Property managers perform several duties before an investment in rental property can become lucrative. Irrespective of the type of residence that they are managing, they have to carry out specific and vital tasks. Some of these duties include:
- Marketing the property to improve its visibility and reduce the vacancy rate.
- Managing the rental income to reduce cost and maximize profit.
- Setting the rents to determine the best competitive but profitable amount.
- Timely collection of rent.
- Scheduling maintenance and repairs to hire a
professional cleaning company preserve the property and keep tenants happy.
- Vetting tenants to avoid leasing the property to bad tenants.
- Protecting the landlord from lawsuits.