Property managers and real estate agents are frequently confused with one another. Having said that, real estate agents and property manager’s role is completely different. There are many more differences than similarities between the two professions despite the fact that the housing market is central to both. Rental property owners would do well to familiarize themselves with these distinctions so that they can determine who to call when professional expertise is necessary.
Key Differences
To be exact, a real estate agent is someone who lists and sells properties for their owners. Even though some real estate agents focus on helping buyers find and purchase investment real estate, the agent’s job is still focused on the sales transaction. The current housing market is crucial to the success of a real estate agent. When market conditions change, it’s usual for real estate agents to see fluctuations in their business and revenue. In certain instances, real estate agents may help find tenants for a rental property, but their participation with the tenant and the property owner usually comes to a stop after the lease is signed.
However, a property manager focuses on helping property owners manage their rental properties. Although every property manager is unique, most of them will operate on behalf of a property owner to handle things like property maintenance and repair, tenant screenings, collecting rent payments, etc. A property manager, in contrast to a real estate agent, is engaged in a contractual role and receives payment for their ongoing management services. A housing market downturn is also more unlikely to have a negative effect on property management. As more property owners consider renting an alternative to selling at a loss, property managers find that their workload increases during market downturns.
What Property Managers Do (And Real Estate Agents Don’t)
Besides the basic differences between a real estate agent and a property manager, there are additional duties that top-rated property managers do that real estate agents (and even other property managers) simply don’t. In this case, while a real estate agent and a lot of property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for any indications of problems. A smart property manager will begin establishing rapport with the tenant after a tenant has been screened by encouraging open communication and clearly explaining the lease documents. In addition to handling emergency repairs and tenant complaints, an experienced property manager will also schedule and perform regular maintenance on a property.
Less typical but essential amenities offered by some property managers include assisting property owners in analyzing the local market, determining a precise rental rate, and offering suggestions on maximizing a property’s earning potential and your property’s resale value. They can also help you find and compare additional rental properties, some of which may not even be advertised. Only those with experience in the industry will work closely with rental property owners to assist you in maintaining a property and building an investment business. This is not something you will see very often from property managers.
The Value of a Great Property Manager
One of the nation’s top property management companies is Real Property Management. This is due to the fact that we provide a comprehensive suite of services necessary for investors and rental property owners to realize their financial objectives. Because our experts will assist you in establishing an accurate rental rate and reducing expenses by employing our recommended home services vendors, the majority of our clients discover that the value of our services significantly surpasses the price. This is not the kind of stuff you can find anyplace.
To get more details about Real Property Management Copper State’s services in Gilbert and neighboring areas, contact us online or call 480-681-7709 today!
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