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What Is a Property Manager Responsible For?

1. Managing Rent

One of the most basic responsibilities of any landlord is collecting rent.

  • Collecting Rent: A system for collecting rent from tenants will be set up by the property manager. In order to ensure the best cash flow, a date will set to collect rent each month and will be strict with late fees.

  • Adjusting Rent: According to individual state/municipal lase, a property manager also has the ability to increase the rent each year. They can decrease the rent if they feel it is needed as well.

2. Managing Tenants

Another one of the main responsibilities of a property manager is managing tenants. They take care of finding and screening potential tenants, managing daily complaints and maintenance issues. Property managers also take care of tenant move outs and evictions.

  • Finding Tenants: They are in charge of filling vacancies and understand what interests’ tenants and can present ideas to help makeover the property. Property managers will create advertisements for the rental property.