A popular misconception as regards property managers and real estate agents is that these occupations are more or less identical. But, on the contrary, a property manager’s role is completely different from that of a real estate agent. While both professions are rather closely tied to the housing market, there are far more differences than similarities. Perceiving these differences clearly can help rental property owners take in who to call when professional expertise is a necessity.
Key Differences
In essence, a real estate agent is someone who lists and sells properties for their owners. While numerous real estate agents actually specialize in helping buyers find and purchase investment real estate, the agent’s role is still focused on the sales transaction. The job of a real estate agent depends completely upon the current housing market. It is conventional for real estate agents to observe their business (and income) moving up and down as market conditions change. In some instances, real estate agents may help find tenants for a rental property, nevertheless, their involvement with the tenant and the property owner commonly ends as soon as the lease is signed.
In contrast, a property manager focuses on helping property owners manage their rental properties. While each property manager will present diverse services, most will normally work on behalf of a property owner to work on property maintenance and repair, tenant screenings, collecting rent payments, etc. Not like a real estate agent, a property manager is a contractual role in which they are compensated for their ongoing management services. Property management is furthermore much less likely to be unfavorably affected by a slump in the housing market. In truth, property managers may identify their workload escalates during market downturns as more property owners turn to renting 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 things that top-rated property managers execute that real estate agents (and even other property managers) simply don’t. As an example, while a real estate agent and several property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for prospective red flags.
Eventually, when a tenant has been screened, a suitable property manager will get going with making rapport with the tenant by establishing open communication and clearly explaining the lease documents. An effective property manager will also schedule and perform regular maintenance on a property and correctly handle emergency repairs and tenant complaints.
Less common but beneficial services that a few of property managers impart include helping property owners analyze the local market, determine the correct rental rate, and offer suggestions on maximizing a property’s earning potential and your property’s resale value. They can likewise help you find and compare additional rental properties, several of which may not even be on the market. These are not general services among most property managers; regularly, only the great ones in the business will work closely with rental property owners to help you supervise and manage a property 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. It has something to do with the fact that we offer a diverse range of services that rental property owners and investors need to achieve their financial goals and dreams.
Majority our clients comprehend that the value of our services greatly exceeds the cost for the primary reason that our experts will help you settle on an accurate rental rate and keep costs down by making use of our expertly picked home services vendors. These are not things that you will be able to get just anywhere.
To understand more as regards Real Property Management North Puget Sound’s services in Marysville and surrounding areas, make sure to contact us online or call 425-527-6562 today!
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