The house manager is designated by the owner to supervise the building. Its traditional function is to create and increase the value on the cost side of a company’s equilibrium through effective management. Today, house managers are often given additional responsibility for the lease. These administrators can create additional value by increasing building income.
The typical duties of a house manager include:
Collect rental deposits, conduct retail inspections of tenants, supervise maintenance, coordinate security measures, schedule a marketing program, coordinate leasing activities, maintain the tenant and public relations, control assets, manage personnel, monitor all the requirements of lease of tenant houses, question property tax assessments, monitor tenant improvements, prepare periodic reports for management, develop working relationships with a proprietary owner
For a small investor, buying their first investment property is one of the most important decisions they will make, and they are often made only after a long period of research. As a rule, they are nervous about the purchase and the quality of the tenants who will live in a house, and are looking for tranquility, as well as a fair return on their investment. Hiring a house manager should dispel these fears and leave the daily management of the house to a professional. Most investors with larger portfolios have established relationships with their house managers, and believe that this is an important part of their investment success.
The role of a house manager requires a unique combination of communication skills, technical knowledge of laws and property management, and the ability to memorize details of multiple houses and a bit of human psychology.
The домоуправител usually makes a transaction when the owner concludes a contract with him to find a suitable tenant for his house. This is the beginning of work to establish relationships, and any sign of lack of knowledge or demonstration of any unprofessional behavior by the house manager may lead to the fact that the owner will not have confidence that their house will be in good hands. Abbreviations, such as inadequate selection of tenants, inability to sign contracts before starting work or lack of knowledge about agency management systems, will cause alarm calls.
Badly maintained houses will soon be inconvenient for a good tenant and, if no action is taken to remedy the situation, they will move on, the owner will lose their income and the reputation of the agency could be damaged.
The relationship between the house manager and his client, the owner of the house, with the proper care and administration, can be a long-term commercial proposal of mutual benefit, especially if the owner adds additional properties to the portfolio. With the knowledge of the industry, good interpersonal skills and qualities such as patience and honesty, the right person can make a solid career in real estate management.