What Does a Property Manager Do?: 9 Duties & Responsibilities

What does a property manager do? In this article, we’ll break down the answers to that question, giving you a snapshot of the biggest property management duties and responsibilities. This way, you’ll know exactly what to expect from a property management company.

Main Takeaways

• Property managers manage the daily operations of rental properties on a landlord’s behalf. They work to make sure a property is well-maintained, is filled with qualified and satisfied tenants, and is profitable. Moreover, they do this by handling property marketing, lease agreement enforcement, legal compliance, and other matters.

What Is a Property Manager?

Property managers manage the daily operations of various rental properties. As a compensated third party, they take on much of a landlord and property owner’s responsibilities when said owner wants to step away from these burdens. A property manager’s general goals are to make sure a property is well-maintained, is filled with qualified tenants, and has earned an ROI.

Typically, most property managers, like a property manager in North Virginia, focus on individual rental properties, such as apartments, houses, condos, or commercial spaces. 

Additionally, while property managers are part of the real estate industry, they do not buy or sell real estate themselves, solely focusing on the management side of matters.

What is the Difference Between a Property Manager and a Landlord?

Property managers are the third-party professionals who landlords outsource their landlord duties to. They undertake common landlord responsibilities, like repairs and maintenance, on a landlord’s behalf. Furthermore, they are not property owners—they simply act as the owner’s representatives in day-to-day operations.

What Does a Property Manager Do?: Property Management Duties and Responsibilities

Here’s what to expect from a property management company:

• Rental Marketing: A property manager will develop and implement marketing strategies to appeal to tenants. For example, they craft detailed, eye-catching listing descriptions, post high-quality property photos, and answer inquiries quickly. 
• Tenant Management: One of the biggest property management duties and responsibilities is securing and keeping high-quality tenants. To do this, they extensively screen tenants, run background and credit checks, and verify their rental history. Also, they oversee lease agreements, gather rent payments, address challenges tenants may face, and generally make sure tenants are satisfied.
• Property Maintenance and Repairs: Routinely, an  property manager will undergo comprehensive property inspections to pinpoint needed maintenance and repairs. Also, when tenants point out repairs that they require, the property manager will handle said issues. They’ll identify the right contractors for the job, coordinate with them throughout the process, and ensure the problem is fully resolved.
• Legal Compliance: A property manager will make sure that all property practices and policies follow local, state, and federal housing laws and regulations. To give you an idea, if lease disputes, evictions, tenant complaints, or other issues occur, they will pore through each nook and cranny of the law to make sure that none of their actions spill into illegal territory.
• Communication and Reporting: A property manager will stay in regular contact with property owners so owners can stay on top of every issue regarding their investment. In doing so, they provide professional insights and advice based on industry best practices. Most importantly, they develop these insights from the perspective of someone just as immersed in the specific ins and outs of your unique property as you are. This way, they can determine exactly how to navigate industry standards within the nuances of your unique situation.
• Lease Contracts: The property manager handles creating and signing the lease with the tenant. They use their experience with lease laws, lease language requirements, and general lease drafting to make sure it’s legally binding, follows laws, and protects the landlord’s liability. By making a well-written lease, they help make sure the tenant is legally required to pay rent, avoid criminal activity on the property, and obey other policies. They can also lay out the consequences for lease breakages or failure to pay the rent. This way, all your (and your tenant’s!) bases are covered.
• Financials: As a rule, a property manager will keep track of rent payments and fees, maintenance expenses, renewal increases, and budgets (ex: marketing, lease incentives, property upgrades, repairs, etc.).
• Property Maintenance:  Property managers are responsible for finding and coordinating assistance from the appropriate maintenance vendors and property staff. Then, these specialists can handle maintenance requests and problems within the shortest possible time.
• Delinquency & Eviction: If necessary, property managers can deal with delinquencies, late payments, or non-payments. They create industry and legally compliant practices and policies to grapple with these issues, such as offering a grace period, giving formal notice to the tenant to request payment, and undertaking the legal eviction process if needed.

What Is an HOA Management Professional vs. a Property Management Professional?

Despite what one may assume, homeowner’s association (HOA) managers and property managers don’t have the same roles and responsibilities. Although they both oversee properties and handle administrative tasks, their daily roles have a few key differences.

For instance, a HOA manager mainly works with homeowners’ associations. HOAs are organizations within communities that create and enforce rules for their properties and residents. In that vein, HOA managers govern their given community, doing tasks like enforcing community rules, managing finances, and overseeing common area maintenance. 

On the contrary, a property manager handles the overall day-to-day management of individual properties—not their surrounding communities—on behalf of property owners. This includes enforcing the property’s policies, managing its finances, and overseeing its maintenance. Furthermore, they are solely responsible for the health and safety of their property’s tenants, and no one else’s.

What Are the Qualifications for Becoming an  Property Manager?

Most states have qualifications that property managers must pass to be involved in the profession. Here they are:

Minimum Qualifications of a Property Manager

1. Minimum age of 18 or 21 years depending on the state
2. High school diploma or equivalent GED
3. Legal US citizen or permanent resident
4. Real Estate License Coursework and Passing Score on Real Estate Licensing Examination (if needed per state law)

Property Manager Certifications

• National Apartment Leasing Professional (NALP)
• Certified Property Manager (CPM)
• Certified Apartment Manager (CAM)
• Master Property Manager (MPM)

How to Know if You Need Professional Property Management Support

If any of the following points resonate with you, they may be reasons you need a property manager:

1. You want the financial benefits of being a landlord, but you don’t want the day-to-day burdens that come with it. This is a property manager’s entire job, so they can take this off your plate.
2. You’re struggling to make time for upholding your landlord responsibilities while also having a job, family, etc. Again, property managers make your property their primary responsibility, so they can focus their full attention on it.
3. You are not well-versed in the logistics and best practices of property management. Furthermore, you don’t have the time to do all the due diligence this requires, and you can’t risk the tenant turnover that any mistakes may cause. property managers come equipped with this experience and knowledge on how to apply it.
4. You can’t travel to your property as much as you’d like, or, you have to travel constantly to get to it. Worst of all, this point can be especially problematic if a sudden emergency occurs. On the other hand, property managers live right nearby and can visit your property as needed.
5. You’re finding it difficult to get rent from tenants or effectively stop lease violations. Property managers have built-in techniques to enforce and escalate these issues.
6. You’re having a hard time attracting and securing new tenants, especially suitable ones. You don’t know the best marketing techniques for every demographic, market, and other conditions that impact tenant appeal. Again, property managers have tools in their arsenal that allow them to reach a wide-reaching audience, such as specialized online tenant portals.
7. When you have high vacancy rates, and it’s not stopping. Property managers can work on the ground to squash issues as they arise, which can stop vacancies in their tracks.
8. You need help ensuring that you stay legally compliant to avoid lawsuits. Property managers’ job is to stay up-to-date with the law and maintain policies that comply with it.
9. You’re juggling multiple properties at once and it’s hard to keep track of them all. If you have one too many to handle at once, you may want support so that nothing falls through the cracks.

Find a Reliable Property Manager Near You

Owning and managing properties takes time, effort, and dedication. However, not every rental property owner has the time or desire to manage tenant relations and property maintenance. As such, those who want to own properties but don’t want to make managing them a full-time job often hire property management to help. 

To find a reliable property management company, you’ll want to start locally. It’s important to find someone that services the areas where your properties are located. Additionally, you’ll want to check reviews and what types of services each company offers. Look for the services that your properties need, and find a property manager that’ll cater to your needs. 

For instance, PPM offers comprehensive rental management services. So, whether you need help marketing properties, screening tenants, performing maintenance, collecting rent, and more, we’ve got it covered. Contact us today if you’re looking for meticulous rental management near North Virginia.