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The monthly financial statements a property manager provides include, but are not limited to, the following: Property managers provide an assortment of financial statements that help you gain insight into the building’s performance. The financial tasks, typically provided by property management companies, fall under one of three categories: Typically, the benefits of hiring a team include services fall under one of two categories:īroadly speaking, a property management company helps the landlord achieve their financial goals for a property. Hiring a property management team can add value to your business by saving you time and money. What Does a Property Management Company Do? And finally, maintenance engineers handle property maintenance, including tenant issues (like a leaky roof) and general property upkeep and preventative maintenance (like HVAC inspections ). The property accountant/accounting team works on full-cycle accounting, monthly financial reports and vendor inquiries. Property administrators deal with work order management, service contracts, financial reports and event planning. The assistant property manager handles the day-to-day tenant relations (work orders and correspondence), accounts payable and receivable as well as monthly tenant bill backs. When hiring a property management company, the team that will you will work with typically includes:Ī property manager’s responsibility includes things like tenant relations, forecasting, contract services and lease compliance. We will also highlight the benefits they provide to a commercial property owner. In this article, we will discuss the role of a property management company including who they are and what they do. Whether you hope for an additional stream of income or to leverage a long-term asset, hiring a third-party property management company can help you achieve your ownership goals. A property management company provides a variety of services to facilitate property ownership by taking many of the day-to-day tasks off of your plate. Owning and operating commercial property takes a significant amount of time and effort that you as the property owner may not have.