What’s the difference between a landlord and a property manager?
So, what’s the difference between a landlord and property manager?
There’s a bit of confusion out there so in this video I’m going to try and address this.
There are a lot of people out there that use the terms landlord and property manager interchangeably, so I can understand why there is a bit of confusion out there.
If you are a rental property owner or an income property owner, you’re a landlord.
A landlord is anyone who owns a property that they rent, or they lease. Now that differs from a property manager who is responsible for the management and the maintenance of the property.
A property manager usually takes care of the tenancy vacancies, collecting the rent, dealing with repairs and maintenance and also tenant issues.
Now, that doesn’t mean that a landlord can’t take care of their own property. There’s a lot of landlords out there that wear both hats. Both the landlord hat, so, as the owner of the rental property, as well as the property management hat.
Now, there’s others who tend to take more of a hands-off approach where they’re just strictly a landlord and they hire a property manager to take care of the property, to collect the rent, to deal with the repairs and maintenance, to fill their vacancies, and to deal with tenant issues.