Buying a rental? Use a property manager!
As a property manager, the day-to-day experience of dealing with properties gives us a unique and in-depth understanding of the ins and outs of home ownership. Unlike regular real estate agents who may only handle a few transactions a month, property managers are responsible for managing hundreds of units and dealing with the day-to-day struggles of home ownership on a regular basis.
One of the biggest differences between property managers and regular real estate agents is the level of knowledge we have about homes. Because we are responsible for the ongoing maintenance and repair of the properties we manage, we have a deep understanding of the different systems and components that make up a home. This includes things like plumbing, electrical, HVAC and more. This knowledge allows us to quickly identify and troubleshoot problems that may arise, and to make informed decisions about repairs and upgrades.
Another area where property managers have a unique advantage over regular real estate agents is in our understanding of local housing markets and regulations. As property managers, we are responsible for setting and enforcing rental policies, dealing with tenant issues and complying with local laws and regulations. This means that we have a deep understanding of the local rental market, including things like fair market rents, and we are aware of the laws and regulations that affect landlords and tenants. This knowledge helps us to make informed decisions about how to price and market properties and how to navigate the legal landscape of property management.
Property managers also have a lot more experience dealing with tenants than regular real estate agents. We are responsible for all aspects of the tenant experience, from screening tenants and signing leases to dealing with rent collection and handling maintenance requests. This means that we have a deep understanding of the needs and concerns of tenants, as well as the skills to effectively communicate with and manage tenants. This experience helps us to build strong relationships with tenants and to keep properties fully occupied and running smoothly.
In addition to these specific areas of expertise, property managers also have a lot more hands-on experience with properties than regular real estate agents. As property managers, we are responsible for the day-to-day care and maintenance of properties, which means that we are constantly working with properties in a variety of different contexts. This hands-on experience gives us a unique understanding of the properties we manage, and it helps us to make informed decisions about how to best maintain and improve them.
In conclusion, the day-to-day experience of dealing with properties makes property managers a lot more knowledgeable about homes than the average real estate agent. Property managers have a deep understanding of the different systems and components that make up a home, local housing markets and regulations, tenant's needs and concerns, and a lot more hands-on experience. This knowledge and experience help us to make informed decisions about how to best care for and improve the properties we manage, and it sets us apart from regular real estate agents who deal with a lot less houses and don't have the same level of expertise and hands-on experience.