A very common misunderstanding relating to property managers and real estate agents is that these occupations are more or less actually similar. But, in actual fact, a property manager’s role is very diverse from that of a real estate agent. While both professions are truly closely tied to the housing market, there are far more differences than similarities. Ascertaining these differences clearly can vitally help rental property owners know who to call when professional expertise is required.
Key Differences
In essence, a real estate agent is someone who lists and sells properties for their owners. While lots of real estate agents certainly speicalize in helping buyers find and purchase investment real estate, the agent’s role is still mainly focused on the sales transaction. The job of a real estate agent depends largely upon the current housing market. It is customary for real estate agents to noticce their business (and income) moving up and down as market conditions change. Every once in a while, real estate agents may help find tenants for a rental property, but everntually their involvement with the tenant and the property owner mostly ends right when the lease is signed.
By comparison, a property manager focuses on helping property owners manage their rental properties. While each property manager will render their own brand of services, most will typically work on behalf of a property owner to handle property maintenance and repair, tenant screenings, collecting rent payments, etc. As distinct from a real estate agent, a property manager is a contractual role in which they are compensated for their ongoing management services. Property management is also certainly much less likely to be adversely affected by a slump in the housing market. Actually, property managers may detect that their workload doubles 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)
Other than the basic differences between a real estate agent and a property manager, there are more things that top-rated property managers certainly often do that real estate agents (and even other property managers) simply don’t. By way of example, while a real estate agent and many property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for any signs of red flags. Whenever a tenant has been screened, an incredible property manager will get started with developing rapport with the tenant by establishing and nurturing open communication, and clearly explaining the lease documents. A superb property manager will, at the same time, schedule and perform regular maintenance on a property and appropriately deal with emergency repairs and tenant complaints.
Less common but much needed services that most property managers extend include helping property owners analyze the local market, set up a well-defined, reasonable rental rate, and offer suggestions on maximizing a property’s earning potential and your property’s resale value. They can moreover help you find and compare additional rental properties, a few of which may not even be on the market. These are not typical services among property managers; consistently, only the superb ones in the business will work closely with rental property owners to help you tend a property well and build an investment business.
The Value of a Great Property Manager
Among the nation’s top property management companies is Real Property Management. This is for the reason that we offer a vast range of services that rental property owners and investors need to meet their financial goals and dreams. Many of our clients determine that the value of our services hugely exceeds the cost since our experts will help you provide an accurate rental rate and keep costs down by putting into service our carefully selected home services vendors. These are not things that you will be able to get just anywhere else.
To get more pertinent information concerning Real Property Management Luxury’s services in Sugar Land and surrounding areas, contact us online or call 346-275-3115 today!
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