Introduction
In the world of real estate, terms are often thrown around interchangeably. However, for a landlord, understanding the distinction between a property manager and a property management company is vital for your business model.
The Individual: The Property Manager
A property manager is typically an individual professional. They are your point of contact, the person who visits the site, and the one who handles tenant disputes.
- Pros: Personal relationship, direct communication.
- Cons: Limited by their own “bandwidth.” If they are sick or on holiday, your property is unmanaged.
The Institution: Property Management
Property management refers to the firm or the system behind the manager. When you hire a company like Sphinx Property Group, you aren’t just getting one person; you are getting a dedicated accounting team, a maintenance network, and legal experts.
Why the Distinction Matters for Property Management Hiring
When you are in the process of property management hiring, you need to ask: “Am I hiring a person, or am I hiring a process?”
- Scale: A company can manage 100 properties with the same efficiency as one.
- Liability: Companies usually carry more robust professional indemnity insurance.
Making the Choice
If you have a small, low-maintenance unit, an individual property manager might suffice. However, if you are looking for guaranteed rent or high-turnover serviced accommodation, you need the infrastructure of a full property management firm.
