Roles

One important role is that of liaison between the landlord and/or the management firm operating on the landlord's behalf and tenant. Duties of property management include accepting rent, responding to and addressing maintenance issues, and providing a buffer for those landlords desiring to distance themselves from their tenant constituency.

There are many facets to this profession, including managing the accounts and finances of the real estate properties, and participating in or initiating litigation with tenants, contractors and insurance agencies. Litigation is at times considered a separate function, set aside for trained attorneys. Although a person will be responsible for this in his/her job description, there may be an attorney working under a property manager. Special attention is given to landlord/tenant law and most commonly evictions, non-payment, harassment, reduction of pre-arranged services, and public nuisance are legal subjects that gain the most amount of attention from property managers. Therefore, it is a necessity that a property manager be current with applicable municipal, county and state laws and practices.

Most states require property management companies to be licensed real estate brokers if they are collecting rent, listing properties for rent or helping negotiate leases. A property manager may be a licensed real estate salesperson but generally they must be working under a licensed real estate broker. Most states have a public license check system on-line for anyone holding a real estate salesperson or real estate broker's license. A few states, such as Idaho and Maine, do not require property managers to have real estate licenses. Washington State requires Property Managers to have a State Real Estate License if they do not own the property. Owners who manage their own property are not required to have a real estate license, See the State Laws  however they must at least have a business license to even rent out their own home.

Commercial Property Management Services

A property management service handles the day-to-day needs of your property, minimizing vacancies and maximizing your bottom line. They will market your property, make your property accessible through websites, thorough screen potential tenants so owners gets a quality tenant to fill their vacancy.

Property managers have the knowledge to help the customer optimize their investment. They are familiar with state and local laws and Homeowner's Association guidelines. Help can also be provided to evict a problem tenant.

So Who Do You Trust?

Any twitt (or twitter) can be a self proclaimed manager. Interview your Property Management Broker as if you were interviewing that person to be a partner in your business.  IT IS YOUR MONEY.

So defined is the skill of Property Management, as it takes the understanding of both residential and commercial markets. How many maintenance people, how many staff members, how many BMWs in the driveway means nothing.

Your Property Management people become literally a partner in your business.

Henderson Valley Realty and Michael Bartok is that partner!