Protecting Your Rental: A Property Manager’s Essential Duties

Question

What is a property manager’s role?

Answer

When you own a rental property, a property manager acts as your on-site representative, handling day-to-day operations and safeguarding your investment. From screening tenants to overseeing maintenance, they bridge the gap between owner and renter—ensuring smooth workflow and legal compliance.

Core Responsibilities
A professional property manager typically provides:

Tenant Screening: Verify credit scores, income (usually 2–3× monthly rent), rental history and background checks to choose reliable occupants.
Lease Administration: Draft, execute and renew leases that adhere to federal, state and local laws, including fair housing regulations.
Rent Collection & Accounting: Collect monthly rent (often via online portals), track expenses and issue periodic financial reports detailing income, repairs and fees.
Maintenance & Repairs: Coordinate routine inspections (quarterly or bi-annual), schedule contractors, and handle emergency calls—minimizing downtime and preventing small issues from becoming costly.
Property Inspections: Conduct move-in/move-out walkthroughs with checklists and photographs to document condition and protect security deposits.
Law & Compliance: Stay current on landlord-tenant laws, eviction processes and safety codes; initiate legal action if tenants breach lease terms.
Vendor Management: Negotiate service contracts for landscaping, pest control and utilities to secure competitive rates and quality service.

Many managers charge a monthly fee of 8–12% of collected rent plus leasing fees (e.g., one month’s rent) for new tenants. While these costs vary by market and service level, the right management partner can boost occupancy rates and net returns.

By delegating day-to-day tasks, you free up time and reduce stress—while ensuring your property performs at its best. However, it’s advisable to consult a licensed attorney or experienced property management professional to tailor services to your local regulations and investment goals.