A residential property manager is typically employed by a property owner or real estate company to oversee a rental property or properties. Apartment and condominium complexes frequently have a residential manager working in an on-site office at the property. A property manager may also help with the day-to-day management of a group of smaller individual apartments or duplexes as well. The residential property manager acts as an agent for the landlord or leaseholder, helping to facilitate payment of rent and other agreed-upon fees. The property manager regularly conducts exterior inspections of the properties he or she manages, ensuring that all areas are kept up in an attractive and safe manner. They are the first point of contact when residents require repair issues; the manager schedules and prioritizes repairs and follows through to ensure their completion.
The residential property manager frequently manages all repair records and handles necessary invoicing to third-party companies who perform services as required. The residential property manager also helps ensure tenants comply with their respective leases and facilitate payment of rents in arrears and arrange documentation for evictions as necessary. Additionally, the residential property manager works to advertise and present the properties to prospective tenants. The manager ensures that all vacated apartments are cleaned and prepared for new tenants and that any necessary repairs or upkeep is accomplished in a timely manner.
Many employers will prefer to hire individuals with some sort of property management or maintenance background. The property manager typically has an office, but they may spend much of their working at properties (for tasks such as showing them to prospective tenants). A residential property manager must be well organized, have good communication skills, and have basic computer skills.
Residential Property Manager Tasks
- Process leases, collect rent, make bank deposits, verify income and maintain waiting list.
- Ensure compliance with HUD, TCAC or other regulations.
- Process evictions.
- Supervise on-site staff and coordinates repairs and maintenance.