An ordinary misconception about Saint Louis property managers and real estate agents is that these occupations are more or less the same. But in reality, a property manager’s duty is not the same as that of a real estate agent. While both professions are closely linked to the housing market, there are far more differences than similarities. Knowing these differences can aid rental property owners to learn who to get in touch with when professional expertise is necessary.
Key Differences
A real estate agent is a person who lists and sells properties for their owners, by definition. While a couple of real estate agents specialize in aiding buyers to find and purchase investment real estate, the agent’s role is still centered on the sales transaction. The role of a real estate agent is dependent on the current housing market. As market conditions fluctuate, it is usual for real estate agents to find their business (and income) going up and down. In some cases, real estate agents may help provide tenants for a rental property, but their participation with the tenant and the property owner commonly ends when the lease is signed.
Meanwhile, a property manager deals with helping property owners manage their rental properties. There are a lot of services a property manager can offer, but the bulk would be working on behalf of a property owner to oversee property maintenance and repair, tenant screenings, collecting rent payments, etc. Unlike a real estate agent, a property manager is a contractual role wherein they get money for their ongoing management services. Property management is also not likely going to be greatly affected by a fall in the housing market. In fact, property managers may see their workload go up during market downturns as more property owners look to renting as another option to selling at a loss.
What Property Managers Do (And Real Estate Agents Don’t)
Aside from the key differences between a real estate agent and a property manager, there are more tasks top-rated property managers do that real estate agent, and even other property managers, usually don’t. Although real estate agents and the bulk of property managers will advertise rental property in order to get new tenants, not all of them will completely screen those tenants for potential red flags. After a tenant has been screened, a good property manager will start building rapport with the tenant by having open communication and expounding the lease documents clearly. To add, a good property manager will schedule and perform regular maintenance on a property and handle emergency repairs and tenant complaints.
Helping property owners analyze the local market, setting an accurate rental rate, and offering suggestions on how to maximize a property’s earning potential, as well as your property’s resale value, are some of the less common but important services that some property managers give. Further, they can help you find and compare additional rental properties as well as offer you properties that are not yet on the market. These are not ordinary services among all property managers. Usually, only the top in the business will closely work with rental property owners to guide you not just to manage property but build an investment business.
The Value of a Great Property Manager
Real Property Management is one of the country’s top property management companies. This is because we can provide a full range of services that rental property owners and investors need to reach their financial goals and dreams. Our experts will assist you in setting an accurate rental rate and keep costs down by using our preferred home services vendors. This is why a lot of our clients will tell you that the value of our services far exceeds the cost. And these are great offers that you can’t find just anywhere else.
To learn more about Real Property Management Endeavor’s services, contact us online today!
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