Property manager

From ArticleWorld

A Property manager or real estate manager is a person who oversees the performance of income-producing residential or commercial properties for property owners who either lack the expertise required to take care of the property themselves or are not interested in doing so. Property managers not only look after the property they also ensures that real estate investments reach their expected revenues.

Kinds of property managers

Typically there are two types of property managers, commercial and residential; however, complexity and variety in the real estate business has resulted in other types of property managers.

A commercial property manager looks after income producing commercial properties like retail or office spaces, shopping centers, industrial spaces and storage facilities.

A residential property manager looks after income-producing residential properties, such as single-family homes, duplexes, townhouses, apartment complexes and mobile home parks.

A third type of property manager called the community association manager manages the common property and services of condominiums, cooperatives, and planned communities. Another type of property manager is called an asset property manager; he supervises the preparation of financial statements and prepares reports concerning the rental property.

Duties

Property managers are responsible for day-to-day operations for property to make sure that the property is safe and properly maintained. They are also involved in routinely inspecting the grounds, facilities, and equipment to establish if repairs or care is required. Property managers are not only involved with the existing tenants but also maintain relations with prospective clients. They are also responsible for enforcing lease agreements along side collecting rent, handling complaints and tying up loose ends of agreements.