Wanted Property Managers
March 28, 2016 |
Sales Manager, NPM Staffing, Inc.
The increase in rental properties in Maricopa County in recent years has created a high demand for property management – especially for residential leasing and rentals. With new construction happening all over our state an experienced property manager becomes an essential part of the investment equation. The knowledge and education of a seasoned property manager can save the owner hundreds if not thousands of dollars each year.
What exactly is a property manager? A property manager is a third party who is hired to handle the daily operations of a real estate investment. They can manage all types of properties from single family homes, large apartment communities, office buildings and commercial space. Property managers wear many different hats throughout the work day: they are teachers, mentors, conflict resolution specialists and mediators to name a few.
Not everyone is cut out to be a property manager and most who are in the industry will say – you either hate it or love it. Some important traits of a good property manager include knowledge, education, experience, good people skills, a sense of humor and the ability to make good, sound decisions in a pinch.
The responsibilities of a property manager will vary based on the salary, the needs of the owner, the management contract and whether or not he/she has a real estate license. Some common responsibilities are listed below.
Setting the initial rent level, collecting rent from tenants and adjusting the rent.
One of the main responsibilities of a property manager is to manage tenants. This involvement applies to all capacities relative to the tenant:
- Finding Tenants: Property managers are responsible for marketing the property to fill vacancies. Typically, they have experience related to where to advertise the property and what to include in an ad. The property manager also understands what attracts prospective tenants – a common practice is suggestions for cosmetic improvements to makeover a property.
- Screening Tenants: Sorting through the prospective tenant applications to find a tenant that is the best fit for the property is a standard job role. Negotiating the length of the lease and making sure all the necessary provisions to protect the owner is a skill that becomes important to the leasing process. This includes determining the amount of security deposit required.
- Routine tenant responsibilities such as handling emergencies, move outs and evictions.
Maintenance & Repairs
The physical management of the property including regular maintenance and emergency repairs.
Knowledge of the Landlord-Tenant Law
Knowledge of statewide and national laws regarding the proper ways to manage the day-to-day operation including:
- Security deposits and the trust account required
- Termination of a lease
- Tenant eviction
- Property safety standards compliance
Budget Management & Maintaining Records
Management of the budget for the building as well as maintaining all pertinent records for the owner reports and for compliance with the Arizona Department of Real Estate Commissioners Standards.
Overall, working in the field of property management is a rewarding experience and provides many benefits. It’s also nice to know that the demand for a property manager continues to grow along with our great city.
Debra Hill-Fox has more than 30 years experience in the residential property management industry. In addition to her role with NPM Staffing, Inc, Debra has been an educator for the Arizona School of Real Estate & Business for more than 10 years. Debra can be contacted by email at email@example.com.
Residential Leasing Seminar
FRIDAY, APRIL 29, 2016 – 9:00 AM TO 12:30 PM
A panel of professionals in this market including two prominent attorneys and property management will provide you with valuable information covering the following topics and more:
- Current Market Conditions and Opportunities
- Resolving Tenant-Landord Conflicts
- Latest Legal Lessons of Leasing
- Vacation Rentals
- Upcoming Luxury Apartment Complexes
Credit: 3 hrs. Legal Issues