Property owners, especially those who own properties for profit or income purposes, usually hire the services of a property manager to take care of the day-to-day for them. First-time buyers are often surprised when their real estate brokers offer property management services too, which begs the question: “Real Estate and Property Management: How Do They Relate?“
First off, real estate and property management are more connected than one would think. Here are but a few of the ways and/or situations that link both:
- Real estate firms offer property management services too
If your real estate broker also offer property management services for your single-family or vacation rental, don’t be surprised. A number of real estate firms offer various other services on top of real estate buy and sell, and usually, property management services are the first after-sales product they offer.
- A real estate broker also works as a private property manager
Sometimes, a real estate broker also works as a private property manager. However, certain states require a license to do both so make sure to check if your real estate broker has all the proper valid licenses to work as both your broker and property manager.
Make sure too, to check the specific duties and tasks they are allowed to perform, based on what the state allows for the type of license they hold.
- Property management is classified as a type of real estate work
Contrary to popular belief, real estate work doesn’t start and end with the buy-and-sell process of a particular property. So perhaps the most significant link that answers the question: “Real Estate and Property Management: How Do They Relate?” is the fact that property management is considered as a type of real estate work. Again, this is why it shouldn’t be surprising to learn that your broker or agent also offers property management services. In fact, property management is becoming more and more popular among real estate agents and brokers, which is why a number of real estate agents or brokers have a license to perform in both professional capacities.
Do you wish to learn more about “Real Estate and Property Management: How Do They Relate?” The answer you’re looking for could be in one of our blog posts. And if you’re interested in learning more about homeowners associations and property management in California, please stay tuned to our community news page.