Many people often confuse property managers and real estate agents as having the same responsibilities, yet these professions vary widely. However, a property manager’s role is very 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 owners, and some may specialize in helping buyers find and purchase investment real estate. Despite this, a real estate agent’s focus is generally on the sales transaction. Their work is highly influenced by market conditions, making their business and income rise and fall as market conditions change. Sometimes, real estate agents help find tenants for a rental property, but their involvement often ends once the lease is signed.
Conversely, a property manager provides ongoing services, assisting property owners in maintaining and managing their rental properties. The property manager’s role includes property maintenance and repair, tenant screenings, and rent collection on behalf of a property owner. This contractual role provides ongoing management services unaffected by housing trends, and often sees increased demand during market downturns as property owners look to renting as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Top-rated property managers do far more than simply list properties. For instance, while both real estate agents and property managers may advertise a property for rent, property managers carefully screen tenants for reliability. After a tenant is selected, a great property manager builds rapport, explains the lease, and handles any issues that may arise. They also coordinate regular upkeep, handle emergency repairs, and resolve tenant complaints.
In addition to these basics, some property managers offer advanced services like analyzing the local market to determine an accurate rental rate and providing advice on how to maximize a property’s income potential. They may even assist in identifying additional investment properties. Such comprehensive services are typically exclusive to the best property managers.
The Value of a Great Property Manager
Among the nation’s top property management companies, Real Property Management is known for providing rental property owners with a full range of services tailored to their financial goals. Our experts can help establish an accurate rental rate, reduce expenses through preferred home services vendors, and deliver unmatched value.
To learn more about Real Property Management Icon’s services in Prosper and surrounding areas, contact us online or call 469-895-9788 today!
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