring appliance performance, and electrical work.
Essentially, if it breaks, it is your responsibility to get it fixed as quickly as possible so that it does not provide any unnecessary burdens to your tenants.
The purpose and intent of property managers during the repair process is to ensure that the property is restored to the point where it was prior to the malfunction or complication.
Placement of Tenants and Administrative Tasks
The next two responsibilities that you have as a property manager is the placement of tenants and the administrative tasks associated with the property.
This usually involves screening potential tenants, performing background and credit checks, interviews, handling the paper side or “business” side of the property, and ensuring governmental regulations are met in regard to the property.
You may also find yourself serving as a liaison between those that own the property, personnel that work on the property, and the tenants that reside on the property. Property management is a very rewarding and highly lucrative career.