Many people view property managers and real estate agents as essentially the same profession. However, a property manager’s role is quite different from that of a real estate agent. Although both professions are rightly related to the housing market, there are far more differences than similarities. Knowing these variations will enable rental property owners to choose who to call when professional expertise is needed.
Key Differences
By definition, a real estate agent is someone who lists and sells properties for their owners. While some real estate agents emphasize helping buyers find and purchase investment real estate, their primary responsibility is still focused on the sales transaction. The current housing market determines entirely what a real estate agent does. Real estate agents often find their business – and income – moving up and down as market conditions change. In certain circumstances, real estate agents may help find tenants for a rental property, but their interaction with the tenant and the property owner usually ends after the lease is signed.
On the flip side, a property manager focuses on helping property owners manage their rental properties. While each property manager may provide particular services, most will usually work on behalf of a property owner to oversee property maintenance and repair, tenant screenings, collecting rent payments, etc. Different from a real estate agent, a property manager is a contractual role in which they are paid for their ongoing management services. Property management is also much less likely to be negatively influenced by a slump in the housing market. In fact, property managers may find their workload 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, top-rated property managers do something else that real estate agents (and even other property managers) simply neglect. For instance, 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 possible problems. Once a tenant has been screened, a smart property manager will begin developing a connection with the tenant by establishing honest discourse and clearly explaining the lease documents. A competent property manager will also schedule and perform regular maintenance on a property and handle emergency repairs and tenant complaints.
Some property managers offer uncommon but worthwhile services, including helping property owners analyze the local market, determine a suitable rental rate, and offer 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 even be on the market. These are uncommon services among numerous property managers; in general, only the best in the field will work closely with rental property owners to assist you in running 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. This is so because we provide a whole spectrum of services required by investors in rental properties to fulfill their desires and financial objectives. Since our experts will help you determine an accurate rental rate and maintain cost control by employing our chosen home services vendors, most of our clients discover that the value of our services much exceeds the cost. These are not stuff you will be able to locate anywhere.
For further details about Real Property Management Blue Chip Valor’s services in Madeira and adjacent areas, contact us online or call 513-278-5050 now!
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