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Pittsburgh Property Management - Property Management Tasks

Fort Pitt Property Management - Tuesday, January 15, 2019

A common question we receive from new landlords is, "What exactly does a property manager do besides collect the rent?".  I recently read a great post on biggerpockets from Brandon Turner in which he took the time to list out 64 common tasks that a landlord/property manager is responsible for.  It is quite extensive and I think it answers that question very well.  Here is that 64 point list:

64 Tasks Landlords Are Responsible For

  1. Preparing a property to rent
  2. Collecting forms needed for the businesses
  3. Placing ads in the newspaper and/or online
  4. Placing signs in the yard
  5. Determining fair market rent
  6. Determining the security deposit amount
  7. Setting minimum qualification standards
  8. Taking phone calls from prospective tenants
  9. Pre-screening tenants
  10. Scheduling appointments to show properties
  11. Meeting with prospective tenants
  12. Answering questions about the property
  13. Selling the property’s features (yes, landlording is about sales!)
  14. Distributing and accepting applications
  15. Screening tenants
  16. Calling former landlords
  17. Verifying prospective tenants’ income
  18. Running background and credit checks
  19. Approving great tenants
  20. Denying tenants who aren’t great tenant material
  21. Ensuring compliance with Fair Housing Laws
  22. Accepting the deposit to hold
  23. Scheduling a lease signing
  24. Signing the lease and addendum
  25. Inspecting the condition of the rental before a tenant moves into the property
  26. Setting up the payment method for the tenant
  27. Accepting rent and depositing rent into the bank
  28. Making sure utilities were properly transferred
  29. Getting copies of the lease to all parties
  30. Creating a tenant file to house their information
  31. Accepting phone calls from tenants
  32. Dealing with maintenance requests
  33. Settling disputes between tenants
  34. Raising the rent when appropriate
  35. Ensuring tenants comply with their lease
  36. Ensuring tenants keep the property in good condition
  37. Scheduling regular inspections of the property
  38. Finding and maintaining a list of reputable, licensed contractors
  39. Managing contractors to make sure the work gets done
  40. Checking the progress on any repairs and ensuring tasks are completed
  41. Paying contractors and dealing with the legal paperwork
  42. Dealing with late rent and getting the required legal forms served
  43. Evicting bad tenants
  44. Dealing with tenants who may be on drugs
  45. Making sure the property is always operating up to code
  46. Firing tenants, if needed
  47. Accepting notices to vacate and overseeing the transition
  48. Bookkeeping to keep track of income and expenses
  49. Keeping a record of tenant communication
  50. Monitoring and paying the bills that the tenant doesn’t pay
  51. Monitoring the lawn care and landscaping
  52. Balancing the checkbook and accounts each month
  53. Producing monthly reports on the financials of the property
  54. Responding to legal threats against the landlord
  55. Performing a move-out inspection of the property after a tenant vacates
  56. Handling the repairs or repainting after a tenant moves out
  57. Getting the tenant’s security deposit returned or applied toward repairs
  58. Scheduling a carpet cleaner and someone to change the locks
  59. Maintaining property management licensing, if needed
  60. Staying up to date on rental-related local, state, and federal laws
  61. Keeping the tenants happy as much as possible
  62. If managing for other landlords, keeping owners happy as much as possible
  63. Keeping the property running at peak performance
  64. Starting back at the beginning of this list and doing it all over again for each property

Sounds a little daunting when it all gets laid out like that, doesn't it.  That's why we are here to help, we have systems and processes in place to handle every task listed above. Contact us to learn more about how we can partner to run your property professionally and in compliance with all federal, state and local statutes.