What does a Property Management Firm Do?
The Property Management Firm is a vital part of the operations team and they’re responsible for the day to day operation of the property.
Depending on the size of the asset, it may require a single manager or full time staff that includes a general manager, leasing agents, and maintenance workers. Either way, the property manager’s responsibilities can be divided into five categories:
The best property managers will complete all of the above activities in full compliance with all local, state, and federal laws that govern property rental. In states with a significant amount of tenant rights legislation — like New York and California — this is no small task.
Property managers as much a partner as they are manager and it’s absolutely imperative that you should find the right one. But, if you’re new to multifamily investment and new to the market, finding a reputable property manager can be a very difficult task. Our company is here to help.