A prevalent misunderstanding concerning Oak Park property managers and real estate agents is that these tasks are more or less one and the same. Although as a matter of fact, a property manager’s role is very different from that of a real estate agent. Even though both professions are tied to the housing market, there are far more differences than similarities. Knowing these dissimilarities can help rental property owners grasp who to call once professional expertise is actually needed.
Key Differences
By definition, a real estate agent is someone who lists and sells properties for their owners. Even though several real estate agents specialize in helping buyers find and purchase investment real estate, the agent’s role is still greatly focused on the sales transaction. The obligation of a real estate agent really depends upon the current housing market. It is normal for real estate agents to find their business (and income) moving up and down as market conditions change. In various cases, real estate agents may help look for tenants for a rental property, but certainly, their involvement with the tenant and the property owner typically stops immediately when the lease is signed.
A property manager, on the flip side, engages in helping property owners manage their rental properties. Conceding that each property manager will present different services, the majority will generally work on behalf of a property owner to manage property maintenance and repair, tenant screenings, collecting rent payments, and so on. Unlike a real estate agent, a property manager is a contractual role in which they are recompensed for their ongoing management services. Property management is furthermore much less likely to be unfavorably affected by a slump in the housing market. In truth, property managers may find their workload increase through market downturns as more property owners look to renting as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the simple differences between a real estate agent and a property manager, there are other things that the best property managers carry out that real estate agents (and even other property managers) merely don’t. For instance, although a real estate agent and most property managers will advertise a rental property to find new tenants, not all of them will surely screen those tenants for prospective red flags. If a tenant has been screened, the right property manager will commence building a rapport with the tenant by improving open communication and plainly explaining the lease documents. An excellent property manager will additionally schedule and perform regular maintenance on a property and deal with emergency repairs and tenant complaints.
Less common but also advantageous services that a few property managers do include helping property owners analyze the local market, set an accurate rental rate, and offer propositions on how to maximize a property’s earning potential in addition to your property’s resale value. They can equally help you seek and compare additional rental properties, some of which may not be on the market yet. These are not customary services among countless property managers; oftentimes, only the best in the business will work heedfully with rental property owners to help you not just manage property but develop an investment business.
The Value of a Great Property Manager
Among the nation’s top property management companies is Real Property Management. This has to do with the fact we extend a full range of services that rental property owners and investors need to attain their financial goals and dreams. Several of our clients see that the value of the services we offer exceeds the cost, specifically, for the reason that our experts will effectively help you set an accurate rental rate and keep costs down by making use of our preferred home services vendors. These are not things that you will be able to discover just anywhere.
To learn more about Real Property Management Advantage’s services, contact us online today!
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