A prevalent myth regarding property managers and real estate agents is that they are essentially the same profession. But a property manager’s role as a real estate agent is completely different. Although the housing market has a significant impact on both professions, there are far more differences than similarities. Rental property owners identify who to call when professional expertise is needed by being aware of these distinctions.
Key Differences
In fact, a real estate agent is someone who lists and sells properties for their owners. Even though some real estate agents focus on helping buyers find and purchase investment real estate, the agent’s responsibility is still focused on the sales transaction. The current housing market is the only factor that affects a real estate agent‘s work. When market conditions change, it is typical for real estate agents to have fluctuations in their business and revenue. Occasionally, real estate agents may help find tenants for a rental property, but their connection with the tenant and the property owner usually ceases after the lease is signed.
On the contrary, a property manager focuses on helping property owners manage their rental properties. Although every property manager will provide an assortment of services, the majority will act on behalf of a property owner to manage property maintenance and repair, tenant evaluation, collecting rent payments, and so forth. A property manager is a contractual role where they are paid for their ongoing management services, as opposed to a real estate agent. A downturn in the housing market is far less likely to have a detrimental impact on property management. Actually, property managers may find their responsibility rises during market downturns as more property owners choose to rent as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Despite the basic differences between a real estate agent and a property manager, there are additional duties that top-rated property managers do that real estate agents (and even other property managers) simply don’t. For illustration, while a real estate agent and the majority of property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for possible problems. By encouraging open communication and clearly explaining the lease documents, a property manager will begin establishing a connection with the tenant once the tenant has been screened. A skilled property manager will also schedule and perform regular maintenance on a property and handle emergency repairs and tenant complaints.
Helping property owners analyze the local market, determining a realistic rental rate, and providing suggestions on maximizing a property’s earning potential and your property’s resale value are some of the less typical but nonetheless beneficial services that some property managers do. Additionally, they may assist you to find and compare additional rental properties, some of which might not even be listed. These services are uncommon among many property managers; normally, only those who excel in the industry will work closely with rental property owners to assist you in managing a 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. Our comprehensive variety of services enables investors and rental property owners to realize their financial aspirations. Because our experts will assist you in setting an accurate rental rate and minimizing expenses by utilizing our suggested home services vendors, the majority of our clients discover that the value of our services significantly outweighs the costs. It is not possible to find these items at any random location.
To get more information about Real Property Management Superior Properties services in Philadelphia County and its vicinity, contact us online or call 610-943-5996 right away!
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