Tenant Acquisition: Property managers market the property, screen potential tenants, and facilitate the leasing process, including drafting lease agreements and handling necessary paperwork.
Rent Collection: They ensure timely and consistent rent payments, following up on any late payments and initiating appropriate actions if necessary.
Property Maintenance: Regular inspections and maintenance are conducted to uphold the property's condition. Property managers coordinate repairs promptly and efficiently.
Lease Enforcement: Property managers enforce lease agreements, handling issues such as lease violations, property damage, or tenant disputes.
Eviction Processes: In cases of non-compliance with lease agreements, property managers initiate and oversee eviction processes under local laws.
Financial Reporting: Property managers provide owners with regular financial reports detailing income, expenses, and any necessary financial information related to the property.
Legal Compliance: Keeping abreast of local landlord-tenant laws and ensuring that the property and management practices comply with all relevant regulations.