Do I Need a Property Manager

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Investing In Real Estate:

A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. A passive investor may hire a property management firm to manage the investment for him or her. Typically, investors choose real estate investments for several reasons: cash flow, appreciation, depreciation, tax benefits, leverage or supplement income. Many new investors have no idea how difficult it is to manage a property, screen tenants or do the accounting then their investment fails to return any profit. Property management is hard work so you should hire a professional with experience to help you with your investment.

We do all types of real estate, not just property management. If you want to invest in real estate, give us a call so we can help you.

What does a Property Manager do for me?

One important role is that of liaison between the landlord and/or the management firm operating on the landlord's behalf and tenant. Duties of property management include accepting rent, responding to and addressing maintenance issues, and providing a buffer for those landlords desiring to distance themselves from their tenant constituency.

There are many facets to this profession, including managing the accounts and finances of the real estate properties, and participating in or initiating litigation with tenants, contractors and insurance agencies. Litigation is at times considered a separate function, set aside for trained attorneys. Although a person will be responsible for this in his/her job description, there may be an attorney working under a property manager. Special attention is given to landlord/tenant law and most commonly evictions, non-payment, harassment, reduction of pre-arranged services, and public nuisance are legal subjects that gain the most amount of attention from property managers. Therefore, it is a necessity that a property manager be current with applicable municipal, county and state laws and practices.

Licensing

Not only are we licensed real estate brokers, we are also registered ethical Realtors®. Most states require property management companies to be licensed real estate brokers if they are collecting rent, listing properties for rent or helping negotiate leases. A property manager may be a licensed real estate salesperson but generally they must be working under a licensed real estate broker. Most states have a public license check system on-line for anyone holding a real estate salesperson or real estate broker's license. So check that your current property manager is a licensed real estate broker.

See our management agreement terms

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Serving all Leelanau and Grand Traverse county real estate areas including: Traverse City, Sutton’s Bay, Leland, Lake Leelanau, Glen Arbor, Old Mission, Omena, Northport, Empire, Elk Rapids and Torch Lake.

City Property Managers - Great Lakes
508 N Saint Joseph St Suttons Bay, MI 49682
Phone: 231-994-3225 Website: www.citypropertymanagers.com



We are your #1 property management and rental listing provider in Northern Michigan.

City Property Managers is a division of
Cygnus Real Estate