Property Manager's Roles - Paper Sample

Introduction

The property manager is an employee of someone who manages real estate, thus acting on behalf of the owner whose aim is to achieve their boss' goals and objects. The property manager ensures that the promises generate the highest income for the owner and works by preserving or increasing the property owners' value based on prevailing market conditions (Kyle et al., 2000). The manager carries several duties and responsibilities on behalf of the property owner. For example, they have an obligation and responsibility of evaluating the property in turns of operating income, establishing its future potential, and constructing a management plan reflecting the property owner's goals and objectives. Second, the property owner has corporate responsibility for participation in community initiatives that promote social welfare on behalf of the property owner. For example, they should take an interest in social, political, and professional in their municipality to promote the general welfare and general business opportunities professionally. Third, the property manager must work as per the owner's guidelines to meet their objectives. Lastly, the property manager carries out planning through budgeting analysis on behalf of the owner. For instance, the manager is charged with advertising, negotiating, leasing, and insurance, to mention a few on behalf of the owner.

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Advantages

Working as an employer's manager gives one ample time to use their expertise and offer the best services to a property owner professionally. For instance, as opposed to a third-party manager who has varying objectives and goals from different property managers, the property manager focuses only on a given property owner and can thus execute his mandate in the best way. For example, it can take time to analyze a given situation and decide better for the property owner's benefit as solely handle the property. Lastly, there are fewer controversies and lawsuits as the manager deals only with one person can sort out their differences in an amicable way.

Property Owners

A property manager is someone educated in managerial skills and has expertise and knowledge in economics. For instance, the manager comprehensively understands the economic forces at work regarding real estate management and the market. A property manager can construct a management plan and evaluates the property in terms of operating income on behalf of the owner. Such knowledge is vital in scientific management, thus helping the owner realize high profit returns from the investment (Kyle et al., 2000). Secondly, they understand the role of corporate responsibility and its place in improving the owners' public image. Taking part in corporate responsibility is very important for the future success of an investment. In other words, the property manager is a facilitator of the owner's interest. Lastly, the manager knows best how to advertises, market, negotiate and lease the properties professionally.

Conclusion

Property managers are professionals who must demonstrate high integrity and competency when carrying out duties on behalf of the owner (Brown et al., 2017). For instance, they must be fair in their dealings and maintain unimpeachable ethical standards in the workplace. Honest and integrity are very vital to a property manager. For example, they must handle their clients, employees, and any other person in an ethical manner. Lastly, property managers must always act in the best interest of their principles, handle all transactions honestly, and in a discretion manner on behalf of their employers. Property managers must guide all the employees to act and behave property for the business's future success.

References

Brown, D., Portman, J., & Rosenquest, N. (2017). California Landlord's Law Book, The: Rights & Responsibilities. Nolo.

Kyle, R. C., Baird, F. M., & Spodek, M. S. (2000). Property management. Dearborn Real Estate.