Investment properties are a fantastic way to generate supplemental income, but they also come with extra work: late night phone calls about a plumbing issue, gutters that need cleaning, hot water heaters that aren’t working…the list goes on and on. That’s where property management can help.
Property management is just that—the management of properties. This includes everything from residential to commercial and industrial real estate. Property managers are responsible for the operation, control, and management of real estate that is owned by another party. They act on behalf of that party to preserve the property’s value while generating income.
Owners typically hire property managers for various reasons—not enough time or expertise to manage the property or needing the additional income without directly managing the property. They typically pay property managers a fee or percentage of the rent generated by the property.
A property manager’s responsibilities varies from property to property and is negotiated between the owner and the property manager. Typically, responsibilities include:
–Managing properties and tenants
–Completing preventative and corrective maintenance of properties
–Responding to tenant calls and requests
–Locating and qualifying tenants
–Invoicing and collecting rent
–Advertising rental properties
–Create budgets and balance accounts
–Ensuring that everything complies with local landlord-tenant and real estate board laws.
At Freestyle Real Estate, we provide professional property management services. Whether you are renting a single-family home, duplex or townhome, we are glad to be of service. Call us today for more information.