Key Differences
By definition, a real estate agent is someone who lists and sells properties for their owners. Although various real estate agents specialize in helping buyers find and purchase investment real estate, the agent’s role is still directed on the sales transaction. The task of a real estate agent depends completely upon the present housing market. It is usual for real estate agents to find their business (and income) moving up and down as market conditions change. In several cases, real estate agents may help go in search of tenants for a rental property, but really, their involvement with the tenant and the property owner typically ends up as soon as the lease is signed.
A property manager, though, concentrates on helping property owners manage their rental properties. Though each property manager will provide different services, the majority will mostly work on behalf of a property owner to supervise property maintenance and repair, tenant screenings, collecting rent payments, and so on. Unlike a real estate agent, a property manager is a contractual role in which they are paid for their ongoing management services. Property management is moreover much less likely to be adversely affected by a slump in the housing market. In reality, property managers may see their workload increase over market downturns as more property owners resort to renting as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the primary differences between a real estate agent and a property manager, there are other things that leading property managers do that real estate agent (and even other property managers) just don’t. To cite an instance, even while a real estate agent and most property managers will advertise a rental property to find new tenants, not all of them will securely screen those tenants for probable red flags. After a tenant has been screened, a great property manager will begin making rapport with the tenant by developing open communication and straightforwardly explaining the lease documents. An impressive property manager will likewise schedule and perform regular maintenance on a property and look after emergency repairs and tenant complaints.
Less common but moreover helpful services that certain property managers provide include helping property owners analyze the local market, set an accurate rental rate, and offer proposals on how to maximize a property’s earning potential along with your property’s resale value. They can furthermore help you search and compare additional rental properties, some of which are not even on the market yet. These are rare services among several property managers; generally, only the best in the business will work attentively with rental property owners to aid you not just to manage property but make an investment business.
The Value of a Great Property Manager
Classified among the nation’s top property management companies is Real Property Management. This is due to the fact that we present a full range of services that rental property owners and investors require to achieve their financial goals and dreams. A lot of our clients identify that the value of the services we offer clearly exceeds the cost, particularly, since our experts will support you to set an accurate rental rate and keep costs down by working with our preferred home services vendors. These are not things that you will be able to see just anywhere.
To learn more about Real Property Management Limitless’s services, contact us online today!