Thursday, 14 July 2011

Property Management

Apartment property management is considered the managing of a multi-unit rental property and the residents or tenants that occupy it. These properties can range from small multi-unit buildings to very large complexes housing hundred of residents. Residential property management is a more industry used term and could include the managing of single-family homes as well as apartment complexes.
As you can imagine the managing of these types of properties can become quite complex and time consuming in comparison to managing a single-family house. Many owners of apartment buildings do not have the time, expertise or the desire to manage such on their own. In these cases, it is recommended to hire a qualified property management company that specializes in apartment property management.
Responsibilities of an Apartment Property Manager
Here are just a few apartment property management responsibilities that could be required of anyone managing an apartment building:
  • Rent collection
  • Showing available units to prospective tenants
  • Credit and background checks
  • Initiating lease contracts
  • Monitoring and processing lease renewals
  • Enforcing the rules of a lease contract
  • Dealing with violators of a lease contract
  • Handling an eviction from start to finish
  • Mediator when feuds between tenants occur
  • Utilities
  • Grounds keeping
  • Security and safety of premise
  • All types of maintenance issues or repairs you could think of
  • Knowledge of landlord/tenant law
  • Knowledge of fair housing laws

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