Property Manager or Landlord – What’s the Difference?
These titles are often misused- they couldn’t be more different! It is important to understand the differences so that all parties- residents, owners, vendors, and property managers- are set up for success.
What is a landlord? The main difference between a landlord and property manager is OWNERSHIP. The landlord is the legal owner of the property being rented. The landlord dictates rent prices, what maintenance they are willing to pay for, and ultimately pays the bills for the property. A Landlord can be a property manager, too. The owner might choose to manage the property themselves and be the direct point of contact for the resident.
What is a property manager? A property manager is a third party that manages the property for an owner (landlord). Property managers can be individuals or part of a larger management firm (like us here at JWB).
So what role does JWB play in all of this? JWB Property Management is hired by our owners to handle most day-to-day situations at their properties and with their residents. We are paid by the owner to do this; because of this, we take direction from the owner and make sure everything we do is in line with the owners intentions and goals for their properties.
Some of the things we do:
*We are responsible to place new residents based on the owners preferred rent rate, as well as renew leases based on the owners preferred rent rate. We take direction from the owner and make decisions in line with the owners’ goals.
*We are responsible to collect rent in order for the owners to be able to pay their monthly mortgages and maintenance expenses.
*We are also responsible to maintain the structural integrity of every home, and handle all required maintenance repairs. For optional or cosmetic repairs, we only complete those with the permission of the owner.
Why is it awesome to rent from a professional property manager?
*We follow the lease! Expectations are clear and everyone knows how things will be handled.
*We have professional vendors! This allows us to complete more quality work in a timely manner.
*We are more available to our residents than a typical owner would be! We operate during and after business hours and want to provide great service to our residents.
*We have more tech resources, like paying rent online to save residents time and lost checks!
*We have a team of 10 property managers, 7 maintenance coordinators, and 3 administrative assistants to provide you support (vs one person if the owner did it all themselves!)
We hope this information is helpful for you to understand JWB’s role in managing the home you rent. We believe that knowledge is power and informed residents are better residents. Please let us know if you have any questions. While we are the middleman in all of this, we hope to provide you with transparency so you have the best experience possible!
