Top Things Most Property Managers Will Do
- Be responsible to maintain and apply a thorough knowledge of the Landlord Tenant Act of Washington, as well as any related local codes. Deals with all government authorities on the owner's behalf.
- Market/advertise the unit, screen prospective tenants, and manage the day-to-day operations of the property, per signed contract with client.
- Monitor and enforce the provisions of the lease or rental agreement, prepare and serve appropriate notices, and represent the owner in eviction actions.
- Make rental collections, field tenant complaints, and coordinate necessary repairs. Coordinate and attend Section 8 inspections.
- Deal with government officials on the owner's behalf, such as tenant code violations.
- Submit statements and send check (or deposit net rental incomes into owner's bank account) on a monthly basis.
- In short, give the owner client peace of mind to go on vacations or live out of state.
- Discriminate - violating local, state and federal housing laws. This provides protection for clients from expensive audits and lawsuits.
- Pay the owner's mortgage debt, taxes, insurance or any licenses.
- Make decisions on major projects without owner approval.
- Babysit contractors or service providers such as landscapers.
- Perform mitigation, such as placing a temporary tarp on a leaking roof.
- Make investment advice, such as mortgage financing, insurance outlets, remodeling options, etc.
- Lobby or join advocacy groups and/or neighborhood watches for you.
Happy Investing!
