A general false impression regarding Pasadena property managers and real estate agents is that these lines of work are more or less comparable. But really, in actuality, a property manager’s role is very different from that of a real estate agent. Conceding that both professions are practically tied to the housing market, there are far more differences than similarities. Comprehending these distinctions can help rental property owners know clearly who to call in case professional expertise is called for.
By definition, a real estate agent is someone who lists and sells properties for their owners. Conceding that quite a lot of real estate agents specialize in helping buyers find and purchase investment real estate, the agent’s role is still so much focused on the sales transaction. The task of a real estate agent banks upon the latest housing market. It is normal for real estate agents to find their business (and income) moving up and down as market conditions change. In particular cases, real estate agents may help seek tenants for a rental property, but definitely, their involvement with the tenant and the property owner typically comes to an end if the lease is signed.
A property manager, on the flip side, dwells on helping property owners manage their rental properties. Although each property manager will grant different services, the majority will commonly work on behalf of a property owner to monitor 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 rewarded for their ongoing management services. Property management is likewise much less likely to be negatively affected by a slump in the housing market. Indeed, property managers may notice their workload increase at the moment of market downturns as more property owners turn to rent as an alternative to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Beyond the essential differences between a real estate agent and a property manager, there are other things that high-earning property managers work on that real estate agents (and even other property managers) don’t. For example, through a real estate agent and most property managers will advertise a rental property to find new tenants, not all of them will reliably screen those tenants for plausible red flags. As soon as a tenant has been screened, a really good property manager will get on developing rapport with the tenant by encouraging open communication and openly and clearly explaining the lease documents. The right property manager will furthermore schedule and perform regular maintenance on a property and manage emergency repairs and tenant complaints.
Less common, but nevertheless, useful services that several property managers offer to their clients include helping property owners analyze the local market, set an accurate rental rate, and offer advice on how to maximize a property’s earning potential together with your property’s resale value. They can additionally help you go in search of and compare additional rental properties, some of which might not even be on the market yet. These are out-of-the-norm services among lots of property managers; generally, only the best in the business will work seriously with rental property owners to support you in not just managing property but growing an investment business.
The Value of a Great Property Manager
Among the nation’s top property management companies is Real Property Management. This is related to the fact that we render a full range of services that rental property owners and investors should have to put together their financial goals and dreams. Some of our clients notice that the value of the services we offer greatly exceeds the cost, primarily, due to the fact that our experts will effectively help you set the right rental rate and keep costs down by utilizing our preferred home services vendors. These are not things that you will be able to obtain just about anywhere.
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.