Successfully running an income property requires different roles and responsibilities. If you’re a landlord managing your own income property in Washington DC, you know this to be true.
You need to manage finances and taxes, coordinate repairs and maintenance, and schedule inspections and lease updates, to name a few tasks. When you’re managing more than one income property, these responsibilities can quickly get overwhelming and take up a lot of your time.
This is where a professional property manager can step in to help you manage some—or all—of these tasks. What exactly is the role and responsibility of a property manager?
Your Property Manager Is Your Partner in Successful Management
Professional property managers have extensive experience managing rental units. As such, they bring a wealth of expertise to help you successfully manage your income property over the long term.
However, a property manager doesn’t just handle the daily responsibilities associated with your unit, but they are also:
- Knowledgeable about local laws and building codes regarding rental units
- Excellent coordinators and communicators
- Detailed record keepers
- Skilled interviewers and negotiators
- Prepared to assist you with managing your budget
Each property manager brings their own specific skillset and capabilities to a property. When enlisting the help of such a professional, these are just a few of the roles you can expect them to fulfill.
Responsibilities of a Property Manager
You can have a property manager take over part or all of the responsibilities associated with running your income property.
For example, a property manager can handle maintenance while you continue to collect rent. For a minimal fee, you can also have your property manager take over 100% of the responsibilities associated with your income property so you can focus your time elsewhere.
An experienced property manager can handle all of the following responsibilities and more for your Washington DC rental property:
- Marketing and showing your unit
- Screening tenants and managing tenant applications
- Preparing and enforcing a lease agreement
- Setting and collecting rent
- Handling property maintenance and hiring professionals as necessary
- Resolving conflicts between tenants
- Conducting inspections
- Ensuring the property remains up-to-code
- Keeping accurate records for your taxes
- Supervising on-site workers
The goal of your property management company should be to help you keep your income property running smoothly so you can maximize your investment. A property manager can save you time, stress, and money by handling your rental property in Washington DC for a relatively small fee.
Are You Ready to Maximize Your Investment?
A property manager in Washington DC can help you maximize your investment in your rental property. When you’re ready to have a property manager handle the roles and responsibilities associated with your income property, contact FAS Management today at (202) 337-5080 to learn more about our property management solutions for DC property owners.
