The Property Manager

There are people which turn their attention from actively trying to locate, sale, or help clients purchase real estate who opted for the management of other real estate property/ properties. This can be and has been a viable option for many in the real estate industry. The property management sometime requires one to be more disciplined.

You may recall that in California any person who acts in another’s behalf for a fee must have or word under a real estate broker. It also should be clear that all licensed agents employed by the broker weather direct employees or independent contractor employee act on behalf of their brokers. These employees are never independent of their brokers.

The property manager broker’s primary objective is to:

• Fill vacancies with suitable tenants
• Collect rents
• Incur and pay expenses
• Account to the property’s landlord

An agent under a broker working in the field of property management has all these objectives but they also must report to their broker

The level of care a property management broker owes their landlords is the same level of care and expertise that a broker who list properties or helps their clients find a property owes their clients. As a real estate manager, the broker is an agent acting in the capacity of a trustee on their landlord’s (clients) behalf and all agents under the broker are acting in the broker’s behalf. Because, the DRE (Department of Real Estate) can and has revoked broker’s licenses for showing neglect or incompetence’s in the performance of their duties to enter this field requires extensive time working in the field or supervision by someone who has.

The task of these individual includes but are not limited to:

• Ability to obtain and maintain a real estate license
• On-the-job-training (OJT) as an agent
• Experience as a landlord
• Practical experience in the business management field or
• Similar management activities

Most property owners seek to hire capable brokers to manage their properties. They do so by measuring the broker’s management skills. Therefore, many owners seek those brokers with experience in the property management field with well-earned credentials and a well-managed, well trained, management staff.

The staff must be well versed and trained in:

• handling and reporting the individual properties trust account activities
• knowledge of the procedures and programs used to record and track each property they manage
• the professional staff to preform the office and field duties needed to respond appropriately to both the landlords and tenants needs.

Note: Images on this blog site are from a free source or taken by the author. No image or group of photos is intended to represent the people the author serves. The author does not care about Race (that is a politically correct term that he does not like because we are all of the same Race, the Human Race. He prefers the term ethnicity, color, religion, sex, gender, marital status, disability, genetic information, national origin, source of income, Veteran or military status, ancestry, citizenship, primary language or immigration status.) He is a service provider for all people. We will all rise together when we band together and help one another. Joseph Erwin is a Real Estate Broker, DRE # O2131799, and a CA general contractor # B 696662. He’s a member of the CRMLS and The East Valley Association of Realtors located in the Inland Empire region of Southern California. This writing is not to be used as legal counsel the author is not a lawyer and does not give legal advice other than consult a lawyer before acting.