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Property
Manager Job Description
Property Management Job Descriptions PART 2
The
duties and responsibilities that are tagged to a rental property
manager job
description are colourfully complex so it's important that you get the
full version. Find out what are the duties and responsibilities of
a real estate manager in this Part
2 of our Job Description Property Manager Guide.
Do you know
what are the property management job descriptions for finding and
managing tenants? If No, Click here for Part 1 of our Job
Description Property Manager.
Property
Manager Job Description for Property Repairs and Maintenance
Making
sure that the rental property and its outdoor areas are well
maintained will also be your responsibility as a property manager. A
well maintained rental property tends to enjoy lower vacancy rates
and higher rental returns.
Common areas that you have to
worry about include the electrical wiring, plumbing, walls, paint,
flooring, roofing and the surrounding lawn. If the landlord provides
any furniture or appliances, you will also have to maintain and repair
them if they break down due to daily wear and tear.
For larger
rental properties such as a multiplex or entire building, your job
description property manager will also include making sure that the
common areas such
as the corridors, stairways, lifts and void decks are in proper working
condition.
The physical upkeep of a rental property can generally be divided into
2 types - routine maintenance and damage repairs.
Routine
maintenance has to be carried out on a regular basis to ensure the
rental property stays in a good shape. This will include activities
such as lawn mowing, servicing the heating and cooling systems,
inspecting the electrical wiring and plumbing and cleaning the common
areas.
If the property damage is caused by daily wear and tear,
then you will be responsible for the repairs as well. However if the
tenant damages anything on the property due to his own neglect or
abuse, then you will have to make sure he cleans up the mess himself. Click
here to learn your landlord responsibilities for rental repairs.
Property
Management Job Description for Accounting and Property Taxes
You will
find that managing a
rental property is a bit like running a business. Being able to
maximise rental income while slashing property bills can mean the
difference between a profitable rental cash cow and a money sucking
liability.
A property
manager needs to pick up basic accounting skills so that he is able to
prepare income statements for his rental properties on a regular basis.
This income statement works like a report card so that the rental
property owners will have a clear idea of how well their investments
are paying off.
To ensure
accurate and updated figures for this
accounting, the property manager has to be meticulous when it comes to
book keeping. He should have written records of all property
bills
filed away and issue receipts whenever rent is collected from tenants.
A
property manager who is worth his salt also needs to have ready access
to cheap and reliable 3rd party property services so that he
can
slash the rental bills and maximise the returns of his rental
properties.
A rental property manager job description also includes knowing the
local
property tax laws and tackling the
cumbersome task of filling in the tax forms every year.
Since a manager should always have the interests of the property owner
at heart, it is his job to claim the maximum amount of rental property
tax deductions possible so that the owner will be able to
enjoy the biggest savings off his taxes.
Do you want to learn MORE must-know facts
on
being a property manager?
Return from this Rental Property Manager Job Description to
our Property Management
Career
guide
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