A building can be a home or it can be a business. Real estate [http://www.entrepreneurfreedom.com/?site=RealEstate&t=article] needs to be properly managed as a business asset in order to be a real profit making enterprise. Homeowners also want to maintain or enhance the resale value and not fall behind on their mortgages. The main reason for a community or property association manager is to increase the value of an investment. Property managers are worth their pay when they make sure that investments reach their full potential.

Community association managers are the ones who manage the mortgage, common property, and services of condos, planned communities, and cooperatives via the community or homeowners' associations when the owners of the apartments, the office buildings, or the industrial or retail properties do not have time or expertise necessary for daily management. The manager is employed directly, either by the owner or else indirectly via a contract with a firm that manages property.

The job of a property manager is to attend to all of the financial operations of the property. This includes collecting rent and paying mortgages [http://best-home-loans.co.za/home/482731-mortgagesreal.php], taxes, insurance and maintenance when it is due. Property managers may also be involved paying the other employees who work on the premises. Asset managers work with financial statements and file reports to the owners of the property. The reports contain details about occupancy, leases that have expired and other monetary matters. Homeowners do not pay rent, but if they belong to a homeowners or community association, they will have dues to pay. Community manages collect and handle the dues.

It is the responsibility of the mortgage broker to negotiate various contracts for specialist as needed for services that are outside the scope of the maintenance staff. For example they would need to solicit bids from contractors on Janitorial, security, trash removal and various other services. Once the bids have been obtained the broker then presents the bids to the home owners. The mortgage broker also monitors the performance of the contractors to ensure that they are performing their job within the requirements of the contract. Managers have to resolve complaints and disputes from residents and tenants. Managers are responsible for all purchasing of supplies and equipment.

On site property managers are responsible for day-to-day operations for one piece of property, such as an office building, shopping center, community association, or apartment complex. To ensure that the property is safe and properly maintained, on site managers routinely inspect the grounds, facilities, and equipment to determine if repairs or maintenance are needed. They meet not only with current residents when handling requests for repairs or trying to resolve complaints.

Those who work between an on site manager and a property owner are often referred to as property managers, and they work off site. They will advertise empty properties to potential tenants through either a leasing agent or other means, and they will recommend competitive rental rates that reflect the local economy.