What is property management?

What is Property Management?

11/18/2019 | by Jessica Nani | Vacation Rentals

Property management is a broad term for the management of homes and commercial areas. Most commonly, property managers take care of maintenance and administrative tasks for properties like large groups of rentals, apartment buildings, HOAs, commercial centers, nightly rentals, and similar.

Who Needs a Property Manager?

Property management companies serve a variety of purposes and a variety of customers. You might need a property manager if you fall in the following categories:

  • HOA searching for management help with dues, maintenance, and more.
  • Second-home owners in looking for someone to do walkthroughs while they’re away, help with maintenance tasks, manage tenants, and similar.
  • Commercial spaces that need landscaping help, rent collection, and rules enforcement.
  • Apartment/townhome/condo communities in need of maintenance help, rent collection, rule enforcement, tenant management, and similar.
  • Landlords looking for maintenance and security help
  • Other
Yellow house with tree in front of it.

How do I find a good property management company?

While there is no sure-fire way to know if a management company is perfect, there are a few ways to vet a property manager.

  1. They’re quick and communicative.
  2. They have good reviews in multiple places.
  3. They come recommended by your agent or other local people in the area you trust.
  4. They live in and know the area well (weather, subcontractors, etc.)
  5. They have in-house maintenance, housekeeping, and admin teams.
  6. They focus on preventative maintenance (they’re proactive, not just reactive).
Overhead neighborhood with pools and grass.

Where can I find a Property Manager?

There are several ways to find a property manager in your area depending on your needs.

  • Consulting with your agent if you have just purchased the home or have an agent in the area is a great way to get a local perspective on a company that best fits your needs
  • Checking with the Chamber of Commerce in your area
  • Ask around with your neighbors or associates in a similar property type as you

Working with an agent helps you also answer the question “Do I even need a property manager” and help find a fit for your needs.

Green apartment building.

Overall, property management can serve a host of needs. To determine if a property manager is a good fit for your home or group, ask around and don’t hesitate to reach out to the potential manager. They’ll be able to determine what services you need and if your home is a good fit for them or another group.

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