Did you know that more U.S. households are “renters” since (at least) 1965?
Whether you own your home or you’re renting, everyone tends to keep an eye on rent prices and trends as a solid economic marker of how the overarching economy is doing.
However, when you’re thinking about renting a place, you have to deal with either a landlord or a property manager. If you’re unfamiliar with the differences between the two, no worries. You’ve come to the right place.
Keep on reading for our ultimate breakdown of property manager vs landlord and their main differences.
Property Manager vs Landlord 101: What Are the Main Differences?
When you’re approaching a new rental, you’ll either get to communicate with a landlord or a property manager.
The most basic difference between a landlord and a property manager is that one owns the property and the other simply deals with all the management-based tasks and basically acts as the middleman.
For instance, these property managers main goal is matching you with the right property for your needs and budget.
Yet, for now, let’s start with discussing the actual owners of the property.
What Is a Landlord: Renting From a Landlord
In the simplest of terms, a landlord is a person who owns the property and they’ve decided to lease it out.
As a potential renter, you’ll be getting a direct line of content with the owner of teh property, which comes with its advantages and disadvantages.
A nice perk of communicating directly with your landlord is the human element of building a good relationship, which can translate into quicker responses for maintenance requests, as well as potential renovations that you might have in mind. Besides, you might have an easier time negotiating the terms of your lease during your application period.
However, some of the drawbacks can be the lack of professionalism and delays in getting maintenance promptly.
What Is a Property Manager: Renting From a Property Manager
Property managers are professionals that manage several properties and communicate with renters as part of their full-time job.
Some of the great benefits of renting from a property manager are the structure that’s already in place to ensure that your requests are seen on time, as well as taking advantage of the different methods of payment that are available to you, like online payments.
On the other hand, you’ll find that property managers can be a bit more rigid when it comes to screening tenants. They’ll follow a standardized procedure for applicants, which can include looking at your credit history, your employment, as well as your references.
Unlocking the Differences Between Landlords and Property Managers
For first-time renters, things can be a bit overwhelming.
Thankfully, after reading our breakdown of what property manager vs landlord entails, you’re in a great position to start your search. However, you’re probably going to need to start getting familiar with what rental agreements look like.
You can check them out by going to our legal section and clicking on the ‘rental agreement’ document. Moreover, you can go to our other business sections for all the rental tips and tricks you could need.
