What does a Property Manager do?

 We begin by having prospective tenants fill out a detailed rental application. This application collects essential information such as their contact details, employment history, income verification, references (both personal and professional), and previous rental history. This provides a snapshot of their background and helps assess their suitability as tenants. 

 Conducting a credit check is vital to evaluate an applicant's financial responsibility and determine their creditworthiness. Request permission from the applicant to run a credit report, which will provide insights into their credit history, outstanding debts, and payment patterns. Look for any red flags such as a history of late payments, outstanding collections, or excessive debt. 

 Verify the applicant's income to ensure they have the financial means to afford the rent. Request pay stubs, employment verification letters, or bank statements to confirm their employment status and income level. Generally, it's advisable to look for tenants whose monthly income is at least 2.5 times the rental amount. 

 Conducting a background and criminal check helps ensure the safety and security of your property and other tenants.  We look for any criminal convictions, evictions, or legal issues that could pose a risk. This can be done through third-party services that specialize in background checks and tenant screening. 

 We contact previous landlords listed on the application to inquire about the applicant's rental history. Ask about their payment habits, whether they caused any damage to the property, and if they adhered to the terms of the lease agreement. A positive rental history is a good indicator of a responsible tenant. 

 We contact the personal and professional references provided by the applicant to gain insights into their character, reliability, and ability to fulfill their obligations. References can include employers, colleagues, personal acquaintances, or previous landlords. Be sure to ask relevant questions to assess their suitability as tenants. 

Prepare lease agreements that outline the terms and conditions of the tenancy, including rent amount, lease duration, security deposit, pet policies, and maintenance responsibilities. They ensure that the lease agreement complies with local rental laws and regulations. Once the lease is prepared, property managers coordinate with the tenants to review and sign the lease documents. 

Collect rent payments from tenants in accordance with the terms specified in the lease agreement. We ensure that rent is paid on time and handle any late payment issues or disputes. Additionally, we manage lease renewals, including negotiating new lease terms, adjusting rent prices, and coordinating the execution of the renewed lease agreement. 

Enforce the terms and conditions of the lease agreement. We address any violations by tenants, such as unauthorized subletting, late rent payments, or property damage. If necessary, we initiate eviction proceedings in compliance with local laws and regulations. 

 When a tenant decides to terminate their lease, we guide them through the move-out process. We conduct move-out inspections, assess any damages beyond normal wear and tear, and handle the return of the security deposit. We also coordinate the marketing and preparation of the unit for new tenants. 

Handle any necessary amendments or addendums to the lease agreement during the tenancy. This may include changes in rental terms, adjustments to pet policies, or updates to maintenance responsibilities. We ensure that any modifications to the lease are properly documented and executed. 

Maintain accurate records of all lease agreements, addendums, and related documents. We keep track of lease start and end dates, rental rates, security deposits, and any modifications made during the tenancy. These records are essential for legal and financial purposes. 

We are responsible for implementing and overseeing routine maintenance tasks to keep the property in optimal condition. This can include tasks such as landscaping, cleaning common areas, inspecting and maintaining HVAC systems, and ensuring proper functioning of utilities (e.g., water, electricity, gas). We coordinate with our 5- star vendors to perform these routine maintenance activities. 

 We handle maintenance requests submitted by tenants. We promptly address tenant concerns and coordinate with appropriate vendors or maintenance personnel to resolve issues. This can include repairs for plumbing, electrical systems, appliances, or any other areas requiring attention. We ensure that maintenance requests are efficiently handled, minimizing tenant inconvenience and maintaining tenant satisfaction. 

 In case of emergencies, such as a burst pipe, electrical failure, or security issues, property managers are available to respond promptly and take necessary action. We maintain a network of reliable contractors or service providers who can be called upon to address emergencies outside of regular business hours. We also keep tenants informed about emergency protocols and how to report urgent maintenance issues. 

 We oversee the hiring and management of contractors and service providers for larger repairs or specialized maintenance tasks. We obtain multiple quotes, assess the qualifications and reliability of contractors, and select the most suitable option for the job. We coordinate and supervise the work performed by contractors, ensuring that repairs are completed to a satisfactory standard and within the agreed-upon timeframe. 

We conduct regular inspections of the property to assess its condition, identify maintenance needs, and ensure compliance with lease agreements. These inspections can be performed periodically, before and after tenant move-ins and move-outs, or as required. We document any maintenance or repair issues identified during inspections and take appropriate action to address them. 

We maintain detailed records of maintenance and repair activities, including work orders, invoices, and warranties. These records are essential for tracking expenses, monitoring contractor performance, and documenting the maintenance history of the property. We also use these records to provide accurate financial reports to the property owner.