Property Management can be defined as the administration of residential, commercial, or industrial real estate assets that belong to another person. The administration is taken care of by a Property Manager who provides a variety of services to the property owner.
Generally the property owner and Property Manager meet to create a property management plan. The plan outlines the needs of the owner and the terms and conditions of the contract, as well as some general tasks the Property Manager will be in charge of. A contract will generally have certain tasks under the Property Manager’s jurisdiction, but can always be revised as needed to fit the owner’s desires.
A Property Manager is knowledgeable about the marketplace and is equipped to advertise a property within their area. They know the best prices to set for a property and they are capable of complying with any of the local laws of the real estate board.
While the property is under their care the Property Manager will take the necessary steps to preserve it. A Property Manager will make any needed repairs (either themselves or via hiring someone else) and do everything they can to maintain the property while it is in their care.
A Property Manager will find reliable tenants for a property left in their care. They will go through proper screening procedures with the tenant and create a well written lease for the property. The property manager is also responsible for collecting rent from the tenants. Should the tenant have any complaints or maintenance needs the Property Manager will take the steps necessary to rectify the issue. The Property Manager is in charge of handling any emergency situation the tenant has, and has the necessary contacts to handle any such situation. Should they see fit to, a Property Manager can also adjust the rent by a fixed percentage each year, whether by increasing or decreasing it. Should the tenant of a property ever breach the terms of their lease, a Property Manager also has the power to file for an eviction of that tenant.
A Property Manager makes money either from a fee or from a percentage of any rent generated by a property under their management.
There are a couple of reasons why you would want to hire a Property Manager. A property manager means higher quality tenants, a lower turnover for those tenants, and fewer legal problems. This, on top of taking care of any maintenance and issues with the property for the owner, means less stress on the owner. This is especially true for one who owns multiple properties.
Some of the primary advantages of having a property management company includes a higher quality of tenants, a lower turnover of those tenants, and fewer legal problems. All of this further helps in reducing any stress the buyer could have with the property.
CENTURY 21 All Professional offers Property Management. With our experienced and licensed professional realtors, we’re ready to go above and beyond to help you with your property. CENTURY 21 All Professional offers the general property management services as well as additional services, such as monthly detailed statements and 1099’s. Our tenant screening includes checking their credit, criminal records, and any previous evictions to ensure we get only the best of tenants. We do regular interior and exterior inspections that include taking photos of your property. We have 24/7 customer service for the leasing of your property and the means to advertise the property to potential tenants. In addition to this we also offer optional professional maintenance for lawns, pools, gutters, sprinkler systems, and more.
When it comes to managing your property you want to make sure you pick the right people to do it. For Property Management in Port St Lucie you can’t go wrong with CENTURY 21 All Professional. We’ve been in St Lucie County for over 15 years and have proven ourselves time and time again. Let us prove ourselves to you too. Contact CENTURY 21 All Professional for your Property Management needs.