WHY HIRE A CERTIFIED PROPERTY MANAGER?
By Feagley Realtors
Are you considering taking the plunge and becoming a first-time real estate investor? Perhaps you already own one or more investment properties and are looking for your next big opportunity.
Either way, it is certainty that purchasing real estate in the pricy Bay Area is a significant expense that comes with the potential for big rewards – so long as you avoid the pitfalls.
Because of the risks and time commitments required to manage a property, many real estate investors consider hiring a property manager to take over this responsibility. However, most investors do not know how to choose a qualified property manager.
Hiring a certified property manager helps ensure property owners that their asset will be taken care of by someone with the experience and knowledge to best handle their investment. CPMs are part of an elite highly trained group whose extensive education and expertise allows them to manage a wide range of properties, overcome obstacles and enhance the value of clients’ real estate assets.
“When landlords are looking for a property manager, they want people with experience and understanding of local regulations,” said Jan Feagley, an owner, broker associate and property management professional of Richmond, Calif.-based Feagley Realtors. Feagley earned her CPM designation in 1983 and finds it sets her apart from most property managers.
EDUCATION & EXPERIENCE
CPMs are recognized as experts in their field. Ninety-five percent of CPMs have more than 10 years of experience and all candidates must pass a rigorous certification exam to earn the title. They also must prepare a management plan. Most CPM members hold the highest leadership positions within their company, such as owner or partner.
A CPM carries training in more than property management. A CPM’s versatile skill set includes financial, legal, social, economic and physical areas related to property performance, according to the Institute of Real Estate Management, an affiliate of the National Association of Realtors, which issues the CPM certification.
These skills and knowledge of the economy, markets and local regulations take the property manager title far beyond a role of offering building maintenance and working with tenant complaints. A CPM can assist owners in streamlining operations and capturing the best return on their investment. Budgeting, marketing and communications skills are all part of a CPM’s training and service.
CODE OF ETHICS
CPMs also uphold a strict code of ethics to establish and maintain honesty, integrity and professionalism of the real estate manager.
NETWORK OF PROFESSIONALS
Further, CPM members are part of a network of professionals with access to a variety of services and support. There are more than 8,600 CPM professionals worldwide.
WHAT TASKS DO PROPERTY MANAGERS HANDLE?
Property managers handle a wide variety of tasks, such as advertising your property; property showings to potential clients; tenant screening and background checks; and rent collection. Managers also will arrange all showings of your property to potential clients, along with conducting regular site visits and evictions, when necessary. Further, experienced property managers can consult on marketing and property positioning within the local area.
Streamlined operations by seasoned property management professionals could be an important step toward gaining the maximum return on your investment.
LOCAL EAST BAY KNOWLEDGE
A CPM knows how to best position a property within its market. Feagley, a Point Richmond, Calif., resident since 1974, has deep knowledge of the Bay Area’s East Bay communities. She and her real estate broker husband, Jerry Feagley, are well connected in their East Bay communities. Jan is the Treasurer with the El Cerrito Rotary while Jerry is the current President of the Richmond Rotary.
Jan Feagley has been working in real estate since the 1970s, and found becoming a CPM further enhanced her real estate knowledge and expertise in working with clients’ properties. Over the course of her career she has managed over 10 home owner’s associations and hundreds of individual properties.
Feagley Realtors has offices in Richmond, Albany and Pinole, Calif and manages both residential and commercial properties throughout the San Francisco Bay Area and in Lake Tahoe.