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One important role is that of acting as liaison between the landlord and tenant. Duties of property management include accepting rent, responding to and addressing maintenance issues, advertising vacancies for landlords, and doing credit and background checks on tenants. In exchange for the service they provide, property management companies pay landlords a percentage of the gross rent collected each month (typically 3-10%), in addition to lease commissions. If disclosed in the management agreement, repair costs may be marked by some property managers. Some property management companies manage home owner associations (HOAs).
Property managers may manage construction, development, repair and maintenance on a property. Property manager relations... more
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