Managing Apartments vs Managing Houses: Is There A Difference?
Category Advice
While managing apartments and managing houses both fall under the category of 'property management', there are some distinct differences in what these roles entail. There are therefore some similarities and differences between the role of a landlord and a property manager.
In this blog we take a brief look at some of the main distinctions between a landlord and a property manager. We also unpack some of the key differences between managing an apartment versus managing a house.
The Difference Between a Landlord and a Property Manager
A landlord is someone who owns a rental property. They retain full control over all matters pertaining to their property. A property manager, however, is someone who manages the day-to-day property affairs on behalf of more than one landlord. Both landlords and property managers are involved in the management of clients or tenants, but on different levels.
A landlord may be more than capable of handling all that the role requires on their own. They may also choose to outsource these daily management tasks to a property manager or property management company. Either way, they retain full control of their property and have the final say on all decisions. A property manager has no say in how the property is ultimately run.
So, let's take a brief look at some of the differences between managing an apartment and a residential property.
Managing an Apartment
Managing an apartment involves all the typical tasks relating to:
- Ongoing maintenance
- Rent collection
- Tenant screening
- Emergency repairs, etc.
These are handled by the landlord themselves or the property management company they choose to outsource to.
A landlord or property manager has to typically work within parameters laid out by the body corporate. There are therefore some restrictions to owning a property within a group of properties. One simple example would be if all units are to be painted grey on the outside, the owner of one apartment can't simply decide to paint theirs red.
Managing a House
Managing a residential rental property involves similar day-to-day responsibilities, though often on a larger scale. Similar rental-related tasks need to be managed, such as:
- Leases
- Repairs and maintenance
- Tenant screenings, etc.
Where the body corporate of an apartment block would manage things like communal pool maintenance, refuse disposal, external repairs and maintenance, etc. a residential property manager will undertake to manage these aspects of a house.
When it comes to managing a residential property, the owner or property manager will have to comply with rules and regulations set by the local homeowners association. These rules can cover anything from restricting the colour of external wall paint to enforcing the standard look of the property within a certain area.
Running an apartment or a residential property is a full-time job. A landlord may save some money by handling everything themselves, but over time it can prove very difficult to stay on top of things, especially if they have a full-time job. Bringing in the help of a professional can make a big difference to the way in which a property is run, as well as its overall profitability.
Need help managing your property? Give us a call.
At SAproperty.com we have forged a great track record for our expertise in rental property management. Our team of professionals specialise in all kinds of property management services, including Sectional Title and HOA Management Services, rental property management, commercial property management, and holiday and short-term letting management. Contact us today to set up an introductory meeting.
Author: SAProperty.com
