The property manager's responsibilities include setting and collecting rent, managing maintenance requests, filling vacant units, and potentially setting the property's budget. Property managers often deal with properties that real estate investors don't live nearby or don't want to personally manage. Overall, their primary goal is to keep tenants happy and cared for. A management company also stays informed about local, state and federal laws and regulations related to rental properties. Property managers also keep the owner informed of any new compliance measures or regulatory changes affecting investment properties.
Nichole co-founded Gateway Private Equity Group, with a history of investing in single-family and multi-family properties, and now specializes in hotel real estate investments. Rental properties offer the dual benefit of generating passive income and revaluing over time, making them a strategic option for those seeking a stable and prosperous retirement. Understanding the number of rental properties needed to retire comfortably depends on personalized retirement goals and the return on your investments. For properties with on-site personnel, the property manager oversees personnel, such as maintenance technicians, security, or lobby attendants. The primary objective of a property manager is to ensure the efficiency and profitability of a property on behalf of the owner and to protect and improve the value of the property, while providing excellent service to both the landlord and the tenants.
