» Certified Property Manager

  • Responsibilities of a Certified Property Manager
    By admin on April 23, 2009 | 69 Comments69 Comments  Comments

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    A certified property manager can help to increase the market value of property. Many people invest in property as it gives good returns in the future. Property owners can also earn from their realty by giving it out on rent.

    Renting Out Property Involves A Lot Of Hassles

    Rented residential and commercial property is in great demand nowadays. Many people prefer to stay with their families in rented apartments as the capital for buying a house is not required. Also the maintenance costs are low as most of the major repairs are financed by the owner.

    Similarly commercial property is also in great demand as there are many small businessmen who do not own large offices where all their goods can be stored. Instead they opt for the system of self storage in which shops or office spaces are taken on rent for storing their items.

    However, giving out property on rent involves a lot of hassles. That is why owners prefer the services of a certified property manager .

    Maintenance of the property is essential for attracting tenants. By hiring a trained manager, the owner can rest assured that his building or shop space will always be in good condition and no repair work will be pending.

    Especially in the case of apartments, the manager can suggest and implement positive changes with the owner knowledge. These could include providing better storage facilities and lighting.

    Sound Financial And Legal Knowledge Is Required

    Proper marketing and advertising of the property is essential to draw tenants. Appropriate measures will be taken by the manager like placing advertisements in newspapers or the internet.

    Showing prospective tenants around the place and following up the clients will also be done by the manager. It is important to verify the details of the tenants like their monthly income and credit history that is whether they have paid their rents on time in the past. Due to his manpower and experience the manager can carry out such verification more effectively than the owner.

    A certified manager has sound knowledge about financial and legal issues related to landed property. The rent of the apartment has to be fixed in keeping with the current rates of the locality.

    Also once the tenant is selected, the deal papers have to be prepared and signed by both the owner and the tenant. A trained manager has the knowledge about different clauses that have to be included in the deal keeping the benefits of both the owner and the tenant in mind.

    In case some tenant violates the deal, like not paying rent on time repeatedly or causing any damage to the property, the manager will take suitable legal action against him.

    All interactions between the owner and the tenant will be done through the manager. He will also be responsible for the collection and deposition of rent in the owners account.

    Good Interpersonal Skills Are Needed

    In large properties like multi storied buildings, a managing firm looks after the different aspects of the property. Such firms consist of several certified managers who have formal training so it is a lucrative career option nowadays.

    Certified property managers need good interaction and communication abilities as they have to attend to complaints of tenants. Also if there is any problem between two tenants the manager will solve such issues in an amicable way.

    He will also be responsible for maintaining a safe and healthy environment within the premises. For instance suitable signs can be used in the parking area for systematic driving of vehicles to avoid chaos and accidents. Also areas where repair work is done should be properly demarcated to avoid mishaps.

    By relying on a certified manager the owner can keep his tenants happy and be tension free himself.

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