Property Manager

Overview

SUMMARY:

Under the direction of the Director of Property Management, the Property Manager’s job is to utilize knowledge and experience to effectively administer all aspects of leasing and maintenance of rental property.

Duties include:

procuring new business; marketing available units; maintaining healthy tenant relations; routine property inspections; and keeping accurate records. The Property Manager position consists of the following areas:

Owners entrust us to effectively manage their rental property and make decisions on their behalf that will minimize vacancy/expense and maximize return.

• Management Agreement – The instrument that governs the relationship between the Owner and Property Management firm which defines each party’s rights and responsibilities. A thorough understanding of it is imperative.
• Owners’ Needs – Some Owners are investors with a sophisticated understanding of what it means to be a Landlord while others have been thrust into the role by circumstance. We should understand their needs and help them obtain their end goal, whatever it may be.
• Education – Owners’ needs and desires are paramount, however they should not be cause for a Property Manager to compromise his/her integrity. Our job is to educate an Owner when a request conflicts with professional standards or the rights of others.
• Marketing – Property Managers are responsible for marketing available units to prospective tenants. All available resources should be used to maximize exposure and minimize vacancy time.

• Determine Fair Market Rent – utilize and interpret local MLS data. Have an understanding of the market and factors that affect market conditions (such as time of year).
• Listing Input – prepare and submit listings for MLS, Navy Housing, etc. that effectively convey the desirable aspects of the property.
• Rental Inquiries – respond promptly to all phone and email inquiries on active listings.
• Screening – verify applicant’s rental history, income/employment and credit history to determine whether or not they qualify.
• Negotiate – present all offers to the owner. Negotiate rent amounts and lease terms for prospective leases in the best interest of the Owner.

One of the most important duties of a property manager is to enforce Lease Agreements. Property Managers should endeavor to maintain healthy tenant relations by communicating, following up, and following through.

• Lease Preparation and Enforcement – explicit knowledge and comprehension of each clause of the Lease and Lease Addenda is imperative. A property manager has to be able to interpret and enforce the Lease on a daily basis.
• Tenant Relations – swift and conscientious communications help maintain a high level of customer service. Property managers should reasonably respond to a tenant request (phone call or email) within 1 business day.
• Inspections

Knowing the physical details of each property is the first step to proper maintenance and thorough inspections are surest way to become familiar with each property.

• Move-in Inspection – Upon taking on the management of a property, and each time before a new tenant moves in, a comprehensive initial inspection sets the standard by which all that follows will be measured. More than just noting the unit’s current condition, a proper inspection should be an inventory as well as a data source for the systems of the home.
• Routine Inspections – Periodic visits to the property while tenants are in residence are necessary to ensure the tenants are taking proper care. This is also a good time to identify preventative maintenance items. These inspections allow us to address small issues before they become large problems as well as prepare the owner for maintenance that may need attention in the near future.
  
  Occupied property inspections should be conducted no less than once per year.
• Move-out Inspection – A “final inspection” must be conducted within 72 hours of the tenant vacating. During this process, the property manager identifies the discrepancies between the Move-in Inspection report and the move-out condition. It is their duty to determine which discrepancy items…