This article answers the questions, “what does a property manager do?”, and “what are the property management duties and responsibilities?”
The short answer to the former is “whatever it takes”. That is, anything that is going to affect the bottom line of your Oklahoma City rental property.
This article shows the five main items that any Oklahoma city property management companies should be responsible for.
What Does a Property Manager Do? Property Management Duties and Responsibilities
The following are the things that property management companies do while managing your property. These pointers are also the guide for you to check if your property managers are fulfilling their duties and responsibilities correctly or not if you have already hired the property manager. Still, even if not, keep these pointers in mind if you want to hire any property management company later to take care of your rental property in Oklahoma City.
1. Property Management Companies Duty Is to Ensure That the Property Is Ready to Rent
Before they start taking prospective tenants to the property, it needs to be ready to show.
What keeps the vacancy rate of Oklahoma City property management companies low is a focus on providing units that are safe, affordable, functional, and shows well. Because of this, they lease faster for a higher rent.
2. Property Management Company Responsible for Tenant Screening
What Oklahoma City property management companies need to do is get the word out about vacant properties. Most prospective tenants will first go looking on-line to find their next rental property. Your property management company needs to have your property listed in an attractive manner that makes them want to set up a showing.
In addition, Oklahoma City property management companies need to set up showings when prospective tenants want to see the unit. That means immediately. And, when they want the unit, you need to be prepared to get their application (and a system that encourages them to submit an application).
Last but not least, you need to have a system to effectively screen their application.
If the tenant screening works out, you sign the tenant up to a 12-month lease. This is where money changes hands and the guidelines are laid down for the tenant.
3. Another Property Manager Responsibilities Is Enforcing the Lease
This includes collections, setting up service calls for maintenance, and handling other tenant requests. If the tenant doesn’t pay according to the lease, the property manager then may have to take them to court in order to collect on the lease.
4) Property Managers Do Inform the Owner About What Is Going on With Their Properties
This includes providing the owner with financial records consisting of a monthly statement with a break down of income and expenses on a per property basis.
To find out more about the services that OKC Home Realty Services, LLC has offer, click the link here to read more about property management OKC
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