Learn something new every day
More Info... by email
A real property manager is responsible for managing the day-to-day needs of those who own real property. Real property involves any sort of tangible physical property such as homes, apartments, condominiums, or commercial property. The exact functions of a real property manager vary depending upon the type of property that the manager is managing.
Typically, a real property manager is responsible for managing various types of investment properties. This can include rental homes, condos being rented, apartment buildings, or other types of commercial space. A real property manager can work for a property management company, and manage a number of different properties, or can work for an individual real estate investor.
Property managers are responsible for acting as the liaison between the person who owns the real estate and the tenants who are renting it. In other words, they do the day-to-day work of managing the property, ensuring that there are no problems, and that the property is serving as a good investment. This means a real property manager can do a myriad of tasks.
A manager may be responsible for renting the property to potential tenants. This can involve advertising the property, screening tenants, and selecting a tenant to rent the property. This may also involve running credit checks and showing the property to potential tenants.
In addition to renting the property, the manager is also usually responsible for collecting the actual rent payments. This usually involves processing the rent payments and doing simple bookkeeping. Depending on how the situation is structured between the manager and investor, this job can also include depositing rent checks into a bank account and taking legal action or evicting tenants who refuse to pay.
Tenants usually deal with the property manager directly if there are problems with the property. This means that a real property manager is often responsible for arranging for repairs, or for making the repairs himself. Typically, this involves interacting with contractors or other workers who are able to correct problems that occur at the property.
A manager may also have to deal with other tenant complaints, such as noise complaints. Many property managers are on call to resolve these issues twenty-four hours a day, seven days a week. This can be a very time-intensive and demanding job should a lot of emergencies arise at once.
Some managers may be on site, or live at the property they are managing. This is common when the real property manager manages an apartment building or other residential area. Other managers may simply visit the building periodically, or be on site only during the daytime. This is more common for those managers who manage a commercial space.
One of our editors will review your suggestion and make changes if warranted. Note that depending on the number of suggestions we receive, this can take anywhere from a few hours to a few days. Thank you for helping to improve wiseGEEK!