What Are the Responsibilities of Property Managers?
When it comes to excellence, it seems as if the world is out to distract and deter you from your goals. Staying focused on the most important matters for long periods is crucial to becoming and staying excellent.
Stephen Covey is attributed with coining the phrase, "The main thing is keeping the main thing, the main thing!" While he was the first to put it down to paper, the sentiment has been around for decades, if not centuries. Organizations and individuals that learn to harness the power of this concept reap great rewards.
Property Management is the Main Thing
If property management is the main thing that needs to be kept at the forefront, what exactly is it? According to ProSchools, property management is this.
"Real estate property management is an organized profession dealing primarily with the management of buildings. Property management attempts to balance the needs of a property owner with those of a tenant. The basic goal of a professional property manager is to return to the property owner in the long term, the highest possible net return on their equity.
This results in a dual responsibility of:
Maximizing the income by renting or leasing space at a rate that will cover operating and fixed expenses (e.g., property taxes, property insurance, and mortgage indebtedness) and providing a profit.
Protecting the condition of the real estate to preserve the owner's investment.
The goal of a tenant is to rent or lease space at a rental rate that is affordable, or that will allow them to utilize the space at a profit.”
How Does Centurion Keep the Main Thing the Main Thing?
At Centurion, we pride ourselves on our commitment to property management. Our dedication to providing superior service and top-of-the-line experiences for tenants and owners alike is our "Main Thing." There is nothing else we strive to do.
By breaking down the definition given, you can see the key elements that lead to great property management.
Real estate property management is an organized profession dealing primarily with the management of buildings.
We are dedicated to the proper management of your real estate rental properties. We do this through preventative maintenance measures that remove the need to pay for expensive, preventable repairs. When there is maintenance that needs to be done, it is done with the utmost care and pride. If major repairs are necessary, the process is thoroughly communicated to the client and is performed by trained professionals. This makes sure that the building themselves stay as pristine as possible, aging gracefully.
Property management attempts to balance the needs of a property owner with those of a tenant.
We understand that the needs of the tenant and the needs of the client are intertwined. Making sure the tenant is satisfied and wants to continue renting is in the best interest of the owner. Having long-term renters is always the best strategy in the long run. We work with tenants so that they are content and work to make sure owners are getting the return they are looking for. This is a balancing act we are proud to do with excellence.
The basic goal of a professional property manager is to return to the property owner in the long term, the highest possible net return on their equity.
This is done through a combination of customer service, maintenance work, and reducing vacancies to a minimum. Customer service increases tenant retention. Proper maintenance work increases the property's longevity and makes it more attractive to tenants. Reducing vacancies adds to the bottom line, creating a more profitable property.
Maximizing the income by renting or leasing space at a rate that will cover operating and fixed expenses (e.g., property taxes, property insurance, and mortgage indebtedness) and providing a profit.
We are always increasing our knowledge base through ongoing education programs. This allows us to be on the lookout for ways to reduce costs while increasing revenue to deliver the most amount of profit possible while maintaining great tenant relationships.
Protecting the condition of the real estate to preserve the owner's investment.
Preserving the condition of the real estate is a priority. We treat the tenants with respect and value them so that they treat the property with respect and value living there. Proactive maintenance measures and vigilance on behalf of our maintenance crews also help make this a reality.
Your Property is the Main Thing
At Centurion Property Management, maximizing your rental property in every way is what we keep at the forefront of our thoughts and actions. When it comes to keeping the main thing the main thing, Centurion has your property and its potential covered.
Reach out today to see how Centurion can make you and your property part of it's pursuit of property management excellence.
