The duties of a residential property manager are simple to understand, but to actually provide the services they do is another story entirely. We are going to go over some of the basic duties that managers of residential properties provide. Additionally, we are going to look at why TFG Asset Management is the company you should hire to manage all your real estate investments. But first, let’s list the basic duties they would be handling.
Duties of Residential Property Managers
Here is a short list of just some of the different duties residential property managers take care of for investors on a daily, weekly, and monthly basis.
- Leases – Preparing and having tenants sign a lease is one of the major duties of any property management firm. This includes coming up with a lease that is legal and binding and making sure the tenants understand and sign it.
- Rent – Collecting rent on a monthly (or yearly) basis is another duty of a residential property manager. Understanding local laws and customs is crucial for any real estate investor to see success in this region of the world.
- Property – Additionally, a residential property manager will take care of the actual property. This includes the exterior of the buildings and the grounds as well as the inside of the homes or apartment buildings.
- Problems – Whether it’s a tenant playing the music too loud every night or another that never has their rent payment on time, a property manager is going to take care of any problems that pop up.
- Prevention – Another thing that a good property manager will do is work toward preventing problems before they happen. This isn’t always possible, but when it does happen, it can make everything run more smoothly.
- The Big Picture – We could list out a lot of other single duties that residential property management companies handle, but one of the biggest things they do is step back and look at the big picture to make sure all the separate parts are working together correctly.
As you can see from the list above, there’s a lot of work that goes into managing a residential property or several of them. Next, we are going to take a look at a company that can handle all the day to day details involved with leasing residential properties.
Hiring a Property Management Firm
When hiring a property management firm, it’s important to find a company with a proven history of providing results – i.e. improving the bottom line and increasing profits. If you’re talking about residential property managers in Dubai, TFG Asset Management if the first business that comes to mind for many.
While you may be able to handle all the day to day duties of running your investment properties on your own, this is not recommended for a lot of reasons. For one thing, you are not going to be able to replicate the practical experience of a company like TFG Asset Management because they have been in business for years. Give them a call today to see if they can help.