What Your Property Management Company Should Do For You

What Your Property Management Company Should Do For You

Real estate ownership is a great investment that provides excellent returns. Believe it or not, though, many property owners work way too hard! Ownership is great, but it also comes with a lot of responsibility and accountability. Think about it: late night calls, unexpected repairs, planning maintenance and renovations, collecting payments, and dealing with regulatory/legal issues. 

If you’ve decided it’s time for your money to start working for you, then hiring a property manager is the right place to start. 

Here are a few things to look for in a property management company:

Statement of Services Provided

Your contract with a property management company should include specifics such as the following:


  • Marketing Plan: Optimizing occupancy and revenue.
  • Policies and Procedures: Tenant screening, move-in/move-out policies, collections, inspections and maintenance, staffing.
  • Reporting of Revenue and Cash Flow: Financial reporting of revenue, expenses, cash position.
  • Disbursement to Owner: Timing of disbursements of profit.


Detailed descriptions of the services included for agreed-upon fees.


  • Standard Reporting: Timing and frequency of status reports.
  • Urgent Matters: Communication channel(s) for reporting of unexpected and urgent conditions.

Tenant Relations

  • Regular Communication: Due dates, tenant policies, contact information, emergency reporting.
  • Urgent Communication: Email, text, social media.
  • Issue Resolution: Standard contacts, escalation to management.


  • Management and Financial System(s): Software used for management and tracking of occupancy, expense disbursements, electronic payments, and access to reports.
  • Scheduling: Employees, maintenance, and repair.
  • Website and Social Media: Internet presence for your property, social media activity, comments and third-party ratings.

Keeping up with all the various aspects required for properly managing a property is complicated. Organization and the management of realistic expectations between an owner and property management company are critical to establishing and maintaining a productive relationship that meets the goals and expectations of each.

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