What do property management companies do

Excalibur represents about 1, rental homes in the Metro Atlanta area. He also teaches property management and real estate investing for the Georgia Association of Realtors and the Georgia Real Estate Commission selected him to serve on their Education Advisory Committee to represent the property management industry. Suncoast is a full-service real estate firm, currently managing more than 1, properties. They are licensed in both Florida where they actively service properties from Palm Coast to Nassau County and Georgia.

For more than 30 years, Texas rental property owners have trusted Specialized Property Management to help their rental home investments be more profitable and avoid costly mistakes. Their full services include marketing, leasing, applicant screening, showings, rent-ready services, maintenance, managing tenant needs, rent collection, lease enforcement, and owner reporting and trust accounting.

The firm maintains the highest online and customer satisfaction ratings in the industry. Charles Thompson has over 25 years of experience specializing in turnaround management, strategy-based consulting, and implementing best-practice operational models within industry-leading brands. April Kilcrease is an Oakland-based writer and editor.

She loves wandering through open houses and nerding out over floor plans. Free Property Valuation. Browse our rental property marketplace. What does a property manager do? Here's how they can help. Last updated on October 7, This article, and the Roofstock Blog in general, is intended for informational and educational purposes only, and is not investment, tax, financial planning, legal, or real estate advice.

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Sign in here. Access to timely real estate stock ideas and Top Ten recommendations. Learn More. Real estate has long been the go-to investment for those looking to build long-term wealth for generations. Let us help you navigate this asset class by signing up for our comprehensive real estate investing guide. It handles most -- and often all -- of the tasks related to owning rental properties.

A property manager oversees tenant turnover, collects rent, screens tenants, runs background checks, performs property maintenance, and does many other things you would otherwise do as the property owner. If you hire a property management company, you pay a management fee to make most of the headaches of rental property ownership go away. You need to find and market to people who want to rent the property. You also need to handle the basic mechanics of having short-term guests.

Arranging for check-in is a challenge, too. These specialists need to have good customer service skills and the ability to de-escalate situations, as well as perform the usual duties of a property manager. Single-family home property managers work for real estate investors who hold their investments and rent them out for additional income.

These types of investors generally purchase homes in areas where there is a high rate of residential turnover, such as in a military community, where there is a tendency to not purchase homes. They hire property managers to make sure all of the facets of the property are handled, and that value is maintained while the property is being lived in.

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Many landlords look forward to the challenge of finding good tenants and the rewards of maintaining a safe and attractive property on their own. But if you view rental property ownership strictly as an investment and want little or nothing to do with the day-to-day management of your properties, consider hiring help to manage your property.

Your time is limited. Even if you enjoy hands-on management, you might not have much time to devote to your business, especially if landlording isn't your day job. And if you prefer to spend your time growing your business, including searching for new properties, arranging financing for renovations, or changing your business structure, then a management company might be a good way to spend your money.

You can afford the cost. Hiring a property management company is an attractive option if you can afford the fees.

If it's a down market and you're able to manage things yourself or with the help of a resident manager or other employees , you might want to keep doing so until the market turns around. You're suddenly inundated with management tasks. If your business is growing, at some point you might find that you need a substantial amount of help to manage everything properly.

At that point, it might make sense to hire a management company. You don't want to be an employer. If you hire a resident manager or other employees to help with your property, you become an employer.

You'll have to handle payroll and deal with a host of other legal requirements and considerations. But, because a property management company isn't your employee it's an independent contractor , and neither are the people who work for the company, by using one you avoid the hassles of being an employer. Your property is part of an affordable housing program. If you participate in an affordable housing program, things can get complicated.