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What Does A Property Manager Do?

Maximize the property’s value and ensure its smooth operation

A property manager is responsible for the day-to-day operations and management of a rental property on behalf of the owner/landlord. Their primary goal is to maximize the property’s value and ensure its smooth operation.

The specific responsibilities of a property manager can vary depending on the type of property they manage, such as residential and commercial properties. However, some common duties include:

  • Financial Management: Property managers handle the financial aspects of the property, such as setting rental rates, budgeting, collecting rent, paying bills and taxes, and maintaining financial records. They may also prepare financial reports for the property owner.
  • Marketing and Advertising: When a property has vacancies, property managers are responsible for advertising and marketing the property to attract potential tenants. This may involve creating rental listings, coordinating with real estate agents, and conducting property showings. SVPM managers are also licensed Realtors and perform sale and rental transactions under the Sackman Realty Brokerage. SVPM clients may utilize these services through us as agents of Sackman Realty, however it is not required. If you already have a Realtor/agency you are happy with, you are welcome to continue with them.
  • Legal and Compliance: Property managers must stay updated on relevant laws and regulations related to real estate and rental properties. They ensure the property operates within legal boundaries, handle evictions if necessary, and address any legal issues that may arise.
  • Property Inspections: Regular inspections of the property are conducted by property managers to identify any maintenance or safety issues. They may also inspect units before and after a tenant moves in or out to document the condition of the property.
  • Record-Keeping: Property managers maintain accurate records of lease agreements, rent payments, maintenance requests, and other property-related documentation. These records are essential for legal and financial purposes.

Overall, property managers are responsible for managing all aspects of a property to ensure its profitability, maintenance, and compliance with regulations. They act as a bridge between the property owner and the tenants, handling various administrative, financial, and operational tasks to ensure the property’s success.