An investor might start out with just one rental unit, planning to buy more in the future. As their portfolio of properties grows, the situation could change from a simple opportunity for some extra income to a full-fledged business. Real estate investment companies come in all sizes. It might consist of just one individual, or it might be a huge conglomerate traded on a stock exchange.

When real estate investing expands and becomes a business, the owner might need to hire a real estate investment manager. This person or company doesn’t own a stake in the properties themselves, but works for the owner to oversee their portfolio of properties. It is their job to create a strategy that will bring the owner the best return on their investment. Someone with only a checking account wouldn’t need a financial manager or wealth manager, but someone with a portfolio of various stocks, bonds, mutual funds, and retirement accounts might. In the same way, an owner with only a few properties may not need an asset manager. One with multiple real estate assets will benefit from having an expert help them get the most from their investment. 

A reputable management company will always do what they can to protect the owner’s investment by finding reliable tenants, keeping the property in good shape, reducing expenses when possible, and sticking to a budget. It is important for owners to 

find one they can trust

.

A typical full-service property management company would include these services:

• Find tenants. Property managers may take care of advertising and showing rental properties, screening applicants and doing background checks, and providing the necessary lease paperwork and tenant rules and regulations.
• Prepare rental units. Property management companies either employ or sub-contract various tradesmen to get rental units ready for new tenants. Carpenters, HVAC techs, painters, etc. will work to get apartments or houses ready to rent.
• Collect rent. Property managers are often responsible for rent collection and the associated accounting and banking. They will also typically handle late notices and start eviction proceedings if necessary.
• Handle maintenance requests. Tenants are usually instructed to contact the property manager during emergencies or when repairs are needed. As with preparing units for new tenants, the company will provide the appropriate worker to take care of the problem.
• Upkeep and maintenance. The property manager takes care of the exterior of the building as well as any public spaces such as a pool, laundry room, hallways, or workout space. They will mow grass, shovel snow, and sweep on a regular basis.

• Monitor the real estate market. Real estate asset managers will watch for trends in the market and make suggestions about properties to buy and sell. They may keep an eye out for specific types of dwellings that will fit into the strategy for the portfolio. For example, one portfolio may stick to only single-family homes, while another might benefit branching out to acquire an apartment building.
• Work with lenders. Through their relationships with various lenders, the real estate investment manager will work to secure financing on the owners’ behalf. They will shop for favorable interest rates and do the negotiating and administrative work.
• Negotiate leases and property agreements. They will draw up the appropriate legal documents to protect the interest of the owners.
• Maximize property value. They will help steer decisions toward what will maximize the value of the asset. For example, they may suggest repairs and improvements on one property versus another. Or they may advise adding amenities like a pool or workout room based on what renters are willing to pay more for in a certain area.
• Market the property. Many asset managers will work with a leasing team to market the rental in a way that is most appropriate in the region with a goal to reduce vacancies and increase revenue. 
• Budgeting. The asset manager will be responsible for capital and operations budgets and a financial strategy that will minimize costs and maximize value. They will provide long-term financial projections and cash flow management.
• Hire a property management company. To further lighten the administrative load on the investor, the real estate asset manager might find and interact with a property management company for them.