A landlord owns a real estate property. But what does a property manager do?
In fact, a property manager is a valuable investment for any landlord and can handle tasks ranging from rent collection to complicated operations. Property managers help run real estate investments to ensure optimal revenues for owners and landlords, and their involvement level can vary depending on what is needed. However, regardless of their tasks, online platforms like Ajar Online are undoubtedly a property manager’s best friend.
So what is a property manager responsible for?
Perhaps one of the most basic responsibilities of a property manager is to manage the rent. That could include identifying the correct rent prices or rent range for the market, rent collection and timely payments, and adjusting rent prices if necessary, in line with local laws.
When it comes to facilitating payments, Ajar Online’s rent collection features are a key asset for any property manager: they track the exact status of each payment, send automated reminders, and enable payment using different methods as needed. The platform’s auto-reconciliation feature takes away a large portion of the manual work traditional property management involves and guarantees more accurate and streamlined lease operations.
Tenant management is in fact relationship management. In other words, a property manager is the point of contact between the landlord and the tenant and is responsible for guaranteeing successful interactions between the two, with the ultimate goal of reducing tenant turnover. A property manager can start by finding tenants to fill vacancies – from marketing the rental units to meeting with and vetting prospective tenants – and move on to handling the lease contract and collecting the security deposit. He/she can also handle situations such as evictions, if any, and tenant turnovers. Key Ajar Online features include the ability to add several tenants, to block tenants based on payment status, and to list vacant units on the FindAjar platform, making it ideal for property managers running several properties.
Maintenance and repairs
Once the property manager selects the tenants he/she believes would be the best fit for the property, his/her responsibilities extend to the running of day to day requirements. This can include preventive maintenance, regular inspections, repairs, and dealing with complaints. Ajar Online’s message center is ideally designed to optimize communication between tenants and property managers to ensure requests and maintenance issues are tracked and completed.
A property that functions in top condition is a property that can keep its tenants and easily attracts new ones.
Budgeting, tracking, and reporting
Property managers are responsible for the overall running of the property. They set the property’s budget to cover repairs, emergency situations, and the payment of any employees. They also maintain records of the property’s income and expenses, its occupants, maintenance works and requests, insurance policies, tax payments, etc. Ajar Online offers the possibility of generating automatic reports to track a property’s performance and identify any points of action.
In short, a property manager is one of the best assets a landlord can have. And while every property manager has their own style in running their units, modern technology and online management platforms like Ajar Online are sure to simplify the process.