What is Property Management?

Property Management is not just about collecting the rents. There are so many things that a Full Service Management Company does besides collecting the rents. Here are some of the things we, in the world of property management, do (but belive me when I type, we do a LOT more…): Rent Collection Provide/ Supervise Maintenance Payment of Bills/ Mortgages Monthly Detailed Computerized Statements Creative Advertising/ Marketing of Vacancies Thorough Verification/ Credit Screening Assist/ Supervise Resident Managers Retain Legal Services (at owner’s cost) Advise of Competitive Rental/ Lease Rates Emergency Availability — 7 days a week, and 24 hours a day Take Care of Tenant Complaints Annual Walk Through Property Management is not an easy job. It takes a lot of attention to detail, patience, continued education, keeping up with the laws and ordinances both locally, state wide and nationally. Keeping up with Technology is also very important. Property Management Companies should hire employees and not independent contractors, and the owner of the Property Management company should be always thinking ahead, insist on all employees taking Fair Housing Training, workshops, getting designations in property management, keeping up with technology and laws individually as well as company wide. Everyone should find their Niche. Mine has been property management for 27 years starting out as a receptionist and doing anything and everything to learn the business and 22 years ago purchasing the company from the owners at the time. I have never been bored and each day is a “Never a dull moment day.” Signing off for now with my first official blog… Melissa Prandi, MPMPhoto of Melissa Prandi PRANDI Property Management, Inc. CRMC Author of “The Unofficial Guide to Managing Rental Property” email: melissa@prandiprop.com 415 482-9988 ext. 203, www.prandiprop.com/