Dear Property Manager:
I has been suggested that we contract with a property manager, or property management firm to handle an uptown Charlotte building that we have renovated for commercial use. Can you tell me: what is the role of a property manager, and how are they paid?
Heather and Mike W.
Dear Heather and Mike:
Great question. Essentially a property manager handles the day-to-day needs of your property, minimizing vacancies and maximizing your bottom line -- in fact the property manager does this by filling many roles, the most important of which is that of liaison between the landlord, and the tenant.
Other duties of the property manager include collecting rent, handling maintenance issues, advertising and marketing the property, and screening prospective tenants. The property manager gives the tenants an accessible person to work with, while providing a buffer for those landlords who wish to distance themselves from the day-to-day dealings with, and management of the tenants.
Property managers have the experience and expertise to help the customer optimize their investment.
Property management companies charge landlords a percentage of the gross rent collected each month. Contracts vary from company to company, but can be negotiated to provide both the tenant and landlord the best fit.
Please let us know if you have any other questions, or would like more information about how Kuester may be able to assist you.
Kuester Property Manager