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What's the Difference: Landlords vs Property Managers?

Juan Martinez • October 28, 2021

Landlords and property managers: they're two very different entities. While some tasks and responsibilities may overlap between the two, landlords and property managers may have a slightly different focus. Understanding the difference between the two can be critical for people who are interested in renting a property.

What is the Difference Between a Property Manager and a Landlord?

When it comes to renting, there are several people that you have to take into consideration.

Property Owners

Property owners are the people who own the property. They can choose to manage the property themselves or to turn those responsibilities over to someone else: a property manager.

Landlords

While some people use the term "landlord" to mean the same thing as "property owner," landlords are generally property owners who take a very hands-on approach to managing the property. They take on the task of collecting rent, arranging for repairs to the property, and managing the unit in between tenants.

Property Managers

Property managers are third parties that take over the task of managing the property for the landlord. When a landlord uses a property manager, that person will be responsible for setting prices for the unit, turning over units between tenants, approving prospective tenants, maintaining the unit, and handling any problems that may crop up., from tenant disputes to repairs and complaints. The property manager will also typically collect rent and handle evictions and other tasks that the landlord does not want to take care of. Property managers can be either a single entity--often an individual who lives on the property to help with managing it--or a company.

Property Management Companies

Property management companies take on the responsibilities of a property manager for multiple properties. Often, they can secure better deals for their landlords, since they may have large contracts with insurance companies, pest control, repairmen, and more. Property management companies can also help prospective tenants with the tools they need to be successful, and may make things like paying rent or reporting problems more convenient. They're often accessible 24/7, rather than the more limited hours kept by some individual property managers and landlords. However, property management companies may have more rigid policies regarding rent payment, renter offenses, or move-in and move-out requirements.

What's the Critical Difference Between a Landlord and a Property Manager?

The biggest difference between a landlord and a property manager is that a landlord owns and manages the property, while a property manager simply takes care of those vital management tasks. While both may perform many of the same functions--and a renter's rights and responsibilities likely will not change based on whether a landlord or property manager is taking care of the property--a property manager or property management company is usually accountable to a landlord.

Landlords often bring a more personal touch to the rental arrangement.

Landlords are often prepared to help new renters settle in, whether that means providing information about the surrounding area or helping those renters figure out what to do next. They may take the renter's personal desires into account when taking care of repairs or making upgrades to a unit while someone is living in it.

Property management companies are often more rigid in their approach.

They may have specific move-in days or a specific day of the month when the rent is due, regardless of whether that arrangement works for a specific renter or not. Frequently, property managers will maintain an all-business approach, while landlords may be willing to negotiate some of the more critical details. Property managers may also not have the ability to approve specific changes, like an alteration of the usual rent agreement. Some property managers will take those concerns to the property owner, while others, especially those who work for property owners who are very hands-off in their management strategy, may not have any room to negotiate or make changes.

Property managers are usually more accessible and will take care of needed work on your unit faster.

Finding that your unit needs repairs can be incredibly frustrating. A property management company is usually accessible 24/7 for emergencies or calls about potential problems. Not only that, they're often better positioned to get the work taken care of quickly. Big property management companies often have agreements with local repairmen that will allow them to bring those repairmen out quickly and take care of any problems as quickly as possible. They will usually make the call to schedule maintenance quickly, and may even put in a rush on important repairs. Landlords, on the other hand, may handle maintenance requests themselves, which leaves you at the mercy of their schedules. Since many landlords also have other jobs and responsibilities, they may not even get around to calling in a repair need until several days after the initial request.

Property management companies may provide more convenience.

Many property management companies will use apps or online submissions to take care of rent payments, maintenance requests, and more. Instead of having to call the property management company directly--particularly challenging if you work unusual hours and don't have the opportunity to call when people are most likely to be in the office--you can often submit those requests virtually. Virtual options can also streamline rent payments and make them more convenient no matter when you take care of them. Landlords, on the other hand, often do not have access to the same technology that you might have come to expect from previous property management companies--and they may not be accessible outside of typical business hours or, by contrast, during typical business hours, if they work at another job.

Deciding whether you want to work with a property management company or a landlord is a personal decision for each renter. Before you sign a lease, however, make sure you carefully consider which type of property management arrangement best fits your specific needs--and make sure you know how to contact your unit's overseer, whether landlord or property manager, in the event of an emergency.

For more information on property management, contact Century 21 Americana Property Management.

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What Does a Property Management Company Actually Do? Behind the Scenes Look

November 26, 2024

A lot of people think property managers just sit back, relax, wait for the phone to ring, collect rent, and that's it. My name is Jorge Rodriguez, president of Americana Property Management in Las Vegas, and I want to show you what really goes on behind the scenes in property management. Should You Hire a Property Manager? Whether you own one property or twenty, there comes a point when managing everything yourself becomes overwhelming. At Americana Property Management, we typically help owners who: Own multiple rental properties and can't keep up with all the demands Live far from their Las Vegas investments Want their rental income to be truly passive Don't want to deal with hiring maintenance staff and contractors Can afford to invest 8-12% of their rental income into professional management The cost of property management isn't just an expense - it's an investment in protecting your property and maximizing its value. Let me show you exactly what I mean. How We Protect Your Investment A lot of owners don't realize how much liability they take on when they self-manage. At Americana, we: Stay current with all landlord-tenant laws Use legally-sound lease agreements that protect your interests Handle evictions professionally when needed Document everything to protect you from false claims Maintain detailed records of all income and expenses Take care of tax documentation Most importantly, we act as a buffer between you and your tenants. When there's a challenging situation - like late rent or lease violations - we handle it professionally so you don't have to be the "bad guy." How We Find Qualified Tenants The number one thing is making sure we find a qualified applicant for your home. At Americana Property Management, we market homes on over 50 websites, including: Zillow Trulia Realtor.com Apartments.com We also list properties on the MLS and work with other realtors to show our homes. We've found that applications from realtors tend to be better because the realtor pre-qualifies them before showing homes. Our Tenant Screening Process When we receive applications, we put them through a very strict verification process: Background checks Credit checks Rental history verification Employment verification Reference calls We want to make sure the person we're putting inside your home is going to pay rent on time and take care of the property. This verification process is vital to successfully managing your property. Once we complete the verification process, we always reach out to the owner with our findings and get their final approval before moving forward. The Move-In Process Setting Up the Lease We draft up a landlord-friendly lease agreement that protects everyone involved - the owner, the property management company, and the tenant. This gives us a legal binding contract that we all must abide by, preventing any misunderstandings in the future. Move-In Orientation Other property management companies might call this a move-in inspection, but we take it a little further. We: Document the condition of the home with pictures Demonstrate how the home functions, including: Where to shut off water if there's a leak How to reset breakers How to reset a GFCI How to relight a water heater How to change filters How to change batteries in smoke detectors and thermostats Ninety-five percent of work orders are very small and something the tenant can take care of. By showing them how during the move-in orientation, we save our owners money on unnecessary maintenance calls. How We Handle Day-to-Day Property Management Rent Collection We make sure rent is collected by the first of the month. Tenants have until the third to pay with no late fee - that's their grace period. On the fourth, they're charged a 5% late fee. If a tenant still doesn't pay rent, we start serving legal notices and ensure we follow through on our collection efforts. Maintenance and Repairs Tenants can submit work orders through our online portal - the same place they make rent payments. When we receive a work order: We inform the owner We dispatch our vendor to diagnose and repair the issue If the cost exceeds our approval limit, we contact the owner so we can make the right decision together Our vendors provide us discounts because of the volume of work we give them. These savings get passed on to our owners - you're getting highly qualified vendors for less than what you'd pay finding someone through Google. Working with Home Warranty Companies If you have a home warranty, we handle everything: Filing the claim Coordinating with the tenant Making sure the vendor goes out Following up to ensure everything is working properly HOA Violations If your property receives an HOA violation: For tenant-caused issues: We contact the tenant and ensure they fix the violation For owner responsibilities: We communicate with you, get bids if needed, and help choose the right vendor to resolve the issue How We Save You Money with Our Vendor Network One of the biggest advantages of working with a professional property manager is our vendor relationships. At Americana Property Management: We have trusted vendors for every type of repair and maintenance Our vendors give us significant discounts because of our volume We only work with licensed, insured professionals We know which vendors do quality work at fair prices We handle all vendor coordination and payment Think about it: When you search for a plumber on Google, you're paying retail prices and taking a chance on quality. Our vendors know they'll get consistent work from us, so they give us better rates - and those savings get passed directly to you. How We Keep You Informed We believe in complete transparency with our owners. Through our online portal, you can: See real-time updates on rent collection Review maintenance requests and approvals Access monthly financial statements Track property performance View all property-related documents Every month, you'll know exactly: How much rent was collected What maintenance was performed Any upcoming expenses or needs Your property's bottom line We take care of your property like it's our own, and we make sure you always know what's happening with your investment. The Lease Renewal Process We start the renewal process 90 days before the lease expires. During this time we: Compare similar properties to see if a rent increase (usually 3-5%) is justified Inspect the property to ensure it's being properly maintained Review the tenant's payment history We take all these factors into consideration before offering a renewal, and we always get your blessing before moving forward. Most of our initial leases are for one year. This gives us flexibility - if a tenant isn't paying on time or taking care of the home, we can give them a 30-day notice to vacate instead of renewing. However, when we do find good tenants, they tend to stay in our properties between 3 to 5 years. We really try to find long-term tenants so you can make consistent income from your investment. Looking for Property Management? Our main focus is making sure your interests are taken care of. You collect a nice check every month, and we handle all the headaches. If you have any questions about how we can help manage your property, you can reach us at 702-719-2100 or email us at pm@americanapm.com.