Landlords often hire property managers for managing their rental properties, but they rarely know all the job responsibilities of a property manager. A property manager can be invaluable for you, if you know what roles he or she must fulfill.
The roles and responsibilities of property managers vary on the basis of their contract and salary. It is important for you to know the job specifications of a property manager in order to get the most benefit of hiring a property management company for managing your rental properties in Fort Worth, Texas.
Marketing Your Rental Property
It is the responsibility of a property manager to advertise your vacant rental property through different media such as flyers, paid and free rental listing websites, newspapers, etc. A property manager should optimize the interior and exterior of your property in order to attract more tenants.
A property manager is responsible to show your rental property to tenants and explain to them the advantages of your property.
Screening and Selecting Tenants
In order to find a tenant that best fits for your property; a property manager should perform a background check of all the prospective tenants and verify their income, credit history, rental history, etc.
Once a tenant is selected, the property manager prepares and leases contract, and ensures that all the necessary provisions to protect the owner have been included in the contract. A property manager also determines the length of the lease contract and the amount of security deposit to be paid by the new tenant.
Dealing with Tenants
A property manager is responsible to collect rent from your tenants at a predefined date. A property manager should enforce payment of late fees, if a tenant fails to pay the rent on time.
In order to minimize vacant time of your rental property, a property manager should keep the tenants happy by giving regular visits to them and listening to their complaints. All the maintenance requests made by the tenants should be entertained in time by a property manager.
A property manager is paid to deal with all the tenants’ issues. If a tenant is very fussy and complaining and creating extra problems for you, it is the duty of a property manager to deal with evictions and find new tenants for your property.
Maintaining Records
A property manager is responsible to keep record of everything related to your property. This involves maintaining cash records which include interest paid on security deposit, maintenance and repair costs, insurance, rental income, advertising expense, etc.
A record of all the tenants and their details, lease contracts, list of repairs done, and complaints by tenants should also be managed by a property management company.
These are some of the responsibilities of a property manager. Experienced property management companies such as Your Texas Realty and Investments provide many more services against an affordable fee. We are experienced in property management, property lease, and property sales.
We not only manage our customers’ properties, we also own real estate in Fort Worth, Texas and therefore can understand the pain of vacant rental properties and high maintenance costs. If you want to know more about services offered by us, you can call us at (682) 233-5660.
