The Essential Roles of Real Estate Managers

​Real estate property managers oversee properties for clients, including investors. Their duties vary but often include marketing and financial tasks.

Marketing tasks accomplish several goals, such as attracting renters and buyers. Property managers develop marketing initiatives, advertising campaigns, and promotional activities. Additionally, they collaborate with property owners to establish appropriate rental rates. Financial management responsibilities include preparing financial statements for property owners and developing annual budgets.

Property managers also carry out risk management and administrative duties. Since real estate transactions accrue documentation, managers must record each transaction. Moreover, federal, state, and local governments maintain certain jurisdiction over real estate activities. Therefore, property managers must meet their reporting requirements.

In their administrative roles, real estate property managers perform the filing and recording functions of property management. The administrative duties allow real estate professionals to meet their risk management obligations. For example, properly recording interactions with tenants helps managers mitigate possible liability claims.

Ariel Soudry

Shop