Understanding Real Estate Asset Management

by | Jul 31, 2013 | Real Estate

If you are considering entering the real estate market, it is not enough to just find the best properties.  You will also need to have the know-how to manage these properties wisely for the biggest profits.  If you have little experience managing real estate properties, it is best to leave this part of the business up to the professionals.  Real estate asset management Fairfield companies understand your real estate is one of your biggest assets and, therefore, provide their experience and expertise in the field to ensure your rental units are well-kept and rarely vacant.  Learn more about the various areas of real estate management.

Financial and Marketing
Real estate asset management Fairfield professionals understand the operating expenses associated with rental properties and can, therefore, set an appropriate rental rate.  Firm knowledge of the Greater Fairfield area allows property managers to better assess current neighborhood values to set the most profitable yet fair rent.

Occupancy and Tenants
There are a number of tasks associated with tenants.  The property manager must first screen potential tenants until they find a qualified individual.  They will then have to create a lease, collect a security deposit, assess the tenant’s satisfaction regarding the rental property, and continue to collect rent on a monthly basis.  They will also have to deal with any emergency repairs, violations of the lease agreement, and, in some cases, perform a tenant eviction.

Rental Unit Management
Property management companies also deal with all of the physical management of the rental units, both inside and outside.  They must ensure all the home’s major systems are in good working condition and perform preventative maintenance to ensure no problems arise.  They must also deal with any emergency repairs that arise during the duration of the lease.  Most property management companies have a team of contractors who are able to perform these repairs around-the-clock.

Real Property Management of Greater Fairfield manages all types of rental properties, from single homes to multi-family buildings.  They have the knowledge and experience to handle all phases of the property management process.

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