A general misunderstanding over property managers and real estate agents is that these occupations are more or less similar. But, as a matter of fact, a property manager’s role is quite different from that of a real estate agent. While both professions are very closely tied to the housing market, there are far more differences than similarities. Comprehending these differences can help rental property owners grasp who to call when professional expertise is needed.
Key Differences
By its very nature, a real estate agent is someone who lists and sells properties for their owners. While many real estate agents do specialize in helping buyers find and purchase investment real estate, the agent’s role is still focused on the sales transaction. The job of a real estate agent depends totally upon the current housing market. It is usual for real estate agents to perceive their business (and income) moving up and down as market conditions change. In a few cases, real estate agents may help find tenants for a rental property, but then, their involvement with the tenant and the property owner regularly ends if the lease is signed.
But, on the other hand, a property manager focuses on helping property owners manage their rental properties. While each property manager will give various services, most will generally work on behalf of a property owner to deal with property maintenance and repair, tenant screenings, collecting rent payments, etc. Contrary to a real estate agent, a property manager has a contractual role in which they are compensated for their ongoing management services. Property management is likewise much less likely to be adversely affected by a slump in the housing market. In reality, property managers may discover that their workload multiplies during market downturns as more property owners turn to renting as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
More than the basic differences between a real estate agent and a property manager, there are other things top-rated property managers accomplish and do that real estate agents (and even other property managers) simply don’t. For instance, while a real estate agent and some property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for probable red flags. As soon as a tenant has been screened, a great property manager will begin forming a rapport with the tenant by developing open communication and clearly explaining the lease documents. A perfect property manager will additionally schedule and perform regular maintenance on a property and solve or handle emergency repairs and tenant complaints.
Less common but advantageous services that various property managers grant include helping property owners analyze the local market, fix a definite and accurate rental rate, and offer suggestions on maximizing a property’s earning potential and your property’s resale value. They can further help you find and compare additional rental properties, many of which may not even be on the market. These are not typical services among numerous property managers; mostly, only the really good ones in the business will work closely with rental property owners to help you oversee the property and build an investment business.
The Value of a Great Property Manager
One of the nation’s top property management companies is Real Property Management. The reason for this is that we offer a broad range of services that rental property owners and investors need to attain their financial goals and dreams. The majority of our clients understand that the value of our services significantly exceeds the cost for the reason that our experts will help you decide on an accurate rental rate and keep costs down by taking advantage of our selected home services vendors. These are not things that you will be able to discover and find just anywhere.
To know more with respect to Real Property Management Homebase’s services in Crestview and surrounding areas, feel free to contact us online or call 850-806-2263 today!
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