What are the Responsibilities of Property Managers?

 

If you have properties that you wish to be rented, but can’t handle the processes on your own, you should hire an Auckland property manages. You will thank yourself later that you hire such professionals when you learn what their responsibilities are.

They are responsible for the rent.

It doesn’t just stop with receiving and writing down who have paid their rent. The following below are the things property managers Auckland are responsible for.

Setting rent – property managers can set the rent level, but they know the right way so that your property attracts the right tenants. They possess the understanding of the market on where the property is at and even have overseen the comparable properties within the area.

Collecting rent – they also play the enforcer. They make sure cash flow is consistent with setting up a date when to collect the rent every month. They also set up strict rules for any tenant failing to pay on time.

Adjusting rent – they increase and decrease the rent according to the municipal law or individual state at a fixed percentage every year. Decreasing the rent will only be done when necessary.

Responsibility for the tenants

One of their main responsibilities is managing the tenants. They are involved in almost everything that happens, whether this is by finding the right tenants, dealing with their complaints, or even initiating evictions.

Finding tenants – they are solely responsible for searching for tenants in order to fill every vacancy within the property. They know where is the right place to advertise the vacancies and even what should be included in the ads. They also make suggestions on how to make your property look attractive to potential tenants.

Screening tenants – they sort through the applications in order to find the tenant that is fitted to your property. They follow consistent rules in the screening process. They even run background checks and credit checks, which decreases the chances of you getting accused of discrimination. Property managers Auckland with the right experience have seen thousands of tenants every year, so they have better ideas on how to choose the right tenants, those that pay on time, having long tenancy and make fewer problems, too.

Handling leases – they are also responsible for setting up the lease’s length and ensure that it has all the needed provisions that will protect the owner. This includes determining security deposit amount required.

Handling emergencies and/or complaints – they are also paid to deal with noise complaints, maintenance requests and even have the contacts necessary that will handle emergency cases.

Handling moving out – when a tenant decides to move out from the property, the property manager is the one responsible for inspecting the tenant’s unit, checking for any damages and even determining the portion of their security deposit that will be returned back to the tenant. After the move-out, they are then responsible for cleaning up the unit, repair damages if there are any, and search for a new tenant for it.