Ever ask yourself, what is a property manager, or what does a property manager do?

A Property Manager or a Property Management Company is responsible for taking  charge of operating a rental property, or manage an HOA (Home Owners Association), when the property owner contracts with them to do so. Typical this includes finding and evicting tenants and generally dealing with day-to-day tenant issues, home repairs, home improvements, general clean up, snow removal and overall management of a property.  A property manager may service home owners associations, commercial and residential properties.

These arrangements typically require the property manager to collect rents and pay necessary expenses and provide periodic reports to the property owner. A property manager may arrange for a wide variety of services to be performed, as requested by the owner of the property, for a fee.

Property management services may also include commercial rental properties or vacation rentals. The property manager has a primary responsibility to the property owner and a secondary responsibility to the tenant.

The relationships the property manager has with the rental property owner and with the tenant are crucial in forming the expectations of both parities to the lease since both parties will seek and expect certain rights and benefits. The property owners expectations from the Property Manager are to carry out the owners instructions, control costs and maximize revenue to maintain a stabilized cash flow as a return on investment. A property manager will exercise control over the property to safeguard the capital investment, provide a duty of care through proper maintenance of the building, to be professional and well informed and enhance the value of the property by making improvements that will increase its market value, retain and enhance pride of ownership.

The tenants expectations from Property Manager are to provide the "quiet enjoyment" assurance of the use and enjoyment of the premises for the intended purposes.  They seek a comfortable living environment which is properly heated, cooled and ventilated with as many amenities as possible compatible with the rental level.