The term property management covers a broad range of topics and the duties of a property management team include many jobs that people often associate with a landlord. This is because a property management team acts as the face to a landlord; they free up a landlords time, meaning as a tenant you get the best possible experience and help when you need it.
There are many different jobs done by a property management team, which includes the following:
• Accepting rent
• Responding to and addressing maintenance issues
• Advertising vacancies for landlords
• Doing credit and background checks on tenants
A property management team manages the construction, development and repair and maintenance on a property. As well as all of the above it is possible that a property management team will also participate in litigation with tenants, contractors and insurance agencies. Basically a property management team acts on the behalf of landlords for all the matters that relate to a property.
Property management teams will charge landlords a percentage of the rent that is collected from tenants every month. This percentage is usually within the region of 3 to 10%. The percentage of rent that is given to a property management team is done so for the work that is done by a property management team.
So we know that the work done by a property management team highly benefits a landlord as it keeps their time free to get on with other aspects associated with the rental process but how does a property management team benefit a tenant? A tenant will be given peace of mind that the property they are renting will be kept in the best possible condition, they will have a good routine of rent collection, making them aware of when payments are due and if anything goes wrong with the property at any time a tenant knows that help is merely a phone call away. This is because most property management teams offer tenants a 24 hour help line so if you are unfortunate enough to suffer a burst pipe at 3am for example, you know that it will be fixed in a quick and easy manner.
Property management is a people business meaning that every time you enter into a new lease you are starting a new relationship and within this relationship you will have to play many roles such as landlord, friend and foe to name merely just a few.
It is also essential that a property management team keeps up to date with current country laws and practises as some of the aspects that you may be up against include sorting out evictions, dealing with tenants that have missed payments, handling harassment cases as well as legal subjects. These are aspects that tend to gain the most attention from a property management team.
The best advice that can be given to a landlord is to enlist the help of a property management team as nothing will benefit you more when it comes to the property market.
Helen is the web master of
ARCH Property Management, specialists in all aspects of
Property Management. 
