Some apartment managers are in charge of modest two- or three-unit buildings, while others oversee developments that contain hundreds of apartments. Regardless of the size of the rental property, all apartment managers are charged with handling the day-to-day operations of the development. While specific duties vary by location, size and rental rates, apartment managers work to keep rental properties functioning properly and producing revenue.

Maintenance

Everything from landscaping of a large development to plumbing trouble in an individual apartment are ultimately the responsibility of the apartment manager. Some apartment managers do the work themselves, while others delegate that responsibility. Some property managers handle contract negotiations for a number of services including security, janitorial and landscaping, according to the Bureau of Labor Statistics. Responsibility for maintenance should be spelled out in the contract between the apartment manager and the property owner.

Basic Accounting

In addition to collecting rent, apartment managers may also be responsible for general bookkeeping. Propertydo.com, an online resource for rental property advice, suggests that property managers learn how to prepare basic income statements so that property owners have a clear understanding of costs, payments and profit margins.

Lease Agreement Enforcement

Apartment managers are responsible for enforcing the terms of signed lease agreements and applicable landlord/tenant laws. As an agent of the property owner, it is the manager’s responsibility to ensure that the tenants and the property representatives are adhering to legal responsibilities. If a tenant pays rent 10 days late and the lease states that a fee is imposed after three days, then the manager is responsible for notifying the tenant of the violation and enforcing that part of the lease agreement. Many municipalities have laws that cover situations where no signed lease exists. In such situations, an automatic month-to month lease is presumed to be in effect

Marketing

Empty rental units do not produce income. Part of an apartment manager’s job is to protect and, if possible, increase the value and profit of the rental property. Most property managers are responsible for marketing vacant or soon-to-be vacant units, according to Careeroverview.com. Apartment managers are expected to use low-cost, high-impact techniques that target the ideal tenant demographic. For a college town, fliers on bulletin boards in common areas of the campus might be the most efficient way to get new tenants. For a more upscale community, mailed invitations to an open house could be the best way to reach potential renters.

by Dee Striker