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What is Property Management?

What is property management?

Property management is a scalable service that helps real estate property owners manage successful investments. Property management companies come in many different sizes, from a single property manager who lives on-site in an apartment complex to a large-scale company that manages properties for many different landlords for a fee.

What does a property manager do?

Property managers work to keep properties maintained and rented within a fair and profitable business model. From marketing to general repairs, managers work for both the property owner and the tenant to provide excellent customer service.

It all begins with establishing a relationship and management contract with the property owner. Property managers then set the rent, market the property to find and vet the right tenant, and work with the tenant to make sure the property stays in good working order and that the rent is paid on time.

Benefits of property management

Landlords who manage their own properties sometimes end up spending most of their time finding tenants or performing maintenance and repairs. Property management companies can ease that burden by employing industry best practices and leveraging resources not available to property owners. These companies often have rental applications and contracts designed to protect property owners and tenants from unfair practices and litigation, which is a win for everyone involved. Property managers also maintain real estate properties, which preserves their value. In addition, a good management company will provide a landlord with detailed expense reports and documentation that help simplify taxes for owners.

How to find a good property manager

The best property management companies offer consultation services even before purchase, helping prospective property owners through the vetting and real estate purchase process. Comprehensive property management services include marketing, operations, maintenance, accounting, and even disposition consulting when it’s time to sell. Ask any property management company you’re considering about their professional affiliations, what their occupancy rates are, and how they approach tenant disputes or non-payment issues.

Whether you’re hiring a management company or looking for a great rental property for your next home, finding a company with a great track record is essential for long-term success. Class A Management offers comprehensive management services, and our seasoned professionals are committed to serving our landlords and tenants fairly and efficiently. Contact us today to learn more about how we can customize a services package for your single-family or multifamily property. Maximize your investment with a team that offers the respect, value, and experience you and your tenants deserve!