Things Every Real Estate Investor Should Know About Property Managers

When you choose a property manager to supervise your real estate investments, you need to hire a company with full-service property management solutions in Layton.  A property manager must be able to assist you with every aspect of the rental management process because you never know what is going to crop up.  If you have multiple properties, then you probably do not have the time for them to pick and choose the tasks they want to handle.  You need a manager who has the skills and clout to take care of things without you having to constantly guide their every move.  This will free up your time as an investor, so you can deal with other things that are important as well, such as family time or business meetings.  Before hiring a manager, investors need to know what capabilities property managers actually have.

The Job Functions of a Property Manager

A property manager performs several functions.  You could call them a jack of all trades when rental properties are concerned.  They will be responsible for collecting security deposits, rental payments, and any late fees that may accrue each month.  They will also be responsible for marketing rental units, dealing with customers, selecting tenants, and anything else the property owner wants them to take care of.  While they are responsible for a lot of things, their job functions are limited to the laws of the land.  They typically will not deal with property taxes, property insurance, or certain other financial matters, so it is important to get a written contract up front that designates the extent of their duties.

Following the Rules

It is the law that all property managers must follow set guidelines in regards to codes, regulations, financial matters, and other rules established by governing authorities in the states they operate in.  This includes following the Federal Fair Housing laws.  Property managers are prohibited from discriminating against tenants solely because of their race, religion, sexual orientation, or nationality.  It is important to hire a management company that has a high level of professionalism so that you do not set yourself up for problems.  These laws must be adhered to, or you as a property owner could be subjected to hefty fines and penalties.  Ensure your management company is fully aware of what the current laws are.

RPM offers property management solutions in Layton, Utah. Their skilled managers have the necessary expertise to handle any type of rental property.  Contact them today for services that are unsurpassed.

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