Property management on the rise as investors are electing to lease versus buy real estate

Property management is on the rise as discriminating professional property investors are electing to lease rather than buy real estate due to increase in mortgage prices and stringent banking demands. Renting is now becoming the more popular approach method that is keeping businesses competitive. The trends are moving towards renting property that the need for property management is accelerating. Property management demands time, expertise and good stewardship. Property management operational managers will ensure that investment properties are managed effectively. This is the same for residential and commercial property. Having a team of professional property managers will bring comfort not only to the landlords, but also the tenants. Property management companies have the day to day obligations and responsibilities to govern and to implement all of phases of management. One of the highest duties of a property manager is to develop a good report between the tenant and the landlord. The duties performed by a property manager whether commercial or residential are relatively the same, but your knowledge between the two is miles apart. Management services towards any investment property will include the basics: collecting rent, leasing, developing an infra-structure with detail administrative skills, Overseeing property, deploying contractors, services, vendors, contract review and handling emergency matters and most of all making decisions saving landlords revenue. Property management is a vital part of the property market. In my opinion, should landlords desire to increase the appeal or value of their investment properties, outside management is a sure way to reach that objective. It is my feeling that active effective property management allows investors to concentrate and focus on larger and productive opportunities and ultimately reach their potential, generating further revenue, while management attends to the day-to-day operation. A professional commercial or residential property management effectively maintaining will more than likely raise the level of occupancy, whereby creating a positive cash flow. Management companies' primary goal towards investment property is to maintain a safe and clean property in good condition, increasing the odds to attract quality tenants and to keep existing tenants anchored. Outstanding curb appeal is one key element to ensure high occupancy. This is achieved through keeping the building structure, landscape, lighting and parking essentials of the property in a clean and orderly fashion, including the areas surrounding dumpster too. In these stressful economic conditions with so many uncertainties, the tenant's problems become the landlord's problems. The ability to discern and to unmask the truth behind some of the tenant's tales is exhausting. Today, most tenants are very smart and they will make every attempt to prevail over their landlords. Effective real estate property management is the voice of sanity and a buffer between landlord and tenant that helps protect and minimize the negative impact on investment properties. The best investment towards your property is to employ a qualified real estate management company. Effective property management gives an investor the ease of mind, increases cash flow and tenant's stability. It's been my experience, once a property owner employs a quality property management company the landlord has a sense of relief and the only regret investors have that they should have given their properties over to a management company years ago. Patrick Caroleo is president and CEO at The Dove Organization, Ltd, Ronkonkoma, N.Y.