Read Time: 6–8 minutes
Quick Summary: What You’ll Learn in This Article
- What a property manager does on a day-to-day basis
- The benefits of hiring a property management company
- How a property manager can help reduce stress, save time, and protect your investment
- Step-by-step guide to hiring the right property manager
- Key qualities to look for in a great property manager
- Helpful links to learn more about services like tenant screening, maintenance, and eviction support
Owning rental property can be a smart investment—but managing it? That’s a full-time job. Between late-night maintenance calls, tenant complaints, rent collection, and ever-changing legal requirements, many landlords quickly realize they need help. That’s where a property manager comes in.
Whether you own a single-family rental, a small apartment complex, or a portfolio of investment properties, hiring a qualified property manager can help you maximize returns while minimizing headaches. But what exactly does a property manager do—and how do you find someone trustworthy and experienced enough to hand over the keys?
Let’s break it down.
What Is a Property Manager?
A property manager is a professional (or a company) hired by a property owner to handle the day-to-day operations of a rental property. Think of them as your boots on the ground—someone who acts on your behalf to maintain your investment, keep tenants happy, and ensure your property stays profitable and legally compliant.
If you’re interested in learning more about the services offered by a property management company, check out our Property Management Services Overview.
Want an external breakdown of what a property manager does? Visit Investopedia’s guide to property management.
Key Responsibilities of a Property Manager
Here are some of the most common tasks a great property manager will take off your plate:
- Marketing & Advertising Vacancies: They’ll create professional listings, post them across multiple rental sites, take quality photos, and schedule showings. A strong manager knows how to reduce vacancy time by pricing your rental competitively and targeting the right tenants.
- Tenant Screening & Placement: This includes processing applications, running background and credit checks, verifying employment and rental history, and choosing the best-fit tenant. Proper screening helps reduce evictions and late payments. Learn about our screening process here.
- Rent Collection & Financial Management: No awkward conversations needed—your property manager ensures rent is paid on time and will handle any late fees or delinquencies. Most also provide monthly financial statements and year-end tax documentation.
- Lease Management & Renewals: From drafting and enforcing lease agreements to managing renewals and rent increases, your manager ensures everything is done by the book.
- Maintenance & Repairs: Property managers coordinate preventative maintenance and respond to repair requests, often using a trusted network of vendors to ensure fast, quality work. Many offer 24/7 emergency maintenance, saving you from that 2 a.m. “the heater stopped working” phone call. See how we manage maintenance here.
- Tenant Relations & Conflict Resolution: They handle everything from neighbor complaints to lease violations with professionalism and empathy—keeping you out of the middle.
- Move-Outs & Turnovers: When tenants leave, your manager oversees move-out inspections, manages deposit returns, and coordinates cleaning and repairs to get the property rent-ready quickly.
- Legal Compliance & Evictions: A good manager understands local, state, and federal laws—and ensures you stay in compliance. If eviction is necessary, they’ll handle it swiftly and legally to minimize costs and delays. You can also review NOLO’s eviction process guide for a national overview.
Why Hire a Property Manager?
Some property owners enjoy being hands-on. Others would rather treat their investment as truly passive income. Hiring a property manager can provide:
- Peace of Mind: You can rest easy knowing a professional is watching over your property and tenants.
- More Free Time: Whether you have a full-time job, travel frequently, or manage multiple properties, a manager gives you your time back.
- Better Tenant Retention: Happy tenants stay longer. A responsive, professional manager can significantly reduce turnover and vacancy costs.
- Higher Property Value: Well-maintained homes, solid tenant screening, and timely updates help protect and even increase your property’s value.
- Legal Protection: A qualified property manager ensures compliance with Fair Housing laws, habitability standards, security deposit rules, and more—reducing your risk of fines or lawsuits. For legal guidance, visit HUD’s Fair Housing information.
How to Hire the Right Property Manager
Not all property managers are created equal. Here’s how to find the right fit for your rental property:
- Define What You Need
Are you looking for full-service management, or just help with leasing and tenant placement? Do you own a single property or several? Clarify your expectations before you start your search.
2. Ask for Recommendations
Start by talking to real estate agents, other landlords, or investor groups in your area. Word of mouth is often one of the most reliable ways to find trustworthy property management companies.
3. Do Your Online Research
Check online reviews, social media, and Google listings. Look for consistency in feedback. One or two negative reviews might be normal, but patterns of poor communication, excessive fees, or neglected maintenance are red flags.
4. Check Credentials and Licenses
In many states, property managers are required to hold a real estate license or special certification. Make sure the manager is licensed and insured, and ideally affiliated with professional organizations like the National Association of Residential Property Managers (NARPM).
5. Interview Multiple Managers
Ask about their experience, the types of properties they manage, and how many properties each team member is responsible for. Don’t forget to ask specific questions like:
- How do you handle emergency maintenance?
- What’s your process for tenant screening?
- How do you handle late rent or lease violations?
- Can I see a sample monthly statement?
6. Request References
Speak to a few current or former clients. Ask about their experience, communication, and whether they’d hire the manager again.
7. Review the Management Agreement
This is your contract—read it carefully. Understand the fee structure, included services, termination policy, and what happens in case of a dispute. Look for hidden fees or vague language.
What to Look for in a Great Property Manager
Ultimately, you’re trusting someone to care for your investment. Look for these essential qualities:
✅ Experience & Market Knowledge: Especially in your local market and with your property type.
✅ Strong Communication: Timely, clear communication with both you and your tenants.
✅ Integrity: Transparency, accountability, and ethical business practices.
✅ Technology Savvy: Online portals for owners and tenants make everything more efficient.
✅ Investor Mindset: Someone who understands cash flow, ROI, and protecting your bottom line.
Final Thoughts
Hiring a property manager is one of the most important decisions you’ll make as a landlord. The right manager can increase your profits, reduce your stress, and turn your rental into a truly passive investment. But the wrong manager? That can cost you more than just money—it can damage your reputation and investment long term.
By understanding what a property manager does and following a careful hiring process, you can confidently select a professional who aligns with your goals and brings lasting value to your property.
Ready to take the next step? Contact us to find out how we can help you manage your investment with confidence.
