Property Management – WoodlandhIlls

Property management is the oversight of a property by a property manager on behalf of the property owner. The owner generally pays the manager a fee. In exchange, the manager usually handles the day-to-day management of the property, serving as a liaison between the owner and any tenants. Property owners and managers typically enter into a written contract specifying the duties to be performed by the manager and the compensation to be paid by the owner.

Property owners may elect to use property managers for a variety of reasons. If an owner has multiple rental units, he or she may find it helpful to engage a property manager. An owner with limited time or an owner who does not want to be involved in the day-to-day management of a property may also benefit from the assistance provided by a property management company. In addition, property managers can prove invaluable to owners that live far away from their rental properties.

Managing a property often involves a variety of administrative tasks, including handling property maintenance, supervising building repairs and ensuring outgoing expenses are paid. Owners who desire to rent their properties to tenants may use the services of a rental property management company. These types of companies can provide services such as marketing rental properties, securing tenants, and negotiating rental lease agreements. Additionally, a rental property manager is usually responsible for collecting rent and addressing tenant complaints. Some rental property managers may even handle tenant evictions.

From wisegeek.com

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