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Property Management Schools

Property Management

As the link between the tenant and the landlord, property management companies help property owners — whether they are individuals or companies — by managing the properties and performing many of the tasks that the property owners cannot or do not want to do themselves. The property owners consider property management as a regular expense that is needed to maintain and maximize their property investments.

Property management companies may provide property valuations, market properties through various channels, show properties, screen tenants, collect rent from the tenant, respond to maintenance matters, send the rent collected to the landlord, evict problematic tenants, and ensure that state and local laws as well as homeowners’ association rules are followed. In some states, property managers must also be licensed real estate brokers.

Property management companies provide a professional service for property owners who do not want to have to look for new tenants or have direct contact with their tenants about day-to-day matters. Property managers must be good managers, but they must also have good people skills. In their job as liaison, property managers may find themselves convincing a prospective tenant of the advantages of a specific property and resolving a problem between a landlord and his tenant.