Property Management Blog

As a property owner, you would want to get maximum returns on your rental real estate. With professional property management Chesapeake VA you can avoid the hassles of marketing the property, seeking suitable tenants and also handling the day to day running of the property. Experienced property managers can act as a buffer between you and your renters. His duties include renting out the property to suitable tenants, collecting rents, arranging for the maintenance of the property and also handling eviction of bad tenants. In most cases, licensed property managers work under a broker. The rents, security and cleaning deposits etc are also collected in the name of the broker's trust account in the bank. One cannot misuse funds from this broker account and the money is used only for making payments to the property manager and for purpose of repairs on the property. When you hire a property manager you need to sign a contract with him. The contract has a start and end date and also clearly mentions a clause that specifies who pays the manager when the property is sold during the validity of the contract. There are different kinds of property management companies: commercial and residential being the main ones. Additionally, there are specializations in these and managers may be skilled in handling seasonal rentals, vacation rentals, warehouses or retail spaces etc.