One of the best career paths to take today is real estate management. Real estate is a booming business in most counties in the Maryland and many real estate investors are looking for individuals to manage their properties who have both experience and education.
Real Estate, Management
The main goal of a real estate management professional is to do their best to enhance the property and keep it both well maintained and making money. Towards this goal it will be your responsibility to advertise for tenants. Depending on the type of building you are managing, you’ll take one or several different approaches.
Managing Commercial Property
If you are managing a commercial property you can advertise for tenants by posting a billboard outside of the building. This works well for people passing by who have wanted to rent a property within the vicinity. If it’s in a highly trafficked area, it becomes more appealing to businesses that rely on many walk-in customers.
Another advertising approach that works well is to take out a listing in a local newspaper. Many people scan the classifieds each day who are either starting a business or looking to move their existing business. When they notice a listing for an available property in the area they’ve desired they will act fast to secure it.
Another avenue that you can take if you decide on a career in real estate management is to rent residential properties. These can be in the form of a single family home, condominiums, apartments, and vacation properties. With this type of real estate management you will generally have a closer relationship to your tenants. You will be responsible for handling the paperwork associated with the new and continued rentals including signing rental contracts and securing damage deposits.
Many people who deal in real estate management of residential properties hire others to handle the day-to-day maintenance issues. That can be anything from a leaky pipe to a broken furnace. Generally, the maintenance person you hire will consult with you regarding any repairs because you will be the one paying for them.