Property Manager Duties:
Welcome to Basic Differences: Property Management and Real Estate Pt. 2
A property managers duties run the extent when it comes to rental units. They not only collect rent but also take care of basic repairs and maintenance. The property manager examines the properties on the regular basis. The property manager takes care of all relevant paperwork including documents needed for tax purpose, hires certified contractors. If the landlord hires a property management company rather than a property manager serving as their employee, the landlord does not have to deal with the issue that comes.
Real Estate Agents:
If you have ever bought or sold a house you just used the services of the real estate agent. The real estate agent knows the local real estate market and the cost and availability of the type of house his client wants. If you are selling your home your agent will arrange not just for marketing your home. Buying or selling a home requires a huge amount of paperwork.
Real Estate Agent Commission:
Real estate agents work on commission. The agent commonly receives 6 percent of the houses sale price. The real estate agents must share part of their commission with their brokerage agencies.
- The real estate industry deals with register and selling of properties on behalf of a property owner. The property management deals with all management features of the property on behalf of the property owner including maintenance, repairs and more.
- Real estate is a transactional business versus property management which is a contractual business. The property manager and property owner enter into a contract where the percentage of the rent collected is paid to the property manages in exchange for management services.
- The property management industry remains an exciting and booming business. The real estate market is frequently up and down. When the real estate market is in a fall. Many property owners will turn to property managers to rent out their homes until the housing market spring back.
Responsibilities of the real estate property manager:
Real estate property management involves a sympathetic of effective expenses and budgeting. By using this information the best rental rate is set for us. The property manager using special promotion and advertising strategies to the owner in order to maximize the rental rates. Understanding financial statements, profit and loss, income taxes, and budgeting are very important for the property manager. Property management is also responsible for managing the electrical, roof, walls and appliances.
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