A landlord is someone that owns property that they lease or rent for a fee to another person, generally known as a tenant. A landlord can also be a corporate entity that owns the rental property. A property manager is a person or firm that is in charge of operating the real estate property. A landlord can also be the property manager if he or she is responsible for operating and managing their own rental property.
Property manager’s duties generally include finding and evicting tenants, dealing with tenants and fulfilling a landlord’s wishes. A property manager’s main responsibility is to the landlord and their secondary responsibility is to the tenant.
However the legal responsibility to comply with federal, state and local landlord tenant laws is always the responsibility of the landlord even if he or she has a property manager. Even if a landlord employs a property manager, the landlord is accountable for such tasks as returning security deposits, terminating a tenancy and can even be held liable for a property manager’s illegal acts.
Whether you’re a landlord managing your own property or a property manager managing a client’s rental property, the tasks you face on a daily basis can be overwhelming, time consuming and stressful. Landlords and property managers have a lot to contend with including but not limited to dealing with building maintenance, tenant issues, vacancies, employees, and tenant laws all while trying to make a profit. Realty Information Systems’ Property Management Software enables landlords and property managers to efficiently manage every day task with ease. Check out RISSOFT’s Building Management Software features and see how you can take your Property Management System into the 21st century. This post is provided by RISSOFT Residential and Commercial Property Management Software, specializing in innovative and cutting-edge property management software for all 50 states. Request a demo or contact us today to receive more information. Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.