What’s the Difference Between a Leasing Agent and a Property Manager?
In the real estate investment space, the definitions and roles of property managers and leasing agents are often confused or assumed to be the same thing. However, there are distinct differences between the two, and as an investor, it’s vital to get a good grasp of what they both entail.
In this post, we look at the differences between a leasing agent and a property manager, so you can decide which one works best for you.
How Do the Roles Differ?
Property managers and leasing agents have distinct roles. A leasing agent shows potential tenants properties and homes listed for rent, and at their core is concerned with making a sale. Their sole goal is to convince a prospective tenant to rent a property.
Conversely, a property manager handles ALL aspects of the property, even after the property is successfully rented. While a property manager is concerned with renting the property quickly, they also ensure the tenants feel happy about their new space and settle in nicely. Property managers also address any concerns the tenant may have on behalf of the property owner. These concerns include, but are not limited to, minor repairs and ensuring all amenities are in working order.
Can a Property Manager Work as a Leasing Agent?
In most cases, a property manager covers all of the responsibilities of a leasing agent, but a leasing agent only covers some of the many roles that a property manager fills. As an investor, it is important to know that not all leasing agents are created equal, and that many of the issues property owners encounter can be completely avoided by using a knowledgeable and experienced agent during the leasing process. While leasing agents may only be concerned with earning a commission from leasing a property, leaving the property owner to deal with any issues from their newly found tenants, property managers are responsible for the property even after the home has been successfully rented.
How Do Property Managers and Leasing Agents Get Paid?
A property manager is paid a monthly fee for each property they manage, while a leasing agent is paid on commission for each property rented.
Choosing Between a Property Manager and a Leasing Agent
The first consideration while choosing between a property manager and a leasing agent is your goal. A leasing agent would be useful if your main concern is in renting your home, and you intend to manage the property directly after new tenants are placed. For investors looking for a full-service solution, a property manager would be a better bet. A property management firm will not only be able to help in renting the property but also in the on-going daily management as well.
Our recommendation would be to use a property management firm to help in renting your home, even if you intend on managing your property directly. By using a property manager to fill your vacancy, you can use the experience of the property manager to avoid common pitfalls of the renting process and can be directed to the best possible tenants for your home.
Hire Property Managers in Temecula
Working with an experienced and knowledgeable property manager can make all the difference in the world. With a skilled property manager on your side, you can trust that the daily responsibilities of managing your rental home are in good hands and see the difference a professional property manager can make.
At California Realty Group, we are full-service property managers serving the Temecula, CA, area. Get in touch with us today for more information about our listings or property management services!