There is often confusion about the roles of property managers and real estate agents, but a property manager’s role is distinctly different from that of a real estate agent. While both professions are closely tied to the housing market, there are far more differences than similarities. Understanding these differences can help rental property owners know who to call when professional expertise is required.
Key Differences
A real estate agent is a professional who lists and sells properties for their owners. While some real estate agents specialize in helping buyers find and purchase investment real estate, their primary focus is on the sales transaction. Because real estate agents depend on the current housing market, their business often fluctuates with market conditions. Occasionally, real estate agents may assist in finding tenants for rental properties, but their involvement typically ends once the lease is signed.
On the other hand, a property manager helps rental property owners by overseeing the ongoing management of their rental properties. A property manager’s role includes property maintenance and repair, collecting rent payments, and tenant screenings, among other responsibilities. Unlike real estate agents, property managers are compensated on a contractual basis for ongoing management services. This makes property management more stable, as it is not subject to the fluctuations of the housing market. In fact, during market downturns, many property owners turn to property managers as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the basic differences, top-rated property managers offer services that real estate agents don’t typically provide. For example, while both may advertise a rental property, property managers also carefully screen tenants, explain lease terms, and cultivate relationships with tenants by maintaining open communication. Property managers are also responsible for coordinating regular maintenance and handling emergency repairs and complaints from tenants.
In addition, some property managers help rental property owners by conducting local market analyses, setting accurate rental rates, and offering suggestions on maximizing a property’s earning potential. They can even assist in finding other rental properties to add to an owner’s portfolio, often properties that are not yet on the open market. These extra services are typically available only from the most experienced property managers.
The Value of a Great Property Manager
One of the nation’s top property management companies, Real Property Management, offers a full range of services that rental property owners need to maximize their investment. Our experts not only help set accurate rental rates but also work with trusted home services vendors to keep maintenance costs low. These are the types of services that set us apart.
To learn more about Real Property Management Upstate’s services in Onondaga County and surrounding areas, contact us online or call 315-498-1235 today!
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