What Is Property Management & Do I Need It?

Property Management basically involves the following:

• Collection of  monthly rent
• Monitoring payments and mail  Late Rent Notices if applicable
• Preparation of  monthly financial statements
• Handling all phone calls
• Providing 24 hour emergency maintenance service
• Keeping owner informed of all activities
• Documentation for tax purposes and requirements
• Paying bills on owner’s behalf (with the exception of mortgage)
• Running rental ads in the News Journals
• Offering co-broke opportunities to other real estate companies

If you think that you cannot do all these for your property at your own, you must have to hire a professional property management service!

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