Stockton Property Management

A Property Manager May Arrange
for a Wide Variety of Services

A property manager is a person or firm charged with operating a real estate property for a fee, when the owner is unable to personally attend to such details, or is not interested in doing so.

Overview of responsibilities

A property manager may arrange for a wide variety of services, as may be requested by the owner of the property, for a fee. Where a dwelling (vacation home, second home) is only periodically occupied, the property manager might arrange for heightened security monitoring, house-sitting, storage and shipping of goods, and other local sub-contracting necessary to make the property comfortable when the owner is in residence (utilities, systems operating, supplies and staff on hand, etc). Property management can also include Apartments, Condominiums, Duplexes and Single Family or Commercial properties where the property manager may operate the business, as well as managing the property. Most jurisdictions may require a property manager to be licensed for the profession.

The property manager has a primary responsibility to the landlord and a secondary responsibility to the tenant. The relationship the property manager has with the landlord and with the tenant are crucial in forming the expectations of both parties to the lease since both parties will seek and expect certain rights and benefits out of it.

Owner expectations

carry out the owner’s instructions, control costs and maximize revenue to maintain a stabilized cash flow as a return on capital invested (commonly referred to as the capitalization rate or the cap. rate) exercise control over the building to safeguard the capital invested, provide a duty of care through proper maintenance of the building be professional and well informed on Fair Housing laws and property management practices and procedures enhance the value of the property by making improvements that will increase its market value, retain and enhance pride of ownership.

Tenant expectations

ensure the "quiet enjoyment" of the premises--an assurance that the premises will be able to be used and enjoyed for the intended purposes without interference from the landlord and/or other tenants (save for emergencies) provide comfort—-a living environment that is properly heated, cooled and ventilated with as many amenities as possible compatible with the rental level provide security and safety--the ability to live and/or work in a building in which there are no inherent defects or conditions that might be hazardous to health or to property provide status—-accommodation and facilities that meet socio-economic and cultural standards for the tenants and their guests.

List of Stockton Property Managers

Professional designations

• Real Property Administrator (RPA)
• Facilities Management Administrator (FMA)
• Systems Maintenance Administrator (SMA
)
• Systems Maintenance Technician (SMT)

• Certified Property Manager (CPM)
• Accredited Residential Manager (ARM)
• Accredited Commercial Manager (ACM)
• Accredited Management Organization (AMO)

• Accredited Community Manager (ACM)
• Professional Housing Consultant (PHC)

• Certified Apartment Manager (CAM)
• Certified Apartment Property Supervisor (CAPS)

• Residential Management Professional (RMP)
• Master Property Manager (MPM)
• Certified Support Specialist (CSS)
• Certified Residential Management Company (CRMC)

• California - Certified Community Association Manager (CCAM)
• Florida - Community Association Manager (CAM)
• Minnesota - Certified Community Association Manager (CCAM)
• Minnesota - Certified Residential Manager (CRM)

Renting

• Renting real estate (real property) for the purpose of housing tenure (where the lessee rents a residence to live in), parking space for a vehicle(s), storage space, whole or portions of properties for business, agricultural, institutional, or government use, or other reasons.
• When renting real estate, the person(s) or party who lives in or occupies the real estate is often called a tenant, paying rent to the owner of the property, the lessor, often called a landlord (or landlady). The real estate rented may be all or part of almost any real estate, such as an apartment, house, building, business office(s) or suite, land, farm, or merely an inside or outside space to park a vehicle, or store things all under Real estate law.
• The rental agreement for real estate is often called a lease, and usually involves specific property rights in real property, as opposed to chattels.

In various degrees, renting can involve buying services for various amounts of time, such as staying in a hotel, using a computer in an Internet cafe, or riding in a taxicab (some forms of English use the term "hiring" for this activity).

Reasons for renting

• In many jurisdictions rent used in a trade or business is tax deductible, whereas rent on a dwelling is not tax deductible in most jurisdictions.
• Financial inadequacy, such as renting a house when one is unable to buy it. One may not wish to pay the full price that ownership would need, allowing for smaller payments over a specified period of time.
• Reducing financial risk due to depreciation and transaction costs, especially for real estate which might be needed only for a short amount of time.
• When something is needed only temporarily, as in the case of a special tool, a truck or a trailer.
• When something is needed that may or may not be already owned but is not in proximity for use, such as renting an automobile or bicycle when away on a trip.
• Needing a cheaper alternative to buying, such as renting a movie: a person is unwilling to pay the full price for a movie, so they rent it for a lesser price, but give up the chance to view it again later
.
• The renter may want to leave the burden of upkeep of the property (mowing the lawn, shoveling snow, etc.) to the owner or his agents.
• There is no need to worry about lifespan and maintenance.
• Renting keeps off-balance-sheet the debt that would burden the balance sheet of a company in case the property would have been bought.

As seen from the examples, some rented goods are used on the spot, but usually they are taken along; to help guarantee that they are brought back, one or more of the following applies:

• one shows an identity document
• one signs a contract; any damage already present when renting may be noted down to avoid that the renter is blamed for it when the good is returned
• one pays a damage deposit (a refundable fee that may be used in part to pay for damage caused by the renter)
• if the customer has a credit account with the rental company, they may rent over several months (or years) and will receive a recurring or continuation invoice each rental period until they return the equipment. In this case deposits are rarely required.
• In certain types of rental (sometimes known as operated or wet rental) the charge may be calculated by the rental charge + timesheets of operators or drivers supplied by the rental company to operate the equipment. This is particularly relevant for crane rental companies.

Persons and businesses that regularly rent goods from a particular company generally have an account with that company, which reduces the administrative procedure (transaction costs) on each occasion.

Signing out books from a library could be considered renting when there is a fee per book. However the term lending is more common.

See also

• Apartments
• Leasing
• Rental agreement
• Rent to own
• The Landlord's Game
• Vacation rental
• Homeowner Associations
• Stockton Homeowner Association List

External links

• Building Owners & Managers Institute International (BOMI) Web site
• Institute of Real Estate Management (IREM) Web site
• National Apartment Association (NAA) Web site
• National Association of Residential Property Managers (NARPM) Web site

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