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What does a Property Manager Do?
A property manager’s job is a varied one, but what will interest you most is what you can expect your property manager to do for you – whether you are a landlord or a tenant. The shortest answer to the question would be “A property manager does everything a landlord ordinarily does, plus a bit more.” Admittedly, that doesn’t tell you a lot, and there’s more to what a property manager does than just collecting rent, so let’s go into the details using just one house as an example.
We Contract with the Property Owner
When a property owner approaches us, the first step is a consultation in which we discuss the possibility of a business relationship. That means going through lease and service options, costs, and benefits so that he or she understands our service.
Naturally, we also need to inspect the property so that we can give our prospective client specific details such as how much rent to expect, and what work should be undertaken on the property before getting a tenant.
Now, we’re ready to enter into an agreement, and so is the property owner.
We Market Properties and Screen Applications
First, we get the property market-ready. We make sure that all legal requirements are seen to, and that everything is fully functional, fresh, and clean. Once the property is ready for its new tenants, we can market it with all the many tools at our disposal. We also make ourselves available to show possible tenants the properties that are most likely to suit their needs.
Finding prospective tenants in Hobart isn’t hard, but we don’t just accept them at the drop of a hat. It’s very important to check their background, including their tenancy history and ability to pay rent.
We Shortlist Possible Tenants for the Property Owner’s Approval and Finalize the Lease
Once we’re confident that we’ve found good tenants, we shortlist their applications and make recommendations. The property owner has the final say as to who their new tenants will be. Now, we are ready to finalize the lease with the tenant, do a formal inspection with the tenant present, and collect the bond and the first rent payment.
We Carry Out Regular Inspections
Six weeks after the new tenant as moved in, we carry out our first inspection. After that, we will inspect the property every three months. The inspection process benefits both the property owner and the tenant.
Our expert property managers check for faults that are just beginning to develop, ensuring that they’re fixed before they become a major inconvenience or expense. We also ensure that the tenant is living up to the terms of the lease and is doing all the necessary upkeep to keep the home in good order.
We Deal with The Companies Who Help to Maintain the Property
Because we bring them so much work, contractors love having us as clients and often offer better rates. We evaluate the results of their work to ensure that it’s up to standard, and keep both the tenant and the property owner informed as to what is being done and what progress the contractors have made.
Landlords and tenants love this service since they don’t have to go to any effort to be sure that necessary maintenance is done and done well.
We Make It Easy to Pay Rent – And Get Tough if Tenants Default
We rarely have trouble with non-payment of rent because we screen tenants so thoroughly, but if a tenant defaults on a lease agreement in any way, including payment of rental owed, we take the necessary steps. Sometimes, it’s just a matter of securing payment. At others, we may need to proceed with eviction.
Final Inspections at the End of the Tenancy
Finally, the lease runs out and the tenant or landlord decide they won’t renew it. Now it’s time to perform another very thorough inspection to make sure that any damages, clean-ups, or wear and tear the tenant is liable for are charged to his or her account.
It’s amazing how many small admin tasks and extra services go along with the bare-bones basics of a property manager’s job. For example, we help property owners to get good insurance policies, match tenants to houses based on things like proximity to schools, and provide help, advice and information as needed.
In short, we do everything we can to give property owners peace of mind and tenants a comfortable stay. Wondering what a property manager does? You won’t find a more complete suite of property management services than you will when you work through Baxton Property management in Hobart.
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We hope you enjoyed this article
The information contained in this article is based on the authors opinion only and is of a general nature which is not indicative of future results or events and does not consider your personal situation or particular needs. Professional advice should always be sought relevant to your circumstances.
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