According to the documents setting out the obligations of their working relationship and pursuant to the enumerated duties to be completed, the property owner and property manager begin their relationship with the understanding that the manager will handle important administrative duties for the proper functioning of the owner’s property on his behalf. These agreed-upon duties come under operational categories which are all interrelated, as each deals in some way with coordinating services for the tenant mix residing at the property complex as renters. The job of the property manager contains three different parts which inform her responsibilities throughout her work day: how she administers the business needs of the owner’s property company; how she manages the actual physical premises which she oversees; and how she works with the various individuals on the property, including the tenants living at the property and the required service providers who are providing work on the premises for the benefit of the property owner.
● Financial Administration
A true property manager is responsible for transacting any business affairs related to the operations of the property. That is a full-time job and must be handled contemporaneously with the oversight of the actual physical plant in her care, because everything taking place on the property or on its behalf the property likely has a price tag and involves either expenditure of funds on the property or receipt of funds representing rental payments. Working within a budget, the manager must coordinate all monies coming in and going out.
● Property Condition
A property manager is also responsible for coordinating the condition and repair of all property. That includes any common areas such as sidewalks between the buildings, internal hallways if the tenant area is a building; private drives and streets; and other public pedestrian areas within the complex grounds. The buildings containing individual residential living spaces are also within the oversight of the manager, as well as any property owner-provided appliances. These could include stoves, sinks, hot water heaters, built-in central air and heating units. The fact that these devices are provided as part of the leased property means that the owner remains responsible for the conditions of all things listed above unless there is alternative wording in the rental documents placing those duties on the tenants themselves, or reserving those duties for the property owner rather than the manager to complete.
● Tenant Possession and Satisfaction
One of the most challenging responsibilities of the property manager is to collaborate with the individual tenants in a professional way to speak to the property owner and his position as the landlord. Simultaneously, the property manager cooperates with the tenants and represents their concerned to the landlord. Because the property manager is retained as a hired employee of the owner with fiduciary duties to that owner to protect his financial interests and property, the obligation due to the owner is more significant than her duty to the tenants, but she retains some obligation to represent the tenants and their concerns to the owner where applicable.
The job of the property manager is a big job requiring specific knowledge about the financial interests involved and the property being managed. The manager must strike a professional balance between her work with the tenants and the work performed by the owner. The manager is truly in the middle between the two and must figure out a way to properly serve both roles that meets the needs of all parties to the relationship. It is possible to competently handle the job in an efficient manner if the Property Manager in Austin has sufficient training and skills.