A very common misperception with respect to property managers and real estate agents is that these occupations are pretty much the same. But, in actuality, a property manager’s role is much different from that of a real estate agent. While both professions are very much closely tied to the housing market, there are far more differences than similarities. Knowing these differences well can help rental property owners identify who to call when professional expertise is really needed.
Key Differences
Fundamentally, a real estate agent is someone who lists and sells properties for their owners. While several real estate agents certainly 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 largely upon the current housing market. It is quite common for real estate agents to see their business (and income) moving up and down as market conditions change. Sometimes, real estate agents may help find tenants for a rental property, although their involvement with the tenant and the property owner generally ends whenever the lease is signed.
However, a property manager focuses on helping property owners manage their rental properties. While each property manager will offer their own distinct services, some will mostly work on behalf of a property owner to attend to property maintenance and repair, tenant screenings, collecting rent payments, etc. Contrary to a real estate agent, a property manager is a contractual role in which they are compensated for their ongoing management services. Property management is, moreover, much less likely to be unfavorably affected by a slump in the housing market. Conversely, property managers may observe their workload increased 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)
Past the basic differences between a real estate agent and a property manager, there are other things that top-rated property managers carry out that real estate agents (and even other property managers) simply don’t. To cite an instance, while a real estate agent and numerous property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for potential red flags. If a tenant has been screened, a superb property manager will immediately start establishing rapport with the tenant by nurturing open communication and clearly explaining the lease documents. A great property manager will further schedule and perform regular maintenance on a property and settle emergency repairs and tenant complaints.
Less common but profitable services that several property managers render include helping property owners analyze the local market, settle on a correct rental rate, and offer suggestions on maximizing a property’s earning potential and your property’s resale value. They can equally help you find and compare additional rental properties, many of which may not even be on the market. These are not customary services among countless property managers; typically, only the excellent ones in the business will work closely with rental property owners to help you check a property and build an investment business.
The Value of a Great Property Manager
Among the nation’s top property management companies is Real Property Management. That is because we offer a wide array of services that rental property owners and investors need to fulfill their financial goals and dreams. A lot of our clients distinguish that the value of our services substantially exceeds the cost owing to the fact our experts will help you properly set an accurate rental rate and keep costs down by utilizing our chosen home services vendors. These are not things that you will be able to avail of just anywhere.
To check out more information relating to Real Property Management Vitality’s services in Lawrenceville and surrounding areas, don’t hesitate to contact us online or call 470-870-6652 today!
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