If you are an apartment owner, you have almost certainly heard of property management companies before. Property management companies are a fairly new type of business , which has only recently started offering its services to the general public. Many people still don’t know what these companies are, and what services they offer. So to help our readers understand what a real estate management company is we have thought about preparing this mini-guide residential property management services in Orlando, FL.
Real Estate Management Companies Are Not Real Estate Agencies
Let’s clarify a point on which there is still some confusion among homeowners: a property management company is not a simple real estate agency . Property management companies offer a completely different range of services, much wider than those offered by classic real estate agencies.
What are Real Estate Management Companies
Property management companies are agencies that perform all the tasks of a home owner on your behalf , and are also able to carry out very precise analyzes of the real estate market, tax and tax regulations, and the profitability of your property.
If you have been dealing with real estate agencies so far, you have noticed how generally this type of activity is carried out by people who put your property on the market, get you a tenant or a buyer, and sometimes (but not always) you help in concluding the lease.
All other duties, however, remain your responsibility. In practice, this means that if you decide to rent your apartment every month you will have to:
collect the rent
fill in the receipt for the fee
but it doesn’t stop there! As many homeowners know, it happens that:
- the tenant calls you reporting the most unthinkable breakdowns , and usually demands that you pay for the repairs, even if the routine maintenance of the property is not your responsibility.
- from time to time the property needs extraordinary maintenance interventions , which are usually your responsibility
- at the end of the lease, the new tenant may ask you to paint the apartment , so you will need to contact a house painter
- the tenant suddenly stops paying the rent , and here are really pains.