Suppose an individual purchases a property and doesn't have the time, knowledge, or experience to manage it daily. In that case, they hire a property manager to handle the business activities. Simply put, the job of a property manager involves becoming an intermediary between the property owner and the tenant and taking on the responsibility of the property's maintenance, operations, and administration. The duties of a property manager often depend on the rate at which they are paid, the type of property they manage, and the terms of the agreed management contract. The primary job of a property manager is to handle the daily activities of a unit of real estate. They are required to have a working knowledge of the laws and regulations of the industry of the property they are managing, whether it is residential or industrial housing. Overseeing the maintenance, rent collection, budgets, and rental property records is their primary objective as they work per the property owner's goals. It is also essential that they familiarize themselves with the state and federal laws that govern dealing with tenants, including screening tenants to handling security deposits, conducting evictions, and terminating leases.

1. The Fundamental Roles of a Property Manager
Stuart Hansen

2. Introduction
Suppose an individual purchases a property and doesn't have the time, knowledge, or
experience to manage it daily. In that case, they hire a property manager to handle
the business activities. Simply put, the job of a property manager involves becoming
an intermediary between the property owner and the tenant and taking on the
responsibility of the property's maintenance, operations, and administration. The
duties of a property manager often depend on the rate at which they are paid, the
type of property they manage, and the terms of the agreed management contract.

3. The primary job of a property manager is to handle the daily activities of a unit of
real estate. They are required to have a working knowledge of the laws and
regulations of the industry of the property they are managing, whether it is
residential or industrial housing. Overseeing the maintenance, rent collection,
budgets, and rental property records is their primary objective as they work per the
property owner's goals. It is also essential that they familiarize themselves with the
state and federal laws that govern dealing with tenants, including screening
tenants to handling security deposits, conducting evictions, and terminating leases.

4. Due to this fact, some states require property managers to have real estate broker
licenses before owners can hire them to manage property legally. However, some
states require managers to be licensed in property management rather than real
estate, while some require no form of licensing.

5. A property manager sets competitive rent rates for tenants and is also in charge of
collecting the rent when due. One of the essential responsibilities of any landlord or
owner is to collect rent, and they outsource this task to the property manager. A
functional property manager should survey comparable rental properties in the area
to set competitive rental rates to attract tenants. This should be carried out annually
if the goal is to keep tenants attracted to the property. Setting up a system for
collecting rent at a fixed collection date and regulating optimal cash flow is also in
the job description of a property manager. This has to be done to pay the property's
monthly expenses on time.

6. The property manager deals directly with tenants. Managers conduct background
and credit checks to ensure they are the right fit for the property. The property
manager usually handles leases with tenants and tenant emergencies. A property
manager assesses potential damage to the property during a move-out and
determines how much of the tenant's deposit will be refunded based on its condition
after assessment.

7. The property manager is responsible for creating awareness of the property for
prospective clients, taking good property photographs, and uploading them to various
housing websites. If the property manager does an excellent job at marketing the
property, interest will significantly boost, increasing the chances of selecting the
right tenant.

8. Also, the property manager's job involves managing the budget and other essential
property records. Property management includes organizing the tenants' leases,
property repair costs, and any tenant complaints. They also handle property
maintenance by attending to building maintenance and repair requests to provide
tenants with a safe and habitable environment. This satisfies the tenants and makes
the property more desirable to prospective tenants.