When hiring a rental property manager, it is beneficial to understand the job description. He or she could be responsible for everything from marketing and screening tenants to setting the rental price to handling all the maintenance required on the property.
Rental Property Manager Job Description
Setting the rental rate
He or she must have knowledge about the area, the rental rates for comparable properties and current vacancy rates in order to set rental fees that will attract and keep tenants while making money for the property owner.
Collecting rents
A property manager is an enforcer of a kind and as such is responsible for the collection of rents. If a problem occurs, he or she is responsible to provide a late notice and apply a late fee if that is part of the contract.
Responsible for tenants
The manager is responsible for finding and screening tenants, handling tenant complaints and, unfortunately, enforcing eviction notices when necessary. A good property manager will use effective screening methods like credit checks and criminal background checks to find the right tenants for the rental property.
Handling the lease
He or she will be responsible for setting the length of the lease and making sure the provisions in the lease protect the owner. Determining the amount of security deposit and collecting the deposit are also important aspects of this responsibility.
Handling maintenance, emergencies and complaints
The property manager must be able to handle maintenance requests either by taking care of it himself or having the necessary contacts to do so. He or she also must deal with tenant complaints. The manager must ensure they either take care of snow removal, lawn maintenance, pest control and safety standards or they must hire suitable staff to do the work.
Supervising of employees
The property manager is in charge of the employees and must make sure the work is being done. They can set wages and hire or fire staff accordingly.
Handling move-outs and move-ins
When a tenant moves in, the property manager is responsible to show the apartment and make note of any repair required or damage, along with the tenant. When the tenant moves out, he or she will be also responsible for inspecting the unit to determine what portion of the security deposit can be returned to the tenant.
When a property is vacant, the property manager will ensure the unit is clean and all damages repaired prior to renting the property to a new tenant.
The property manager must have a good knowledge of the local Landlord and Tenant Laws and when necessary know the steps needed to evict a tenant.
Keeping Records
Keeping accurate records is an important part of the property manager’s duties. An accurate listing of all income and expenses as well as deposits must be kept at all times. Copies of signed leases, maintenance requests, complaints, repair costs, rents collected, inspection reports and full records of repairs done and their costs are all required to be available to the owner especially at tax time.
Property management is a challenging career with substantial responsibility. Ideal candidates will possess not only all of the aforementioned skills, but excel at interpersonal relationships as well.
Son-Rise Property Management is a full service property management company located in Bellingham, WA. Contact us today to see how we can help you find the perfect home to rent or manage your property.
