Welcome to our channel. Please like and subscribe if you haven't already. Share this with your friends, family, realtors, landlords, aspiring landlords, and everything in between. My name is Ernesto and I've managed over 2,500 rental properties. That includes single-family homes, small multifamily, and large single-family home portfolios.
So I get this question a lot. It comes up all of the time. What does a property manager actually do? You may be trying to decide now whether you want to manage your property yourself or if you want to hire someone to manage your property.
Whichever way you choose, we're going to be diving in today on what it really looks like for a property manager day in and day out. What are some of the macro level aspects of managing a property that they will be handling on your behalf? Let's take a deep dive. Number one, property managers or property management companies will help.
find a tenant for the property. They also replace tenants when needed, and they also collect the rent. That's the big number one. Number two, they're going to enforce the lease.
Enforcing the lease is such an important component when it comes to property management. Not many people are built for it because sometimes it can be painful, but this is one of the responsibilities that property managers are able to take off your hands. Along with enforcing the lease, they'll be taking care of the property. of the eviction process, sending out notices and filing for the eviction.
This is one of those common services provided by property managers. And number three, they're going to take care of the day-to-day repairs at a property. That entails building relationships with third-party vendors and also local handymen.
One of their other responsibilities is to make sure they reach out to you for approval for some of the major repairs going on at the property. Those are the three major things that you can expect from your property manager. Reach out to your local property manager to connect with them to get a better sense of what the services are that they provide. Not all property management companies are created equal. Again, not all property managers provide the same type of services.
Do your due diligence by looking at their reviews, but also looking at the responses to their reviews. This is a tough industry. It's multi-layered. There are fair housing laws.
There are state laws. We have to sometimes do what the landlord wants us to do. We handle security deposits.
And also, make sure to connect and read all of their terms and all of their services. As a quick recap, this is what property managers do. They help you find a tenant, they enforce the lease, and they handle day-to-day repairs on your behalf.
Thanks for tuning in. Continue to follow us. Lots more content coming out.
Thank you