• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
  • Twitter
  • YouTube

Owner Login | Tenant Login | Get a quote: 323-255-9400 ext. 4

Los Angeles Property Management Group logo

Los Angeles Property Management Group

Property management in Los Angeles & the Valley, done right.

  • Residential
    • Services Provided
    • Single Family Residence
    • Luxury Property Management
    • Tenant Selection
    • Maintenance
    • Video Marketing Your Property
    • On-Site Managers
    • Agent Referral Program
  • Commercial
    • Services Provided
    • Maintenance
    • Agent Referral Program
  • Why Choose LAPMG
    • Mission Statement
    • Recent Reviews
    • Awards and Recognition
    • Why May 12th Matters
    • True Property Management Horror Stories
    • Video Resources
  • Articles
    • David Crown in Forbes
    • Q & A with CEO David Crown
    • LAPMG Talks
    • Case Studies
    • FAQ
    • Featured Article of the Month
    • Featured Elsewhere
    • Industry Blog
  • Areas Served
    • Burbank
    • Culver City
    • Glendale
    • Hawthorne
    • Inglewood
    • Los Angeles
    • North Hollywood
    • Pasadena
    • San Fernando Valley
    • Santa Monica
    • Sherman Oaks
    • Studio City
    • West Hollywood
  • Contact
    • Our Team
    • Portal Logins
    • Prospective Tenants
    • Employee of the Month
    • Careers
    • Privacy Policy

Role of a Property Manager in Property Management

November 16, 2018

Role of a Property Manager in Property Management

Role of a Property Manager in Property Management

Did you know, in the U.S, the property management industry has grown by 4.0%, over last five years, to attain the revenue of $81bn in 2018? In the same period, 3.9% of businesses flourished with 2.9% rise in the number of employees.

Importance of property management is increasing with every passing day in both developed and economic industries. With this increasing significance of property management, the role of a property manager is becoming more crucial because he is the major gamer player in the industry.

What is property management?

Property management is the oversight of real estate property including residential, commercial and industrial area. The owner of a property appoint property manager and it has to act on behalf of the owner to keep the property safe and able to generating revenue. Mostly, this term property management uses real estate agents when they take charge of maintenance, advertisement and leasing the house or business.AProperty Manager is a liaison between an owner and tenants of a property and makes satisfied both parties with the property. Good property management enhances the value of an asset.

Role of a property manager:

The responsibility of a property manager never remains the same, it may vary according to the type of property but the most common responsibilities are as follow.

  • Rent Setting:

The Property manager must know the market rate of the property so that they can adjust the rent according to the location. Property managers can increase or decrease the rent and fully responsible for collecting the rent on time.

  • Finding Tenants:

They are responsible for finding the tenants for filling the vacancy. They should know where to advertise and what to include in their ads.

  • Maintenance and repair:

They should keep the property working in top conditions. They must hire someone to check landscape, leaks, shovel snow and remove trash because maintenance of property keeps the current tenants happy and appeals to other tenants.

  • Know about the Landlord-Tenant law:

A good property manager has in-depth knowledge about national laws regarding

  • Property safety standards
  • Expel a tenant
  • Security deposits
  • Terminate a lease
  • Screen a tenant
  • Responsible for taxes

 

 

 

 

Filed Under: Commercial Properties, LA Property Management News, Property Management Education, Residential Properties Tagged With: basics of property management, landlord tips, Los Angeles property management

Primary Sidebar

    PROPERTY OWNERS: CONTACT US FOR A FAST FREE QUOTE

    (This space is not for tenant contact)








    Loading...

    Footer

    Award-winning management means:

    Best property management in Los Angeles - Our Awards

    • Maximum profits.
    • Responsive service.
    • Vacancies filled quickly.
    • Accurate understandable monthly reports.

    Proud Members of:

    AAGLA AOACA AIR Commercial Real Estate Association Member BOMA 2022 Member of Forbes Real Estate Council

    Contact Information

    
    

    YouTube LAPMG   Facebook LAPMG   Twitter LAPMG

    Los Angeles Property Management Group
    10960 Ventura Boulevard Second Floor
    Los Angeles, CA 91604
    Phone: 323-255-9400
    Contact Us

    Los Angeles Property Management Group is registered with the California Bureau of Real Estate License #01931033.
    Kyle Crown License #01936385
    David Crown License #01157354

    © 2023 Los Angeles Property Management Group · Privacy Policy
    10960 Ventura Boulevard Second Floor, Los Angeles, CA 91604 · Phone: (323) 255-9400
    LAPMG is committed to ensuring digital accessibility for people with disabilities. We are continually improving the user experience for everyone and applying the relevant accessibility standards. If you have any issues, please contact dcrown@lapmg.com.