What is the primary responsibility of a property manager?

The primary responsibility of a property manager is to oversee the operations of a rental property on behalf of the owner. This role involves a wide range of tasks aimed at ensuring the property is well-maintained, the tenants are satisfied, and the owner's investment is profitable. Property managers are tasked with activities such as marketing the property, screening and selecting tenants, managing leases, collecting rent, handling maintenance and repairs, and ensuring compliance with local and federal regulations.

This comprehensive management is crucial for maximizing the property’s value and ensuring a positive return on investment for the owner. The property manager serves as the owner’s representative, balancing the needs of the tenants with the financial goals of the property owner.

While other responsibilities mentioned, like developing new projects or evaluating property values, are important aspects of the real estate industry, they fall outside the typical scope of duties for a property manager, who focuses primarily on the day-to-day operations and management of existing rental properties.