Did you know that there are 44.1 million rental households in the United States?
If you are one of the people mentioned above, you have likely encountered either a landlord or a property manager. Property managers handle daily rental tasks, whereas landlords have complete autonomy over the property.
Are you moving or considering moving and want to understand the distinction between a landlord and a property manager? Learn more about each of their abilities and expectations.
Similarities Between a Landlord vs. a Property Manager
A property manager and a landlord are both people who manage properties. However:
- Landlords own rental property
- Property managers manage many landlords' property affairs, not just one
Property management companies such as San Francisco Bay Property Management advise their clients and keep them up to date on current events regarding:
- Collection of rental
- Maintenance and repairs of the properties and
- Any other issues that arise in the rental property
As discussed above, property owners and property managers work with clients, but to varying degrees.
Expectations From Property Managers
Property Management requires many skills that newcomers may not realize.
In the world of a San Francisco Bay Property Management Company, they expect the following expectations from its property managers:
1. Strong Communication Skills
Property managers constantly communicate. As the first primary contact for occupants, property owners, and landlords, they must always have the best communication skills.
2. Customer Service
Property managers are customer-facing. They should have strong interpersonal skills and a knack for customer service.
3. Be Organized
Property managers multitask all the time. Whether it be:
- Answering resident questions
- Finishing admin tasks
- Organizing contractors, and
- Managing repair requests
All the above functions require exceptional organizational skills.
4. Have Patience and Be Flexible
Property managers need a variety of personality and personal qualities to handle different situations.
A serious maintenance issue may need patience and flexibility, while a late-paying resident may need an assertive approach.
5. Must Be Technically Minded
In an era of digital changes, property managers must be tech-savvy to stay current with an industry adopting more digital practices.
The internet has changed property management with new technologies that, for example, allow occupants to set heating, security, and lighting for specific times. A property manager must be 'au fait' with these new technologies to help residents.
6. Basic Knowledge of Property Law
Occupants and property owners go to their property managers with any property-related issues. Therefore, they must have new skills, such as housing and health and safety legislation.
Landlord vs. Property Manager Responsibilities
A landlord's responsibilities include making decisions about the rental property. This can include:
- Repairs to the property
- Leasing and other specific requirements
- To make sure that their property meets with local health and safety laws
Landlords also list their properties. Landlords must screen tenants and collect a deposit at lease signing.
When landlords decide to hire a property manager, their duties reduce significantly.
Owning Or Managing Which Is the Way to Go?
Renting your home can be satisfying, but it can also be time-consuming and expensive. If you need to dedicate time to other obligations, you may choose to save money by hiring a property manager.
Expectations are that landlords reap the benefits of property ownership while managers are compensated for their services. Property managers can help alleviate some of the stress of rental management.
Are you looking for San Francisco Bay Property Managers? Then contact us. We are here to help!