The allure of making money from investment realty sounds great in reading. Once you get into the details you begin to realize it’s a whole lot of work! Add distance between you and the rental and now there’s a slew of challenges.
You worked with a real estate agent in getting the property. Now, the residential property manager steps in to make your life a lot easier.
What is the difference in tasks between these two roles? Keep reading, we get into the finer details of what each does. And, what a property manager and realty agent bring your foray with real estate income.
The Role of Your Real Estate Agent
The primary role of a realty agent is facilitating property sales. The individual tasks they take varies with expertise and commitment.
A real estate agent may do one (or all) of these activities:
- Researches the current market, trends, and strategies
- Lists and supports property listings, showings, and promotions
- Handles inbound and outbound efforts with leads
The real estate agent’s task is complete when the property sells. This means they’re a transactional investment, earning a commission on the sale.
The Role of Your Residential Property Manager
A property manager undertakes the day-to-day operations of a rental. You remain the landlord but tenants report to the company, instead.
The tasks handled by a manager can include:
- Finding new tenants or retaining them
- Dealing with the troublesome tenants
- Satisfying tenant needs such as fixing items
- Handling transactions, paperwork, and taxes
There is overlap, too, in which managers may also act as realty agents. This means you can work with them during the home buying or selling. Plus, retain their services for the maintenance so you’re mainly hands-off.
As the Landlord: Which Offers More Value?
The answer to this question depends on your property goals:
- Getting out or doing a flip
- Holding for the long-term
The real estate agent is the obvious choice if you intend to sell. They have your best interest in prettying-up the property. And, getting it sold at a high price without it lingering on the market.
The property manager looks for ways to align with your long-term goals. Their success comes from your success. If buying & holding, consider property management companies with your best interests in mind.
Also, consider the value in scaling.
Each time you buy and sell a home you’re looking at realty agent commissions. You’ll have big wins with each sale but who knows the downtime in-between. Or, whether you can keep up with the drive as you age.
Working with a property manager lets you focus on one thing: obtaining more property. That’s the fun part of property investing, right?
Remove the Headaches from Home Ownership
You know that time is money as a property investor. The more time you have fiding, renting, and/or selling properties the better for your bottom line. So, consider working with a residential property manager.
Let us handle day-to-day operations while you sit back, relax, and collect the money. Be sure to learn about our services and how we can help your realty investing portfolio grow.