We are often asked by owners and investors what kinds of duties a property manager takes care of on behalf of their clients. Today, we’re sharing some of the things that a professional manager can do for you.
1. Evaluate your property to determine a correct rental rate.
Pricing your home is very important to your cash flow and ROI. If you price it too low, you’re leaving money on the table. If you price it too high, you run the risk of leaving it vacant for too long.
2. Market your property for rent.
To find the best tenants, you need maximum exposure for your listing. A property manager will advertise your home and show the property to prospective tenants.
3. Conduct tenant screenings, approvals, and move ins.
Your success as a landlord depends largely upon the tenant you select. Your property manager will do a thorough tenant screening and manage the move in process.
4. Collect the rent.
Consistent rent collection every month will ensure you get paid on time.
5. Handle evictions.
With a great property manager, your risk of eviction is low. However, things happen and if an eviction becomes necessary, your property manager will handle all the paperwork and court filings.
6. Have a thorough knowledge of the Florida Landlord Tenant Act.
If you don’t know the legal requirements associated with renting out property in Florida, you risk a lot of liability. Property managers know the law and keep you protected.
7. Perform periodic inspections.
Inspections give you the opportunity to look for maintenance that needs attention and ensure your tenants are following the terms of the lease.
8. Pay the bills.
Maintenance invoices, taxes, and homeowner’s insurance can be managed through your property manager. You’ll get a statement every month detailing the property’s income and expenses.
9. Oversee maintenance and repairs.
Your property manager can provide you with affordable, high quality maintenance. When repairs are necessary, they can call upon their network of reliable contractors and vendors.
10. Conduct tenant move outs and inspections.
At the time of move out, your property manager will inspect the property and compare its condition to how it looked before the tenant moved in. The security deposit will be charged or refunded accordingly.
You can learn more about these topics by visiting our website. If you have any questions, please don’t hesitate to contact us at Metro Residential in sunny Fort Lauderdale, Florida.