What does a property manager do? Short answer: everything between buying the property and cashing the check. The longer answer is more useful, because it shows where the money gets made or lost.
Fill the vacancy faster, with a better tenant
A manager prices from leased comparables, shoots proper photos, lists on the MLS, and answers inquiries the same day. That’s the marketing and listing half. Then comes tenant screening: credit, income verified at the source, calls to prior landlords, eviction records. On a $2,800 rental, each vacant week costs about $650. Two weeks saved covers a good share of a year’s management fee.
Collect the rent
Online payments, reminders, late fees applied the same way every month, and a written notice the day rent is missed. Owners who manage their own property tend to let things slide because they know the tenant. A manager running rent collection doesn’t have that problem.
Handle repairs without the 11 p.m. phone call
Tenants call the manager. The manager sends a licensed, insured vendor, approves small jobs, and brings bigger ones to you with a quote. Preventive maintenance matters more here than in most places: AC serviced twice a year, drain lines flushed, roof checked before June.
Inspect the property
A manager documents the unit at move-in, walks it mid-lease, and compares the two at move-out. Those inspection reports are what make a security deposit claim stick. In South Florida they also catch the slow AC leak before it turns into a mold problem.
Keep you legal
Florida law sets rules for security deposits, notices, entry, and evictions. Federal law covers fair housing and how a credit report can be used. Condo and HOA rules sit on top of both. A manager handles lease enforcement daily. Most individual landlords meet these rules for the first time when something has already gone wrong.
Deal with the association
In South Florida this is half the job. Tenant approval applications, move-in deposits, elevator bookings, violation letters, special assessment notices. Someone has to read them and respond on time.
Tell you how the investment is doing
Monthly statements, year-end tax documents, and a look at rent versus market before each renewal. Good financial reporting also covers the fall property tax bill, and whether the assessment is worth appealing.
What does a property manager cost?
In South Florida, most residential managers charge a monthly fee of roughly 8% to 12% of collected rent, plus a leasing fee when a new tenant is placed, often half a month to a full month of rent. Ask what else is billed separately. We go through that list in things to consider when hiring a property management company.
What a property manager can’t do
Make a bad purchase good. If the association bans rentals, or the numbers never worked at market rent, management won’t fix that. Which is a good reason to book a pre-purchase consultation before you buy.
Common questions
What does a property manager do day to day?
Answers tenant calls, collects and posts rent, dispatches repairs, pays vendors, deals with the association, serves notices when needed, and reports to the owner.
Does a property manager handle evictions?
A manager serves the notices and prepares the file. In Florida the court filing itself is usually handled by a landlord-tenant attorney, with the manager supplying the lease, ledger, and notices.
Is a property manager worth it for one rental?
Often, yes. One long vacancy or one badly screened tenant costs more than a year of fees.
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