Rent Collection

Many people that invest in properties depend on the rent they receive from those properties for part of their income but most property owners do not collect the rent themselves as instead, they usually hire a property manager. There are many professional property managers across the country, like which happens to be based in Tulsa and these property mangers’ will usually specialize in properties in their particular area. The reason for this is because one of the jobs of a property manager is to set the rate of rent paid for that property and that, in order to be rented, needs to be in line with similar properties in that same area. The property manager must therefore know many of the different rents already paid in the area so as not to charge too cheap or so expensive that no wants to rent it.

It is also the property managers that find tenants both by word of mouth or advertising, interview them and accept them as tenants on behalf of the owners. The manager will then be responsible for collection of that rent, charging late payment fees if appropriate. The property manager will usually subtract their fee plus any payments that were needed for routine maintenance of the building and then pass on the rest to the owner as income on their investment. The property manager actually takes care of everything in regards to the property; deals with tenants complaints, oversees routine maintenance and fixes any maintenance problems, or at least sees that they are fixed expeditiously.

When first renting a property, the property manager will ensure that the building is clean to a professional standard and expects any tenants to maintain it to that same high standard. To this end property managers will inspect properties on change of tenants and they will inspect for both damages and for cleanliness. The manager will charge the outgoing tenant for any damages and if the building is not as clean as it was when the tenant first rented it, will also charge them for professional cleaners to come in and clean it prior to the new tenant moving in.

It is therefore the property manager that ensures that the property owner gets a good return on their investment, not just in a regular income from the rent but also by ensuring that the property hopefully continues to gain in value and not decrease due to deterioration, lack of maintenance or damage by tenants. Of course it is still best to choose your property wisely but once you have a professional property manager looking after any property you buy, your investment should be safe and you can look forward to a continuous income plus an increased value on the property. It are for these reasons that many people now invest in properties rather than ‘gambling’ on the stock markets. There are other types of property investment, ones where you do not rent out the property but they usually only rely on the property values increasing and do not provide any kind of regular income in the mean time.