Alex Smith - Friday, January 18, 2019
What’s up, everybody. Alex Smith here from gkhouses, Chattanooga. This is another installment of Questions Owners Ask. Today’s question is, “What the heck do property managers even do?”
So, his is a really good question and the short answer is basically all the stuff that you don’t wanna do or that you might be tired of doing if maybe, if you’re self-managing your home right now.
Then, we’ll kida just walk through this piece by piece as the life cycle of the house goes. So, what I mean is while the house is vacant, you’re trying to find a tenant.
What we’ll do or what a property manager should do really well is marketing.
So, putting the house where it’s gonna get the maximum amount of leads, managing those leads, driving them to go see the house, driving then to fill out applications.
And that gets into another thing with applications, is finding a good tenant that is vetted properly and is gonna pay you on time and what they’re supposed to pay.
A lot of times what happens with owners that self-manage is sometimes they fall victim to stories the tenant tells, things like that.
A property manager should not fall into that same trap necessarily. And then say we lease the house, the next step of that is managing the tenant.
And, if the tenant for some reason pays late which sometimes does happen, we’ll handle all the communication that comes from collecting the rent from the tenant every month, things of that nature.
Another thing your property manager should do is accounting.
Then, a good precise exact accounting of what money is coming in, what it’s being spent on, say it’s being spent on maintenance, things like that and then, obviously an accounting of what rent should go to you every month.
And then the last piece is managing a maintenance. So, if you’ve managed a rehab or if you’ve managed vendors of any kind, you probably know how much of a pain this can be sometimes.
We’re here for peace of mind. So, we manage, we have some in-house vendors, gk employees that do maintenance for us, we handle third-party maintenance. So, we’ll handle all that for you.
I know sometimes it can get messy, but that’s what we’re here for and that’s what a property manager should do, is those four, pretty much those four things.
Thanks, everybody. I hope this was helpful. This has been another edition of Questions Owners Ask. Thanks.