How property management can help in stable income? (1)

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HOW PROPERTY MANAGEMENT CAN HELP IN STABLE
INCOME?
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WHAT IS PROPERTY MANAGEMENT?
According to Investopedia, property management
is managing any type of commercial,
industrial, or residential real estate
property. This includes an apartment complex,
single houses, warehouses, retail, o?ces, or
shopping centers. What happens typically is that
the owner of the property asks a property
management company to keep an eye on their real
estate for them. That means the establishments
they manage are not theirs most of the time.
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RESPONSIBILITIES OF PROPERTY MANAGEMENT
Taking care of the rent
Handling tenants
Maintenance and repair
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TAKING CARE OF THE RENT
As a management, you are entitled to set the
rate to the best level in order to attract
customers.
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You can also adjust the rent as time goes by.
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Usually, both of these need some ?nal permission
from the owner.
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Youll also have to collect the rent when it is
due.
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HANDLING TENANTS

• This is the main job of a management.
• No matter what type of real estate youre
  managing, it is your
• job to ?nd and screen tenants.
• You must know that they are capable of paying
  their rent through credit check history as well
  as their criminal background.
• Youll also be handling the lease term, moving
  out, and even evictions.
• Most of all, it is your duty to take care of
  complaints sent to the management as well as
  emergencies.

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MAINTENANCE AND REPAIR
The best managers preserve the estate to protect
its value..
Maintenance will be important along with
much-needed repairs.
It is your duty to schedule these and ?x the
problems as soon as possible.
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BENEFITS OF PROPERTY MANAGEMENT
Many choose to establish their own property
management company because it is rather easy to
get into. You will only need a limited capital
that you can get from 6 to 12 months of your
income. When it becomes successful, it is a good
way to earn a living and a stable source of
revenue. Plus you can upgrade its value by
succeeding as a business and sell it when the
time comes that you want to retire.
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WANTING TO KNOW MORE ON PROPERTY
MANAGEMENT? CHECK OUT www.enrichredrealestate.com