What is the role of a property manager and why are they becoming so important to the industry?
A property manager is a vital role for the property industry; especially a residential property manager as the role is a key support system of making sure a property can hold or increase its value.
With each estate agency a property manager’s responsibilities of the role will vary; however, this is a basic run down of their duties:
• Portfolio: responsible for the management of on average 50 – 150 properties
• Tenants: The property manager will; on behalf of a landlord be the go to person and be the first point of contact for the tenants. They will also need to deal with leases, tenant screenings, evictions, and complaints
• Property owners: A good property manager will need to liaise directly with property owners and keep them informed of all issues regarding their property such as business policies, legal issues, maintenance, repairs, tenants wishing to leave the property etc.
• Maintenance and repairs: The upkeep and running of the property is again a responsibility of the property manager, as the property needs to be kept in good habitable condition.
• Budgeting: The role will also involve a degree of secretarial and administrative tasks. It’s important to keep up to date records of all paperwork such as signed leases and insurance costs. When maintenance and repairs are required, the property manager needs to stay within a set budget agreed with the property owner
• Payment handling: Making sure rent payments are on time and paid in full. Also handling the release of deposits and if required raising disputes via TDS.
• Property inspections: To ensure the tenants are not mistreating the property and to keep record of any damages occurred before and after a tenant has moved into a property, as well as making sure that the tenant has been made liable for any damages they have personally caused.
With the role explained, the next question you may ask is what skills do you need to be able to work in property management? Typically, for most property management roles, an estate agency or administrative background is beneficial; the art of negotiation can be important in some cases however the ability to be well organised always outweighs this. An NFoPP/ARLA qualification will help ensure that you have up to date knowledge of current legislation, keeping in line with the legalities which surround property management avoiding any breaches of this.
Most positions within property management require no weekend work, in comparison with a sales/lettings role which often require you to work Saturdays. The salary base is also at a higher rate than those in sales/lettings which proves to be an attractive package.
Now we have the role and skills covered, if you are Interested in a role in property management check out our latest roles on our jobs page.