Often seen as the ‘face’ of the property industry, it’s safe to say that most people are familiar with the day-to-day duties of an estate agent. But what about the job of the property manager? You may have heard of this role, but what exactly is a property manager and why are they so important to the industry?
In short, without the work and support of a residential property manager, the industry would fall flat. Vital in making sure a property holds or increases its value, their responsibilities are hugely varied, depending on the agency. Here’s a run-down of some of the main duties of a property manager:
Dealing with tenants
Working as the lynchpin between the owner of the property and the tenants, the property manager will deal with all tenant-related issues, acting as a representative for the landlord. Once the tenants are moved in, the property manager is the first port of call if something goes wrong! A good property manager will handle most of the outgoing operations for the property, which can include anything from noise complaints to maintenance issues.
Communicating with owners
Not only will a property manager need to maintain a positive relationship with tenants, they’ll need to be on good terms with the property owner too. Working directly with the owners, communication is key. This includes keeping the owner informed of vacancy rates, business policies, legal issues and any maintenance and repairs that are needed on their property. Property managers play a key role when it comes to the small, legal details that can be involved in letting out a property. Property managers can be invaluable to the landlord when it comes to the legal aspects of letting a property, with a good understanding of up-to-date laws and practices which need to be complied with.
Maintenance and repairs
The primary role of the property manager is to oversee the running of the property on behalf of the owner, and the upkeep and maintenance of the building is a key part of this job. In charge of keeping the property in good condition as well as the surrounding grounds, essential duties can include dealing with repairs, breakages and the general maintenance of the grounds and garden. Essentially, the property manager needs to prevent the property from deterioration, so may oversee a wide range of maintenance duties ranging from lawn care, appliance replacements, window cleaning and renovations.
Keeping to budget
In addition to the responsibilities mentioned above, the role of a property manager has a high degree of secretarial and administrative accountability. It’s important to keep records of all the paperwork for the property, from signed leases to official complaints, insurance costs to income and expenses, to name just a few. The property manager is also expected to work within a set budget for the property, using his or her discretion when responding to tenant’s requests.
A career in property management guarantees a multi-faceted and varied role, wherein no two days are the same. With no weekend working, and a flat basic salary of a higher rate than those in sales and lettings receive, the role of a property manager is an attractive one. If you’re reliable, great with people and see yourself as a problem solver, then a career in property management could be for you.