Property management is a broad term that covers a wide range of services. In its most basic form, property management is the oversight and care of real estate property and assets. This can include everything from marketing and leasing vacant units to collecting rent and maintaining the property.
Most property management companies will tailor their services to meet the specific needs of their clients. For example, some may focus primarily on marketing and leasing, while others may offer full-service property management that covers everything from financial reporting to on-site maintenance.
Below is a list of some of the most common services offered by property management companies:
- Marketing and Leasing:
One of the most important functions of a property management company is to market and lease vacant units. This includes everything from advertising the units to showing them to prospective tenants and processing applications. A good marketing strategy will help you to lease your units quickly and for top dollar. It should include online and offline advertising, as well as a way to track your results so that you can continually improve your results.
- Rent Collection:
Another key function of property management is to collect rent from tenants. This can be done either manually or electronically, and property management companies will often offer rent payment options such as online payments, automatic withdrawals, and even in-person payments.
Another key function of property management is to keep track of maintenance and repair needs for the property. This includes keeping track of scheduled maintenance, tracking repair requests, and keeping track of work done on the property. This can be done either manually or electronically, and property management companies will often offer online tools to help tenants keep track of their maintenance and repair needs.
- Maintenance and Repairs:
Property management companies are also responsible for maintaining the property and ensuring that all repairs are made in a timely manner. This can include everything from scheduling preventive maintenance to responding to tenant requests for repairs.
- Financial Reporting:
Many property management companies also offer financial reporting services. This can include everything from preparing monthly statements to preparing year-end tax reports.
In some cases, property management houston companies may also be responsible for initiating and carrying out evictions. This can be a time-consuming and complicated process, so it is often best left to the professionals.
Property management companies offer a wide range of services that can be tailored to meet the specific needs of any property owner. Whether you need help with marketing and leasing vacant units, collecting rent, or maintaining the property, there is a property management company that can help.