What is a Property Management Company and What Does it Do (1) (1)

1. WhatisaPropertyManagementCompanyandWhatDoes itDo? • Before deciding whether or not you will need a property management company, it is essential to understand their roles. That way, you can make an informed decision that suits your needs and properties. • Ifyou'reentertainingtheideaofgettingprofessionalhelpforyourrentalbutstillaskingyourself, 'What does a property management company do?', you're at the right place! In this article, we'll walk youthroughtheroleofapropertymanagerandtheireverydaydutiesandresponsibilities. • WhatisPropertyManagementCompany? • A Property Management Company is a business or organization that manages real estate and rental properties. Property managers handle leasing, collecting rent, maintenance issues, tenant relations, and compliance with relevant laws for their clients. Property Management Companies have experiencedprofessionalsknowledgeable about allaspectsofpropertymanagement. • WhatDoesPropertyManagementCompanyDo? • Property managers typically manage a property's day-to-day operations, including screening tenants, collectingrent payments, and handlingmaintenanceissues. Property management companies also handle legal tasks such as evictions and preparing leases. In addition, property managers mayoverseemultiple properties forone or moreclients. Property Management Companiesstrive to maximize returns on investments while minimizing costs and liabilities for theirclients.Propertymanagershandletasks suchas: • Property Market Research and Analysis - Property managers use market research to determine the most appropriate pricing structure, which helps landlords maximize profits while keeping tenants satisfied. • Property Showings - Property managers coordinate with prospective tenants to scheduling showings of available properties, evaluate tenants to ensure they meet the criteria established by the owner,andconductlease negotiations. • Property Maintenance - Property managers are responsible for ensuring that all maintenance needs at a rental property are met, including scheduling repairs and preventative maintenance asnecessary.Propertymanagers mayalsoberesponsible forcoordinatingwithoutside contractors whenmore specializedworkisneeded.

2. PropertyRentCollection-Propertymanagersareresponsibleforcollectingrentpaymentsfrom tenants, tracking tenant accounts, and ensuring that all late fees and other relevant charges are paid when due. Property managers may also provide tax advice to landlords regarding rental income. • PropertyLegalCompliance-Propertymanagersmuststayuptodateonapplicablelawsrelated to rentalproperties,including tenant-landlord laws and regulations, fairhousinglaws, rent control regulations, building codes, and health and safety regulations. Property managers must also ensure that all paperwork related to rental properties is kept up to date and in compliance withthese laws. • Property ManagementCompaniesare aninvaluableresourceforlandlordswho wanta professional to manage their rental property. Property managers can help landlords maximize profits and minimize liabilities. Property management companies can also provide invaluable adviceandassistanceregardingtenant relations, rentcollection,maintenanceissues,legal compliance,andmore. • Are you in search of a Property Management Company in Seattle? Davis Management Group, LLCisahighly recommended PropertyManagementCompanyproviding expertproperty managementservicestailoredtothe needsofyourpropertyandinvestment strategy.