If you’re an apartment or building manager, you know that there are a huge number of responsibilities that are part of your everyday routine. If this is a career path that interests you or if you are interested in buying property and having tenants, our latest blog post will shed some insight onto what some common duties are and what’s involved in the day-to-day of a property manager.
- Rent. Property managers are responsible for setting rent for their tenants and need to keep in mind that the rental price should be attractive to tenants, yet still be in line with what’s consistent with the neighborhood that their property is located in. Managers are also responsible for collecting rent on a monthly basis and also for adjusting the rent (up or down) according to municipal law.
- Tenants. Managing tenants is a key component of any manager’s job. You will be responsible for finding your tenants through advertising online, in the newspaper or through word of mouth. You’ll also need to screen potential tenants to find the best fit for your property and to ensure that they’ll keep your property in good condition and pay rent on time. You will be responsible for handling complaints and emergencies and should have a list of reliable companies (like plumbers, electricians and carpenters) on hand that you can call when you are in need of quick service.
- Maintenance and Repairs. You’ll need to be responsible for the physical upkeep of the property and complete preventative maintenance to keep your property in top condition and ensure tenant safety. You will also need to take care of pre-occupancy cleaning to make sure that the property is ready for new tenants. We personally recommend commercial carpet and floor care since this is typically the highest traffic area in any home and the area where most new tenants are concerned about.
- Knowledge of Landlord/Tenant Law. The best way to protect yourself from any tenant issues is to be very familiar with the law and aware of both your rights and the rights of your tenants. You need to know as much as possible about: screening tenants, handling security deposits, terminating leases, evicting tenants and complying with home safety standards.
A property manager has a lot of responsibly and this role can often be extremely time-consuming. At Canadian Carpet Cleaning & Janitorial Services we have several clients who are landlords and they hire us to take care of all their cleaning needs. It’s one less thing for you to worry about and we’re experts at it so contact us today!