A usual misconception about Miami property managers and real estate agents is that these occupations are more or less the same. But in reality, a property manager’s task is not the same as that of a real estate agent. While both roles are closely linked to the housing market, there are far more differences than similarities. Knowing these differences can help rental property owners understand who to call when professional expertise is needed.
A real estate agent is a person who lists and sells properties for their owners, by definition. While a couple of real estate agents specialize in aiding buyers to find and purchase investment real estate, the agent’s role is still centered on the sales transaction. The work of a real estate agent is dependent on the current housing market. As market conditions change, it is normal for real estate agents to find their business (and income) going up and down. In some situations, real estate agents may provide tenants a rental property. Still, their participation with the tenant and the property owner typically ends when the lease is signed.
On the other hand, a property manager focuses on helping property owners manage their rental properties. A property manager can offer a lot of services, but most of their task involves working on behalf of a property owner to oversee property maintenance and repair, tenant screenings, collecting rent payments, etc. A property manager is a contractual role wherein they are paid for their ongoing management services. This is different from that of a real estate manager. Property management is also less likely to be influenced by a drop in the housing market. In fact, property managers may see their workload go up during market downturns as more property owners look to renting as another option to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the fundamental differences between a real estate agent and a property manager, there are some tasks top-rated property managers do that real estate agent and other property managers usually don’t. While a real estate agent and the majority of property managers will advertise a rental property to get new tenants, not all of them will screen those tenants in full for potential red flags. After a tenant has been screened, a good property manager will start building rapport with the tenant by having open communication and expounding the lease documents clearly. To add, a good property manager will schedule and perform regular maintenance on a property and deal with emergency repairs and tenant complaints.
Aiding property owners as they analyze the local market, setting an accurate rental rate, and providing suggestions on how to maximize a property’s earning potential and your property’s resale value are some of the few common but valuable services that some property managers offer. They can also help you find and compare additional rental properties. And if you want, they can look for properties that are not yet on the market. These are not common services among most property managers. Usually, only the top in the business will closely work with rental property owners to assist you not just manage property but build an investment business.
The Value of a Great Property Manager
Real Property Management is one of the country’s top property management companies. The reason for this is that we can give a full range of services that rental property owners and investors need to reach their financial goals and dreams. Our experts will assist you in setting an accurate rental rate and keep costs down by using our preferred home services vendors. This is why a lot of our clients will tell you that the value of our services far exceeds the cost. And these are great offers that you can’t find just anywhere else.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.