Responsibilities of a Property Management Company: Nick Caffey

1. Responsibilities of a Property Management Company: Nick Caffey When you own investment property, hiring a professional property management company as Brickleys Property Solutions to look after your asset is better than handling everything yourself, particularly if you have more than one property. You may know that property managers exist, but you might not know what exactly a property manager does. “A property manager is a third party who is hired to handle the daily operations of a real estate investment. They can manage all types of properties, from single family homes to large apartment complexes” Nick Caffey. The responsibilities of a property manager will vary based on their salary and the specific terms of their management contract, but can include the following: Responsible for Tenants One of the main responsibilities of the property manager is to manage tenants. They are involved in all capacities, from finding the tenants and dealing with complaints to initiating evictions. Finding Tenants- property managers are responsible for marketing the property to fill vacancies. They know where to advertise and what to include in their ads. They also understand what attracts tenants, so they can suggest making cosmetic improvements to help makeover the property. Screening Tenants- they are responsible for sorting through the prospective tenant applications to find the tenant that is the best fit for your property. Handling Leases- they are responsible for setting the length of the lease and making sure it has all the necessary provisions to protect the owner. Responsible for Maintenance and Repairs Property managers are responsible for the physical management of the property, including regular maintenance and emergency repairs. Maintenance- they are in charge of performing preventative property maintenance to keep the property functioning in top condition. For example, they are personally in charge of, or must hire someone to, exterminate, check for leaks, landscape, shovel snow and remove trash. This maintenance aims to keep current tenants happy and attract new tenants.

2. Repairs-when there is an issue, the property manager must attend to it themselves or must hire someone to attend to it. They often have a large network of reliable plumbers, electricians, carpenters and other contractors Responsible for Taxes The property manager can assist the property owner with understanding how to file taxes for the investment property. The property manager can also file taxes for the property. Leases The property management company is responsible for drawing, negotiating and signing leases on behalf of the property owner. This is a legal binding document that holds the lessor responsible as well as the tenant responsible for their part of the agreement. Inspections The property leasing company should perform regular inspections of the property to ensure all tenants are treating the property within the terms of their lease. The property should be inspected for the condition of the foundations, roof, plumbing, landscaping, etc. Notices: The leasing management company will distribute notices to the tenants frequently in the form of a friendly Newsletter and inform them of any community activities, important issues and urgent matters. Things that could be included here could be upcoming building inspections, pest control treatments, scheduled "water shut-offs" etc. As the owner, you will need to give your permission for the custodian to handle things as they see fit or state clearly any limits and stipulations you may have. If you are a landowner or homeowner wanting to rent your property connect with Brickleys Property Solutions today. Brickleys Property Solutions are New Mexico’s complete property management company and will protect and take care of your investment. For more info visit: https://www.franchisehelp.com/franchises/brickleys-property-solutions/