If you are interested in a career as a property manager, read this article to discover some of your responsibilities. You’ll learn about legal tenant screening and how to set rental prices. This article also covers record keeping. If you’re ready to take your property management career to the next level, read on! There are many more things you can do to succeed as a property manager, so don’t delay! Visit our office to buy the best lands for sale in Dubai.
Managing tenants’ requests for maintenance:
If you manage several rental properties, managing tenants’ requests for maintenance is a must. Whether its routine apartment maintenance or emergency repairs, you must quickly respond to maintenance requests from tenants. When tenants contact you for maintenance, you should have a standard form or online process for maintenance requests. The more detailed the request, the quicker you can resolve the issue. When possible, handle maintenance requests during normal business hours.
Legal tenant screening:
In addition to collecting personally identifying information from prospective tenants, legal tenant screening is part of a property manager’s responsibilities. The Fair Housing Act prohibits discrimination in housing based on race, religion, national origin, sex, familial status, and disability. A tenant screening report includes a landlord’s responsibility to verify the applicant’s identity and comply with the Red Flags Rule.
Setting rental price:
As a property manager, your responsibilities include setting the rent for each property. You need to know the market rent prices and evaluate the property’s features. You must aim to maximize the investment of the landlord by renting the property at a reasonable price. To do so, you must conduct annual surveys to see what comparable properties in the area are renting for. By doing so, you will ensure that your property is always occupied.
Record keeping:
Maintaining accurate records of tenants is an essential aspect of property management. Landlords need to know if tenants have always paid their rent on time or if they have ever been late on it. Record keeping is important for many reasons, not just for tax purposes. Record keeping also helps in the event of legal issues, such as loan applications. If you have a large number of tenants, record keeping will be essential.