A recurring misconception about Mill Valley property managers and real estate agents is that these occupations are more or less the same. But in reality, a property manager’s task is not the same as that of a real estate agent. While both professions are closely linked to the housing market, there are far more differences than similarities. Knowing these differences can aid rental property owners to learn who to get in touch with when professional expertise is necessary.
To start, a real estate agent is a person who lists and sells properties for their owners. While a handful of real estate agents specialize in aiding buyers find and purchase investment real estate, the agent’s role is still centered on the sales transaction. The function of a real estate agent is dependent on the current housing market. As market conditions see-saw, it is common for real estate agents to find their business (and income) going up and down. In some instances, real estate agents may aid find tenants for a rental property. Still, their involvement with the tenant and the property owner usually ends when the lease is signed.
On the other hand, a property manager deals with helping property owners manage their rental properties. A property manager can offer a lot of services, but most of their task involves working on behalf of a property owner to oversee property maintenance and repair, tenant screenings, collecting rent payments, etc. Unlike a real estate agent, a property manager is a contractual role wherein they get money for their ongoing management services. Property management is also less likely to be badly affected by a fall in the housing market. In fact, property managers may see their workload go up during market downturns as more property owners look to renting as another option to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the fundamental differences between a real estate agent and a property manager, there are some tasks top-rated property managers do that real estate agent and other property managers usually don’t. While a real estate agent and the majority of property managers will advertise a rental property to get new tenants, not all of them will screen those tenants in full for potential red flags. After a tenant has been screened, a good property manager will initiate building rapport with the tenant by having open communication and explaining the lease documents in a clear manner. In addition, a good property manager will schedule and perform regular maintenance on a property and take on emergency repairs and tenant complaints.
Helping property owners analyze the local market, setting an accurate rental rate, and giving suggestions on how to maximize a property’s earning potential and your property’s resale value are a few of the less common but valuable services that some property managers provide. Further, they may help you find and compare additional rental properties. They may even offer you properties that are not yet on the market. These are not ordinary services among all property managers. Usually, only the top in the business will closely work with rental property owners to help you not just manage property but build an investment business.
The Value of a Great Property Manager
Real Property Management is one of the nation’s top property management companies. This is due to the fact that we can provide a full range of services that rental property owners and investors need to reach their financial goals and dreams. Our experts will assist you in setting an accurate rental rate and keep costs down by using our preferred home services vendors. This is why a lot of our clients note that the value of our services far exceeds the cost. And these are good deals that you can’t find just anywhere else.
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