In this article, Sarouty.ma will explain what a real estate manager is, why it is important, and how to choose one in order to maximize the performance potential of your rental property.

What is a real estate manager?

A real estate manager is defined as any person or company who performs various tasks related to the operation of residential or commercial rental property in exchange for remuneration. In short, you pay them to take care of tedious work so that you can invest your time elsewhere.

Tasks related to the management of a property vary depending on the type of property, its size, its location and personal preferences. That being said, here are some of the general responsibilities of a real estate manager:

1. Property maintenance
2. Visits planning
3. Registration and advertising
4. Selection of potential tenants
5. Rental contracts
6. Collection of deposits and rents
7. Respond to the requests and emergencies of tenants

Real estate managers are not all the same. In many cases, a real estate manager or a management company specializes in a specific field of expertise. Not all experienced real estate managers are adapted to the same role. For example, a real estate manager can have years of experience in the management of single -family residential properties, but not to be up to the task when it comes to managing a multifamily unit as a complex of residential apartments.

The responsibilities of the real estate manager also depend on the role you wish to entrust to him. You can entrust him with specific tasks, such as responding to the emergency room of tenants, planning current interview and collecting rents, while outsourcing other tasks such as rental, marketing and legal issues. You can also choose to start a management company that can take care of all the needs of your property.

Why hire a real estate manager?

If you have the time and resources you need to manage a property yourself, you can save a little money. However, the management of a property can be a full -time responsibility. Many investors do not have time or the desire to manage their rental property. Here are some common reasons to hire a real estate manager.

1. Stress

Managing a rental property means spending a lot of time solving problems. Rental goods are not always a pleasure. You will sometimes find yourself in difficult situations. You may be faced with expensive repairs, damage due to storms, difficult tenants who do not pay their rent or complicated expulsions. It is easier to make logical decisions when you are far from a potentially emotional or stressful situation.

1. Temps

Whether you have a full -time job or just prefer to invest your time elsewhere, the hiring of a real estate manager will release your schedule. If you want to avoid having to deal with maintenance emergencies at 3 am, to ask quotes from suppliers, or to try to put visits to your busy schedule, you will need a real estate manager. By delegating the responsibilities of the property to a real estate manager, you will be free to earn money without worrying.

1. Efficiency

A quality real estate manager can help you maximize the gain potential of your property. Many managers have reliable expertise and resources to work effectively and avoid losses. Most real estate managers know the laws and regulations relating to tenants and owners and can deal with disputes, leases and financial management. They have approved suppliers to effectively manage maintenance and repairs. Most importantly, they will probably have set up tenant selection processes to reduce the rotation or vacation rate.