What is a Property Manager?
Our property managers are full-time managers who do not sell real estate.
Why is this important?
The real estate sales market has slowed in many markets and with the large supply of housing, many sales agents made a decision to supplement their sales income by small-scale rental management. As a landlord, dealing with someone who is only managing 5, 10, or 20 properties sounds good until you understand the differences between these part-time property managers and the kind we have at ERA Woody Hogg.
To complicate matters even more, real estate sales and management have the same licensing requirements. Even though property management is very different from sales, a real estate license allows agents to do either or both if desired. In recognition of the significant differences between sales and rentals, some states require specialized education for new licensees who choose property management as their career specialty. Our property managers devote a tremendous amount of time and energy to staying current on rental laws and court practices. They participate in their respective property management councils and other professional organizations to stay current on fair housing laws, lead based paint disclosure and testing requirements, mold remediation and case law, asbestos, section 8 housing subsidies, and a myriad other issues affecting landlords. Agents who do rentals part-time frequently forgo this ongoing education in favor of playing the odds that it wont happen to them. Most fair housing cases stem from rental situations. You never know when a well-meaning but inexperienced or under-educated sales agent and their landlord-client will be defendants in a fair housing case. Judgments in fair housing actions can range into thousands of dollars! A significant number of mold and lead based paint cases stem from rental activities and can result in huge awards to plaintiff/tenants.
Can you afford not to hire an experienced, professional property manager?
The bottom line: Experience and education count! Our property management team has the experience and resources to deal with situations quickly, efficiently, legally, and with minimal exposure to liability for our landlords.