A typical misperception about property managers and real estate agents is that these occupations are pretty much something similar. Nonetheless, a property manager’s role is totally different from that of a real estate agent. While both professions are intently attached to the housing market, there are far more differences than similarities. Being aware of these distinctions can help rental property owners know who to call when professional expertise is required.
Key Differences
By definition, a real estate agent is someone who lists and sells properties for their owners. While some real estate agents spend significant time helping buyers find and purchase investment real estate, the agent’s job is still focused on the sales transaction. The job of a real estate agent relies completely on the current housing market. It is normal for real estate agents to see their business (and income) moving up and down as market conditions change. At times, real estate agents may help find tenants for a rental property, but their contribution to the tenant and the property owner usually closes once the lease is signed.
Then again, a property manager focuses on helping property owners manage their rental properties. While every property manager will offer different services, most will commonly work on behalf of a property owner to supervise property maintenance and repair, tenant screenings, collecting rent payments, and so forth. Unlike a real estate agent, a property manager has a contractual role in which they are rewarded for their ongoing management services. Property management is also significantly less liable to be adversely impacted by a slump in the housing market. Actually, property managers may see their responsibility increase during market downturns as more property owners turn to renting as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the basic differences between a real estate agent and a property manager, there are different things that top-rated property managers do that real estate agents (and even other property managers) simply don’t. As an illustration, while a real estate agent and most property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for potential warnings. Once a tenant has been screened, a decent property manager will begin building compatibility with the tenant by developing open interaction and clearly explaining the lease documents. A decent property manager will also schedule and perform regular maintenance on a property and handle emergency repairs and tenant complaints.
More uncommon yet significant services that some property managers offer include helping property owners analyze the local market, setting a precise rental rate, and giving suggestions on maximizing a property’s earning potential and your property’s resale value. They can also help you find and compare additional rental properties, some of which may not actually be available. These are not normal services among numerous property managers; regularly, only the greatest in the field will work closely with rental property owners to assist you with dealing with property and building an investment business.
The Value of a Great Property Manager
One of the nation’s top property management companies is Real Property Management. This is because we offer a full scope of administrations that rental property owners and investors need to reach their monetary objectives and dreams. Many of our clients discover that the value of our services greatly outweighs the expenses because our experts will assist you in determining an accurate rental rate and help minimize costs by using our trusted home services vendors. You won’t come across these things just anywhere.
For more information about Real Property Management Reliant services in Ashland and nearby areas, contact us online or call 573-615-0809 today!
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