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Property Management Services at Happy Home Real Estate
Property management involves overseeing and handling various aspects of real estate on behalf of property owners. The specific responsibilities can vary depending on the type of property (residential, commercial, industrial) and the terms outlined in the property management agreement. Here are some common responsibilities associated with property management:
1. Property Valuation
- Know the actual market work of your property before selling or buying to avoid unfair property value.
Tenant Relations:
- Advertising and marketing available rental units.
- Screening and selecting tenants.
- Drafting and enforcing lease agreements.
3. Rent Collection:
- Setting and adjusting rental rates.
- Collecting rent payments.
- Enforcing late payment policies.
- Initiating eviction proceedings, if necessary.
4. Conduct Property Maintenance and Repairs:
- Coordinating and overseeing repairs and maintenance.
- Regularly inspecting the property for safety and maintenance issues.
5. Financial Management:
- Budgeting and financial planning for the property.
- Keeping accurate and organized financial records
6. Legal Compliance:
- Staying informed about local, state, and federal housing laws.
- Ensuring the property complies with building codes and safety regulations.
7. Risk Management:
- Obtaining and maintaining appropriate insurance coverage.
- Implementing security measures to protect the property and its residents.
8. Lease Administration:
- Tenant screening and approval
- Manage tenant complaints and issues
- Handling lease renewals and negotiations.
9. Marketing and Advertising:
- • Developing and implementing marketing strategies to attract tenants. • Showcasing the property to potential tenants. • Utilizing online platforms and advertising channels effectively
10. Record Keeping
- Maintaining organized records of property-related transactions.
- Documenting communication with tenants and property owners.
11. Communication
- Keeping open lines of communication with property owners.
- Updating tenants on important information and policy changes.
12. Reports
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- These responsibilities may be handled by property managers, property management companies, or landlords, depending on the arrangement and agreement in place.
