What Does a Property Management Company Do?

Property management companies play a crucial role in ensuring that rental properties benefit from smooth operation and regular or necessary maintenance. Whether it’s managing an apartment building, single-family home, or commercial property, property management companies like Shannon Property Management specialize in handling all of the day-to-day tasks and responsibilities so that property owners can enjoy their investment without worrying about the minutiae of management. So, what exactly does a property management company do? Let’s take a closer look.

Marketing and Advertising

One of the primary functions of a property management company is to market and advertise the rental properties they are entrusted with. At Shannon Property Management, our team uses various channels such as online listings, social media, and other media to attract potential tenants. We will also handle inquiries, conduct property tours, and screen potential tenants to find the best match for the property and the owner’s needs.

Setting Rent

Setting the right rent for a property is a key part of attracting qualified tenants and maximizing profits. Shannon Property Management has a deep understanding of the local real estate market and our team works to help property owners determine the optimal rent for their properties. We’ll also regularly review rental prices and make necessary adjustments to stay competitive.

Tenant Relations

Tenant satisfaction is another key part of the success of any rental property. Shannon Property Management acts as the point of contact for tenants to handle all their concerns and needs with a prompt and friendly response. Our team will ensure that all maintenance issues are addressed promptly, collect rent on time, and enforce any lease agreements or rules.

Property Maintenance

Maintaining a property in peak condition is not an easy task, especially for owners who have other responsibilities and their own personal properties to care for. Shannon Property Management takes care of all maintenance tasks, from routine repairs to emergency situations, and we have trusted contractors and vendors that we work with to ensure high-quality and cost-effective services so you never have to worry about finding, vetting, or booking contractors on your own.

Financial Management

Managing a property’s finances is a critical aspect of property ownership, and Shannon Property Management is here to help our property owners handle finances efficiently and wisely! We’ll collect rent, pay bills and taxes, and provide detailed financial statements regularly so our property owners are updated on the financial health of their investments.

Legal Compliance

Property owners need to adhere to various laws and regulations, and it can be overwhelming to keep track of all of them. Property management companies have a thorough understanding of landlord-tenant laws, fair housing regulations, and other legal requirements, and Shannon Property Management will ensure that all properties are compliant, avoiding any potential legal issues for the property owners.

Vacancy Management

A vacant rental property means a loss of income for the property owner. Property management companies work diligently to minimize the vacancy period by setting competitive rental prices, marketing the property to attract potential tenants, and conducting necessary repairs or renovations to make the property more desirable.

Property management companies like Shannon Property Management are here to handle all the tasks and responsibilities of owning a rental property, allowing property owners to reap the benefits without the stress and hassle of dealing with the minutiae.

From finding the right tenants to maintaining the property and handling finances, our team is dedicated to the success of our rental properties. If you own a rental property and want to save time, learn more about our property management services and contact us today for more information!

Houston Property Management Services

Roomshare & HOA Property Management

In addition to single and multi-family residential properties, Shannon Property Management also offers management services for room share situations, HOA groups, and more. Our team is experienced in providing the oversight and maintenance your property deserves, allowing you to focus on other areas of your life.

Multi-Family Property Management

Owning a multi-family rental property is an incredible responsibility. From managing multiple tenants to maintaining the grounds, there are many additional tasks associated with this type of property ownership. The Shannon Property Management team partners with owners of both large and small multi-family properties, providing them with onsite management services, security services, and more.

Single-Family Property Management

Single-family residential properties make up a majority of the Houston rental market. When renting a single-family home, it is important to select a top-quality tenant that will care for the home as if it was their own. In addition to the larger size of the home, the tenant may also be responsible for yard maintenance, something that should be discussed during the showing.

Shannon Property Management handles single-family residential...