A widely known false notion in reference to Gray property managers and real estate agents is that these careers are more or less alike. But on the contrary, in essence, a property manager’s role is very different from that of a real estate agent. Even though it is true that both professions are similarly tied to the housing market, there are far more differences than similarities. Perceiving these dissimilarities can help rental property owners be aware of who to call supposing professional expertise is wanted.
By definition, a real estate agent is someone who lists and sells properties for their owners. Indeed, while many real estate agents specialize in helping buyers find and purchase investment real estate, the agent’s role is still oriented toward the sales transaction. The work of a real estate agent rests entirely upon the recent housing market. It is ordinary for real estate agents to find their business (and income) moving up and down as market conditions change. In a number of cases, real estate agents may help watch out for tenants for a rental property, though their involvement with the tenant and the property owner typically breaks off when the lease is signed.
A property manager, in contrast, aims at helping property owners manage their rental properties. Even though each property manager will render different services, the majority will oftentimes work on behalf of a property owner to handle property maintenance and repair, tenant screenings, collecting rent payments, and so on. Unlike a real estate agent, a property manager is a contractual role in which they are paid for their ongoing management services. Property management is additionally much less likely to be badly affected by a slump in the housing market. In actuality, property managers may perceive their workload increase on market downturns as more property owners focus on renting as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the general differences between a real estate agent and a property manager, there are other things that thriving property managers bring off that real estate agents (and even other property managers) don’t. For instance, conceding that a real estate agent and most property managers will advertise a rental property to find new tenants, not all of them will cautiously screen those tenants for any red flags. Immediately when a tenant has been screened, an excellent property manager will start establishing rapport with the tenant by building open communication and forthrightly explaining the lease documents. An appropriate property manager will equally schedule and perform regular maintenance on a property and take charge of emergency repairs and tenant complaints.
Less common but certainly effective services that various property managers give involve helping property owners analyze the local market, set an accurate rental rate, and offer advice on how to maximize a property’s earning potential including your property’s resale value. They can moreover help you look for and compare additional rental properties, some of which possibly may not even be on the market yet. These are not general services among numerous property managers; usually, only the best in the business will work conscientiously with rental property owners to properly help you not just manage property but grow a thriving investment business.
The Value of a Great Property Manager
Contained in the nation’s top property management companies is Real Property Management. This is because of the fact that we provide a full range of services that rental property owners and investors actually need to fulfill their financial goals and dreams. Many of our clients perceive that the value of the services we offer far surpasses the cost, especially, on the account that our experts will effectively assist you in setting an accurate rental rate and keep costs down by employing our preferred home services vendors. These are not things that you will be able to get just anywhere.
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