The role of a property manager is an essential one in the real estate industry. A property manager is responsible for maintaining and managing rental properties on behalf of owners. They handle various tasks such as collecting rent, responding to tenant complaints, and ensuring that the property is in good condition. However, the role and responsibilities of a property manager are established by a written agreement called a property management agreement.
A property management agreement is a legal contract that outlines the terms and conditions of the property management services to be provided. This written agreement serves as a guideline for both the property owner and the property manager, outlining their respective roles and responsibilities. The agreement usually includes clauses related to property maintenance, rental collection, tenant screening, and eviction procedures.
One of the essential roles of a property manager is to ensure that the property is well-maintained. This includes routine inspections, preventive maintenance, and repairs. The property management agreement typically outlines the maintenance responsibilities of the property manager. This may include tasks such as landscaping, snow removal, and pest control.
Another critical role of a property manager is to collect rent from tenants and ensure that the property owner receives their rental income on time. The property management agreement establishes the rental collection process, including the amount of rent, payment due dates, and late fees.
The property management agreement also sets out the tenant screening process to be followed by the property manager. This includes advertising vacant units, conducting background checks, and interviewing potential tenants. The agreement may also include procedures for handling tenant complaints and disputes.
Finally, the property management agreement outlines the procedures for eviction if a tenant fails to pay rent or breach other terms of the lease. The agreement should specify the legal process the property manager will follow to evict the tenant.
In conclusion, the role of a property manager is established by a written agreement known as the property management agreement. This document outlines the terms and conditions of the property management services to be provided, including rental collection, maintenance, tenant screening, and eviction procedures. A well-drafted property management agreement is essential for both the property owner and the property manager to ensure a smooth and successful working relationship.