Property Management

Here at BellMan Properties LLC. we believe it is important to understand your options for property management.

A property manager is an individual or entity hired by the property owner to oversee and manage the daily workings of their real estate investments. Property manager's responsibilities include setting and collecting rent, handling maintenance requests, filling vacant units and potentially setting the budget for the property.

Property managers often take care of property that real estate investors either do not live near or do not wish to personally manage. A property manager can be one person or an entire management company, depending on the needs of the owner.

What Do Property Managers Do?

Property Managers turn your real estate in to an investment instead of it becoming a part-time job. The main purpose of hiring a property management company is to protect your real estate investment and passive income. Investors hire property managers to manage their rental properties for a variety of reasons, from wanting a local professional to handle a property, to a desire to take a more hands off approach with their investments.

But what does a property management company do?

Follows Landlord-Tenant Laws and Regulations

As an investor, especially if you own multiple properties in several different states or areas, it can be difficult to keep track of all the different landlord-tenant laws and regulations. The property manager can help avoid potential legal headaches by taking care of these regulations for you. Typically, experts in the areas that they work, property managers are often better equipped to deal with local laws and regulations.

Acts as A Local Presence for Out-Of-Town Owners

The property managers also act as a local presence for out-of-town owners.  A property manager takes care of all the daily details for the investor – along with other things that come up, like maintenance and other operational issues that would be difficult to handle remotely.

Handles Maintenance Requests

The property management company also handles maintenance requests and other in-person upkeep. A landlord that is slow to respond to maintenance issues can cause tenant frustration – which is why it's useful to have a manager readily available to address tenant concerns quickly.

Shows and Leases Available Units

Working with a property manager can also help owners eliminate the potential financial loss of having an empty unit sitting around for an extended period. Rather than trying to market your property to potential tenants, you can rely on the property manager to attract new tenants and potentially renew existing leases.

Tenants may also be uneasy about or unwilling to move into a property without seeing it first – and showing properties may not be an option if the owner lives out of state and can be time consuming for local investors. Working with a property manager allows owners to have someone present to fix problems and show the spaces to potential tenants.

Collects and Deposits Rent

The property managers also collect and deposit rent as a part of their duties for the properties they oversee. Some property managers and property management companies will collect rent using online sites or payment apps to help get money to the property owner quicker.

Property managers may also handle delinquent payments, collections, and evictions. Working with a property manager ensures that these tasks that might be difficult for investors to handle from afar are dealt with efficiently to save owners money and time.