Property management is the legal conduct, custody, administration, and management of personal property and real property owned by an individual or entity. This may include residential, industrial, and vacant land properties. A property manager, who also acts as the legal representative of a trust and who has the responsibility of acting in behalf of the trust’s beneficiaries, is responsible for making decisions regarding the use of such property and for collecting moneys from tenants and owners for services rendered. If the property is rented or leased, property management is responsible for collecting rent, keeping records of all tenants, managing repairs and replacements, as well as collecting rents and other payments from guests.You may want to check out Indianapolis Property Management for more.
Some of the services offered may include inspection and repair of damage to the property, replacing damaged tenants, collecting late or missed payments from tenants, securing rental renewals, providing and arranging new tenants, advertising for rental units and conducting background checks on potential renters. Property management companies perform these services on behalf of individual tenants and landlords. They usually contract with a nationwide network of property management companies that allow them to coordinate and offer property management services to multiple clients. They use a system of channels and contracts to assure the best return on their investments. They also hire a large number of employees, including property managers, appraisers, repair experts, marketing managers, finance officers, public relations managers, land agents, and other employees.
To provide tenants with a comfortable living environment, a property management company maintains several rental properties. Apart from managing rental properties, they also undertake maintenance of residential buildings, such as buildings in rehabilitation, historical homes, single-family residences, condominiums, townhouses, multiple unit buildings, mobile homes, and vacant land. They also undertake rehabilitation and improvement projects for buildings in need of renovation, such as schools, hospitals, shopping malls, office complexes, hotels, government buildings, private housing facilities, and public amenities such as parks and gardens. The main tasks of a property manager include managing tenant accounts, collecting rents, collecting late or missed rent payments from tenants, maintaining property lines, repairing property damage, evicting occupants who violate lease agreements, conducting financial reports and reviewing tenant and landlord documents for compliance purposes.
CONTACT INFO :
Polaris Property Management, LLC
5455 W 86th St Ste 255, Indianapolis, IN 46268
Phone No. : 317-870-3249