Do you own property but lack the time and/or experience to manage the business-related duties required? A property manager may be the answer. But will that manager be available to assist you whenever you need their services? Do property managers work weekends?
What is a property manager?
A property manager, also called an estate manager, is a firm or person that acts as a middleman between a property owner and renters. The manager earns a fee (flat fee or a percentage of the rent collected) for overseeing the daily operations, generating income, and preserving the value of the real estate. Property managers typically run apartment and/or condominium complexes, single-family rental homes, retail malls, office buildings, and/or commercial properties. A property management company may have multiple employees with specialized training and/or development.
What does a property manager do?
There are many tasks that a property manager undertakes on behalf of the property owner. A property manager:
- Advertises the property
- Shows the property
- Finds and screens potential tenants
- Collects security deposits and rent
- Responds to tenant questions/concerns
- Arranges insurance for the property (fire, public liability, rental income, glass breakage)
- Deals with ongoing maintenance
- Hires/manages property staff
- Manages security
- Coordinates yard care/cleaning services
- Drafts/signs leases and/or lease renewals
- Creates budgets and ensures adherence
- Coordinates/completes property inspections
- Acts as the public face of the property
- Schedules repairs/maintenance
- Undertakes accounting tasks (expense and income)
- Prepares financial statements/reports
- Completes tax administration
- Provides vacate management
- Attends meetings with residents, community association boards of directors, property owners, and/or civic groups
Do property managers work weekends?
The many and varied responsibilities of a property manager require that they be available on weekends. Meetings with renters, owners, directors, and/or civic groups often occur on evenings or weekends. Evening and/or weekend hours may be required when financial and/or tax reports, condition reports, and/or outgoing bond inspections are due. Emergencies require a property manager’s attention, no matter when they occur. Weekends are often the best time to show units to people who work from Monday to Friday. Saturdays and Sundays are frequently busy with lease appointments, the search for new tenants, the collection of outstanding rents, and checking on the completion of maintenance jobs. The numerous duties of a property manager mean that their hours are many and variable.
If you have multiple properties, you’re short on time, are unfamiliar with the rental market, lack the knowledge of how to successfully rent property, are not able to provide all of the required services, have never rented property before, or wish to simplify your life, hiring a property manager is a good idea. Property managers effectively and efficiently take care of all aspects of management from marketing to the preparation of the property, to tenant selection, leasing, rent collection, maintenance, and security. Let a property management company ensure profit while reducing your stress.
Do you need the services of a property manager? GIL Property Management & Sales Ltd. is a trusted residential real estate associate. We secure the success of your rental property by attending to all details. We offer two levels of service packages, allowing you to decide how much service/support you desire, ensuring we meet your unique needs. GIL provides exceptional service! Contact us today!