A popular assumption regarding property managers and real estate agents is that these professions are essentially the same. Nonetheless, a property manager’s role differs greatly from that of a real estate agent. While both professions are intricately linked to the housing market, there are far more differences than similarities. Comprehending these distinctions enables rental property owners identify who to call when professional expertise is essential.
Key Differences
Based on facts, a real estate agent is someone who lists and sells properties for their owners. Although certain real estate agents concentrate on helping buyers find and purchase investment real estate, their primary function remains focused on the sales transaction. The role of a real estate agent is entirely contingent upon the current housing market. Real estate agents frequently experience fluctuations in their business (and income) due to changes in market conditions. In certain instances, real estate agents may help find tenants for a rental property; nevertheless, their engagement with the tenant and the property owner generally concludes once the lease is signed.
Conversely, a property manager focuses on helping property owners manage their rental properties. Although services may vary among property managers, most will typically work on behalf of a property owner to manage property maintenance and repair, tenant screenings, collecting rent payments, etc. A property manager, compared to a real estate agent, has a contractual role wherein they receive remuneration for their ongoing management services. Property management is far more susceptible to negative outcomes from a downturn in the housing market. In fact, property managers may experience an increased burden during market downturns as more property owners opt to rent as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Apart from the basic differences between a real estate agent and a property manager, there are other practices that top-rated property managers do that real estate agents (and even other property managers) simply don’t. For illustration, although a real estate agent and most property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for potential warning signs. The minute a tenant has been screened, a competent property manager will initiate rapport by fostering direct interaction and clearly explaining the lease documents. An effective property manager will also schedule and perform regular maintenance on a property and address emergency repairs and tenant complaints.
Infrequent yet beneficial services provided by certain property managers encompass assisting property owners in analyzing the local market, establishing an appropriate rental rate, and proposing suggestions on maximizing a property’s earning potential and your property’s resale value. They can also help you find and compare additional rental properties, some of which may not be publicly listed. Such services are uncommon among many property managers; generally, only the most reputable in the industry will work closely with rental property owners to assist in property management and build an investment business.
The Value of a Great Property Manager
One of the nation’s top property management companies is Real Property Management. We provide a wide variety of services essential for rental property owners and investors to achieve their financial objectives and aspirations. Most of our clients perceive that the value of our services significantly surpasses the expenses because our experts will help you set an accurate rental rate and minimize expenditures through proposed home services vendors. These items are not readily available in common locations.
For further information regarding Real Property Management Horizons services in Siesta Key and its vicinity, contact us online or call 941-313-3373 today!
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