If you are an investor in rental properties and want to spend your time building wealth by increasing your investment holdings, and DO NOT want to spend valuable time dealing with rental property related issues such as; marketing the property, finding the right tenants, collecting rents, dealing with tenant issues including emergencies, maintain property appearance, dealing with contractors, etc., then you need the services of a professional property manager.
Although a competent property manager can relieve you of all the burdensome issues and chores that are necessarily part of rental property ownership, not every property manager is the right one for every landlord.
Technical and personal skills can vary from manager to manager. For example, some managers are skilled and experienced in rental property management, others have the expertise to properly and effectively manage commercial properties.
When choosing a property manager, landlords should be aware that the level of a manager’s expertise coincides with the level of training and experience the manager has.
For instance, a manager who specializes in shopping center properties may have received certification as a shopping center manager by the International Council of Shopping Centers.
A manager with a CSCM certification is the one you might choose to manage your commercial property holdings.
A Certified Property Manager (CPM) would have received certification from the Institute of Real Estate Management (IREM). IREM is affiliated with the National Association of Realtors, and a CPM would have expertise in managing residential rental properties.
However, a property manager’s skills are – though vitally important – not the only factors to consider when choosing a manager. The landlord/property owner must also take into consideration the fact that the landlord’s expectations and goals, and the property manager’s management “style” and priorities are in sync.
Certainly, the landlord must be assured that the manager who is chosen will work within the framework of the landlord’s expectations. But it would be to the landlord’s benefit to also hire a manager who would freely offer advice and suggestions that would be beneficial in enhancing property revenues and overall value.
The contractual agreement between the property owner and the property manager will detail the duties, responsibilities and obligations of both parties, but it is really the personal rapport and like-minded ideas between the landlord and manager that are the real foundation of a good working relationship.
Shelter Realty specializes in residential property management, and our proven ability to maximize revenues and enhance property values overall are second to none in the Las Vegas Valley.
We look forward to serving your property management needs. Contact us at: 702-376-7379.