A widespread misconception for property managers and real estate agents is that these occupations are pretty much alike. But, as a matter of fact, a property manager’s role is entirely different from that of a real estate agent. While both professions are, indeed, closely tied to the housing market, there are far more differences than similarities. Appreciating these differences can help rental property owners perceive who to call when professional expertise is much needed.
Key Differences
Technically, a real estate agent is someone who lists and sells properties for their owners. While many real estate agents focus on 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 entirely upon the current housing market. It is normal for real estate agents to see their business (and income) moving up and down as market conditions change. Every so often, real estate agents may help find tenants for a rental property, however, their involvement with the tenant and the property owner normally ends as soon as the lease is signed.
Conversely, a property manager focuses on helping property owners manage their rental properties. While each property manager will impart their own unique services, most will regularly work on behalf of a property owner to tend to property maintenance and repair, tenant screenings, collecting rent payments, etc. In contrast with a real estate agent, a property manager has a contractual role in which they are compensated for their ongoing management services. Property management is also much less likely to be abnormally affected by a slump in the housing market. In point of fact, property managers may ascertain their workload build up 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)
Above and beyond the basic differences between a real estate agent and a property manager, there are other things that top-rated property managers bring about that real estate agents (and even other property managers) simply don’t. Take one example, while a real estate agent and various property managers will advertise a rental property to find new tenants, not all of them will carefully screen those tenants for possible red flags. Supposing a tenant has been screened, a really good property manager will kick off creating rapport with the tenant by establishing open communication and clearly explaining the lease documents. A suitable property manager will likewise schedule and perform regular maintenance on a property and manage emergency repairs and tenant complaints.
Less common but useful services that most property managers render include helping property owners analyze the local market, decide on an appropriate rental rate, and offer suggestions on maximizing a property’s earning potential and your property’s resale value. They can additionally help you find and compare additional rental properties, most of which may not even be on the market. These are not usual services among most property managers; generally, only the finest in the business will work closely with rental property owners to help you handle 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. This is related to the fact we offer a considerable number of services that rental property owners and investors need to accomplish their financial goals and dreams. Majority of our clients see that the value of our services largely exceeds the cost given that our experts will help you determine an accurate rental rate and keep costs down by employing only our carefully chosen home services vendors. These are not things that you will be able to avail of just anywhere.
To discover more about Real Property Management Ideal’s services in Allen and surrounding areas, take time to contact us online or call 945-218-6083 today!
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