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How Property Managers Can Maximize Your Rental Property

Posted by luxurycarewp on September 23, 2020
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You might have heard about property management and didn’t think much about it since the term seems self-explanatory. Property management means managing property — easy, right? But have you ever wondered what goes into the job? Property managers take on multiple responsibilities, depending on the kind of property and its size. Keep reading to get the full rundown on property management, and how the pros can help you manage your valuable real estate.

What is property management?

What is property management

Property management is when a third party takes on the responsibility of managing a homeowner or property investor’s residence and its occupants. Property managers are hired by property owners to maintain the daily operations of their real estate assets, which includes overseeing property upkeep and repairs, tenant associations, rent collection, and more.

Property management covers all aspects of rental homes. If a property is vacant, it is the property manager’s responsibility to find a responsible tenant as quickly as possible. Property management isn’t just concerned about keeping homes neat and tidy — property managers want to ensure that owners get the most out of their investments.

What does a property manager do?

what property management do

Property managers are trained professionals who specialize in making sure that a rental home is maintained according to specific instructions given by the owner. Whether it’s maintaining immaculate landscaping or ensuring that rental fees are collected on time, property managers are experts in all aspects of property management.

Property managers need to have sufficient knowledge of the local real estate industry since they will be responsible for renting out the property at a competitive rate. Usually, property managers work in teams to ensure the smooth management of leases, tenants, budgets, safety standards, as well as compliance with state and national laws. Some states even require property managers to be licensed, real estate brokers, or realtors.

What are the types of property managers?

Commercial Property Managers

They specialize in properties used for commercial purposes. Commercial property managers are well-versed in managing large buildings that are rented out by multiple businesses.

Multi-Family Property Managers

multi family

Multi-family property managers oversee the daily operations of apartment complexes and condominiums. These property managers have excellent customer service and can deal with the problems that may arise among neighbors.

Single-Family Home Property Managers

luxury single family

Homeowners who want their homes rented out for additional income seek the expertise of single-family property managers. Some investors purchase homes in areas with a high demand for rental homes and hire property managers to ensure that all aspects of their investment are handled, from screening tenants to collecting rent.

Luxury Property Managers

Luxury properties need five-star treatment. Luxury property managers focus on keeping the property impeccable all year long for homeowners who might arrive at any moment. They exceed expectations by catering to the homeowner’s every request, such as ensuring fresh flowers at the entryway.

What does a property manager do?

Screening Tenants

screening tenants

Property management firms deal with screening prospective tenants. They advertise the property and source tenants who would like to rent the space. This involves creating listings, staging the property, and more. When a tenant applies to rent the property, it is the property manager’s job to see if they meet certain qualifications. Good property managers conduct a thorough background check, reviewing records such as credit scores, employment status, and criminal history (if any). It’s the property manager’s responsibility to ensure that only the tenants who can pay rent get to live at the property.

Regular Property Maintenance

Property managers are responsible for making sure that the property is safe and habitable all throughout the year. This includes regular maintenance and repairs, which includes performing routine checks on appliances, plumbing, and electrical systems. Property managers conduct regular maintenance before, during, and after a leasing period. This is done to ensure that the property looks its best even when no one is looking. If tenants leave their garbage out on the sidewalk, it’s the property manager’s job to make sure it doesn’t happen again.

When tenants report necessary repairs and renovations, property managers need to hire a service to do the work. Property managers usually have a vast network of reputable contractors, carpenters, electricians, technicians, and more.

Rent Collection

rent collection

Rent collection is never an easy task. It’s probably the most stressful task that homeowners have to deal with. Thankfully, property managers are tasked to handle rent collection, whether through the physical collection of rent or online payments. The property manager must ensure that payments are made on time. They are trained to de-escalate situations and to handle everything professionally at all times. When tenants fail to pay their lease, property management firms may hire a law firm to help evaluate the terms of the lease that were violated.



Unlike the movies, eviction takes more than just kicking someone out of the property. There are legal complexities and tons of paperwork involved. Usually, a property manager will hire an attorney to ensure that the entire eviction process complies with state and national laws. In rare cases, the property manager may request assistance from law enforcement to remove the tenant from the rental property.

Similarly, when tenants move out, property managers need to schedule the move-out while also sourcing new tenants. Good property managers will ensure that rental properties don’t stay vacant on the market for too long.

Accounting and Finance

Bookkeeping is the least exciting part of property management, but it’s the most rewarding. Property managers either have a background in accounting or work with a team of accountants. Accounting is essential for keeping the cash flowing and for managing your expenses. Since rental properties are a passive investment, it’s best to have someone who can determine whether or not you need to make adjustments to your budget to get the highest ROI. It is also the property manager’s job to transfer the income to your bank account and to provide you with timely and detailed financial reports.


Hiring a property manager – especially reputable ones like Luxury Property Care – is a smart move if you want to make more money with less stress. Property management companies can help maximize your real estate asset, turning in into an income-generating investment. While it may seem like property management is an expense, in the long run, it’s actually an investment as it helps maintain (and grow) your property’s value.

Property management is a complicated responsibility — property managers are there to handle it all so that you don’t have to.

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    רן כהן
    רן כהן
    15:44 14 Oct 20
    Luxury Property Care helped me remove a violation against my property and rent it out very quickly. I'm a foreign... investor and I'm glad I found them to be my legs on the ground. great experience! thank youread more
    randy abou
    randy abou
    14:29 13 Oct 20
    Liran and Sivan helped me buy my first investment property and found me tenants at even a higher price than we listed... it.  I then decided to manage my property with them and so far I’m very happy I did.  Thank you guys for all your hard workread more
    קובי הר-פז
    קובי הר-פז
    08:45 19 Sep 20
    The best property managers you’ll ever find!With luxury property care you can sleep tight and be confident that your... assets are being manage in your best interest.Everything is being done on time. Accurate monthly and yearly reports - on time every time!They are always there for you! By phone and/or email. You’d always get a professional answer to any question big or small.For me the question about who are the best property management has an obvious answer!Luxury Property Care for sure!Kobi.read more
    Latoya Jones
    Latoya Jones
    21:36 01 Sep 20
    Whenever I have a maintenance issue, it's handled fast. Staff is very courteous and responsive. Going on year 2 with... this company and I don't have one bad word to say. I will recommend them to anyone looking.read more
    משה כהן
    משה כהן
    19:59 31 Aug 20
    the best company.the profetiol peple I work with!
    Eric Braunstein
    Eric Braunstein
    13:49 14 Aug 20
    I am a Real Estate Attorney in South Florida and I have utilized the company's services for many properties. The... principals and employees are courteous and professional. I have received exemplary service every time I have used Luxury Property Care. I highly recommend them for property management and related services.read more
    Jason Davis P.A.
    Jason Davis P.A.
    13:22 14 Aug 20
    This company brings you peace of mind. Great communication and responsive to all your management needs. I'm always... confident referring clients. A+ establishment!read more
    American Hong Kong Investment Corp
    American Hong Kong Investment Corp
    20:29 18 Jul 20
    I've been very pleased working with Luxury property care to manage my investment properties In Miami and in Boca Raton... for a few years now. They are trustworthy, persistent, and passionate. We were happy to find a someone we can trust. Sivan and Liran are always available on what's app to take my questions and handle any issues. For example on of my tenants has a flood from the neighbors above on the middle of the night. I called them, and they answered and took care of it in the middle of the night! They found the management office which brought the custodian in the middle of the night to shut down the main water valve. And the next morning it was already fix. That is the type of care they give high recommended.read more
    Hilary Ostrega
    Hilary Ostrega
    16:53 09 Jul 20
    I am absolutely thrilled with my referral to Luxury Property Care. Their management company handled a Landlord... referral, which was very time sensitive. I was handling a litigation matter and my client needed management assistance with a problematic tenant, including oversight and inspection. They provided VIP service at a competitive rate and my client was thrilled with their assistance. My client was so thankful to work with Luxury Property Care. I highly recommend.read more
    stephanie azoulay
    stephanie azoulay
    00:07 07 Jul 20
    I was looking for a property management in Florida to rent/manage my investment properties due to the Corona virus and... travel restrictions i couldn't do it myself. I'm glad I joined Luxury property care. Sivan and the team are super friendly, responsive and most importantly they do what they say!Thank you for a great experience so far.read more
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