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What Does a Property Manager Do?

Property management is the process of managing and operating real estate properties on behalf of the property owner. It involves handling various aspects of the property’s leasing, maintenance, finances, and tenant interactions to ensure smooth and efficient rental operation. Property managers are responsible for safeguarding the property’s value, maximizing rental income, and maintaining a positive relationship between the owner and the tenants.

Here are the key responsibilities and tasks we handle at NOVA Rental Property Management:

  1. Marketing and Advertising: We promote vacant properties to attract potential tenants through advertising and marketing efforts. We use various channels to showcase your property’s features and attract suitable tenants.
  2. Tenant Screening: Before renting to new tenants, we conduct background checks, credit checks, and rental history verifications to assess potential tenants’ reliability.
  3. Lease Agreements: We draft lease agreements that outline the terms and conditions of the rental, including rent amount, lease duration, security deposit, pet policies, and other rules.
  4. Tenant Relations: We handle tenant inquiries, address complaints, and enforce lease agreements. We are also responsible for collecting rent and managing lease renewals or terminations.
  5. Inspections: We inspect the property to assess the condition and ensure tenants adhere to the lease terms.
  6. Property Maintenance: We oversee regular property maintenance and repairs. We coordinate with maintenance personnel or contractors to address issues promptly and keep the property in good condition.
  7. Rent Collection: Collecting rent from tenants on time is our crucial responsibility. We ensure that rent payments are received and processed efficiently.
  8. Accounting and Finance: We handle the financial aspects of the property, including budgeting, accounting, and financial reporting to the property owner. We also manage property-related expenses, pay bills, and maintain financial records.
  9. Compliance and Regulations: We stay up-to-date with local and state laws and regulations. We ensure that the property complies with all safety and habitability standards.
  10. Evictions: In unfortunate cases where tenants violate lease agreements or fail to pay rent, we handle the eviction process in compliance with local eviction laws.

Property management is essential for owners who may not have the time or expertise to manage their properties effectively. It allows property owners to delegate day-to-day tasks and responsibilities to professionals who specialize in managing properties, thereby ensuring the property’s value is preserved, and the rental income is maximized.

If you think hiring a property manager might be right for you, contact us today for a free consultation.

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