Property 1301 t/a Rental Trends

Property managers are responsible for setting the initial rent level, collecting rent from tenants and adjusting the rent. • Setting Rent- the property manager knows how to set the right rent level to attract tenants to your property. They have an understanding of the market where the property is located and have looked at comparable properties in the area. • Collecting Rent- they play the role of the enforcer. They ensure optimal cash flow by setting a date to collect rent each month and strictly enforcing late fees. • Adjusting Rent- the property manager can increase the rent by a fixed percentage each year, according to individual state and/or municipal law. They can also decrease the rent if they deem necessary. Responsible for Tenants - One of the main responsibilities of the property manager is to manage tenants. They are involved in all capacities, from finding the tenants and dealing with complaints to initiating evictions. • Finding Tenants- property managers are responsible for marketing.