Property management and property management mean the same thing. They are asked by the owners of the property to manage their property by paying a fee to the property manager. This work is called property management. In general, property managers take responsibility for the daily work of the property in their hands.
It is responsible for ensuring the communication between the owners of the property and the individuals who may be tenants. There are written contracts signed between the property manager and the property owner. This contract includes the responsibilities of the real estate manager to do his job, and the amount of salary he will receive as a result of fulfilling these responsibilities.
Why Do Property Owners Need a Property Manager?
Property owners may need property managers for multiple reasons. For example, property owners do not have enough time to take care of their property, do not want to deal with these tasks on a daily basis, have too many properties or do not live close to their property.
What is Property Management?
The management of the property has multiple administrative tasks. As it can be difficult for the owner to deal with these administrative tasks on a regular basis, they get help from the property managers. These administrative tasks we are talking about are, for example, the timely payment of the amounts to be paid for the repair of the building and the follow-up of whether the money is used in the right place while being paid.
Generally, property owners give their properties to rental companies if they want to sell or rent their properties. Often these companies assist us in getting their property to be sold, rented out, found tenants we can trust, or drafting and signing the necessary contract for sale.
Property managers are responsible for regularly collecting the rents of our leased properties or solving any problems that arise in our leased property. In addition, property managers are sometimes responsible for removing tenants from our properties.
What is Property Management?
When we look at the concept of estate management, we see that it is divided into two. First, commercially meaningful real estate management, and secondly, housing management. Commercial property management, as the name suggests, is responsible for the management of commercial properties.
Commercial properties can be offices, industrial areas or storage areas. Housing management is also the management of our homes. These residences can be apartments or detached houses. In many parts of the world, language education is required to become a real estate manager or to open places interested in real estate.
What should the property owner pay attention to?
Property owners generally have things to consider before contracting with property management about their property. For example, whether that company has sufficient experience in this management job or how much it has to pay as a result of the agreement.
Property owners need to consider the references of such companies to pay attention to them. In addition, the fee to be asked should be discussed clearly and a decision should be made accordingly. Some companies may regret later by making verbal rather than written agreements.
In order to guarantee our work, we should ask for everything to be expressed in writing. In general, the receivables of property managers vary according to the value or function of the property we give them to rent.
