Property Management Best Practices
The Ultimate Property Manager Job Description
Zac Maurais
February 28, 2025
Ensure utilities are set up on time.
Make easy revenue.
Make easy revenue.
Contact@UtilityProfit.com
512-XXX-XXXX
Property managers are the backbone of rental property success. They save landlords time (22 hours/month on average), maintain properties, handle tenant relations, and manage finances. Here's what you need to know:
With clear job descriptions, the right tools, and proactive management, property managers ensure smooth operations and maximize property value.
Property managers have a wide range of responsibilities to ensure properties are well-maintained, tenants are satisfied, and finances are properly managed.
Every day, property managers tackle essential tasks to keep operations on track. These include organizing maintenance, performing inspections, and coordinating property upgrades.
Kaitlin Yezek, Marketing Manager, emphasizes the importance of being proactive: "The biggest mistake you can make is to wait for property maintenance issues to happen before you do anything. Successful property managers are proactive property managers" [5].
Here’s a snapshot of key daily duties:
| Task | Responsibilities | Results |
|---|---|---|
| Property Maintenance | Handling repairs, scheduling inspections, and supervising contractors | Avoids expensive repairs and preserves property value |
| Staff Management | Managing gardeners, cleaners, and security staff | Keeps the property well-maintained and secure |
| Property Inspections | Checking common areas, systems, and vacant units | Spots problems early and upholds standards |
Beyond these operational tasks, tenant relations play a crucial role in property management.
Strong communication with tenants is essential for smooth property management. Luke Marsh, Former Forbes Councils Member, puts it this way: "Communication is the foundation of any relationship, and landlord-tenant relationships are no different. By making tenant communication a priority, you can make managing your rentals that much easier" [4].
Key tenant-related tasks include:
Managing finances and utilities is another critical area. Property managers must track costs, ensure accurate billing, and look for ways to improve efficiency.
Here’s how utility management breaks down:
| Area | Responsibilities | Benefits |
|---|---|---|
| Cost Tracking | Monitoring usage and analyzing bills | Helps identify ways to save |
| Tenant Billing | Coordinating utility setup and managing billing systems | Ensures proper cost recovery |
| System Maintenance | Scheduling inspections and fixing issues promptly | Reduces waste and inefficiencies |
With well-executed utility management, property managers can recover up to 30% more in utility expenses [1]. This involves keeping detailed records, streamlining billing systems, and encouraging tenants to conserve resources.
To handle the complexities of utility management in modern residential properties, property managers need a mix of specialized skills, education, and ongoing professional growth. These abilities go beyond daily tasks and financial oversight, equipping managers to meet the demands of today's property management landscape.
Property managers today blend traditional management expertise with a strong grasp of technology. Here’s a breakdown of key skills and their real-world applications:
| Skill Category | Key Abilities | Application |
|---|---|---|
| Technical Skills | Proficiency in property management software, smart systems, and utility monitoring tools | Overseeing daily operations, tracking maintenance, and managing utility costs |
| Financial Management | Budget planning, utility cost analysis, and expense tracking | Reducing costs and improving investment returns |
| Communication | Building tenant relationships, coordinating with vendors, and reporting to property owners | Defining utility policies and keeping all stakeholders informed |
| Problem-solving | Quick resolution of issues, preventive maintenance, and resource optimization | Reducing waste and improving overall efficiency |
Professional certifications highlight expertise and dedication to industry standards. The National Association of Residential Property Managers (NARPM) offers several certifications that are highly regarded in the field [6]:
| Certification | Requirements | Focus Area |
|---|---|---|
| RMP | Property management experience and NARPM education | General property management |
| MPM | Advanced experience and additional coursework | Advanced management skills |
| CRMC | Certification at the company level | Organizational excellence |
| UMC | Points-based system for education and experience | Expertise in utility management |
The Utility Management Certification (UMC) is particularly valued for its focus on managing water and wastewater utilities. It serves as a benchmark for those looking to excel in this specialized area [7].
Staying updated with industry trends is crucial for success. Property managers should prioritize:
Regularly pursuing courses and certifications helps managers stay ahead in utility billing and tenant conservation strategies [3].
Property managers juggle utility efficiency, tenant satisfaction, and cost management by using structured processes for setup, monitoring, and reducing expenses.
Successful utility management depends on organizing tasks clearly. Here's a breakdown:
| Task Category | Key Responsibilities | Benefits |
|---|---|---|
| Setup Management | Managing utility activation/deactivation and applying Landlord Rollover | Avoids service interruptions between tenants |
| Usage Monitoring | Tracking consumption trends and spotting high-usage areas | Cuts waste and lowers operational costs |
| Cost Control | Reviewing monthly usage data and predicting future needs | Supports better budgeting |
| Maintenance | Scheduling regular inspections and replacing filters on time | Keeps systems running efficiently |
Tracking monthly energy usage (kWh) and performing regular audits on high-consumption equipment can catch problems early and maintain performance [8].
Smart utility management doesn’t just save money - it can also improve tenant comfort.
Here are some strategies property managers can use to lower utility costs:
| Strategy | How It Works | Savings Potential |
|---|---|---|
| Smart Thermostats | Automates temperature adjustments during peak/off-peak hours | Saves up to 10% on HVAC costs [9] |
| LED Lighting | Replaces traditional bulbs with LEDs | Significantly reduces lighting expenses |
| Water Conservation | Installs low-flow fixtures and detects leaks | Lowers overall water consumption |
| Energy Audits | Regularly evaluates building systems | Identifies areas for cost savings |
Using automated tools can simplify these efforts even further.
Digital tools like Utility Profit make utility management easier and more efficient. This platform automates utility setups, provides real-time tracking, and integrates with services like utilities and internet. It’s designed to fit seamlessly into property management systems and can even be customized with company branding.
| Feature | Advantage | How to Use |
|---|---|---|
| Automated Setup | Simplifies utility activation | Add the setup link to approval emails |
| Status Tracking | Monitors utility connections in real-time | View updates via the property management portal |
| Revenue Generation | Earns revenue from tenant utility setups | No additional cost for property managers |
| Nationwide Coverage | Handles utility setups across the U.S. | Partners with local providers |
To integrate Utility Profit, property managers can update approval emails with a branded utility connection link (e.g., www.COMPANYNAME.com/utility-connections) and require tenants to confirm utility setup before handing over keys [10]. By automating these processes, Utility Profit helps simplify utility management and improve overall efficiency.
As utility management becomes more complex, technology is stepping in to simplify operations and make daily tasks more efficient.
Property management software combines utility tracking, tenant services, and operational tasks into one system. Key features include:
| Feature | Functions | Impact |
|---|---|---|
| Utility Management | Tracks, analyzes, and allocates utility usage digitally | Better cost control |
| Resident Billing | Automates billing and expense recovery | Improved cash flow |
| Compliance Tools | Tracks regulations and generates reports | Ensures legal compliance |
| Integration | Connects with smart devices and other systems | Boosts operational efficiency |
RealPage’s platform is a strong example of this type of software. One success story illustrates its effectiveness:
"Our RealPage Utility Advisor partnered with us to execute on necessary utility billing changes. They ended up improving our billing collections by 14% annually and the solution is projected to have a multi-million-dollar, long-term impact." [12]
These tools create a foundation for the real-time utility monitoring systems discussed below.
Smart monitoring systems provide real-time data on utility usage, which helps reduce costs. These systems can impact 10-30% of a building’s operating budget [2].
| Component | Function | Savings Impact |
|---|---|---|
| Advanced Metering | Detects anomalies quickly | Optimizes usage |
| Smart Thermostats | Automates temperature control | Lowers HVAC expenses |
| Leak Detection | Sends early alerts for leaks | Conserves water |
| Energy Analytics | Analyzes usage patterns | Improves efficiency |
Managers using these systems often recover 30% more in utility expenses [1]. The continuous monitoring and quick issue resolution they provide are game-changers for operational efficiency [2].
Utility Profit is a standout platform that integrates easily with existing systems. It serves over 700 property management companies and more than 250,000 homes [11]. Key features include:
| Feature | Benefit | Integration |
|---|---|---|
| Setup Automation | Eliminates manual tasks | Fits into existing workflows |
| Status Tracking | Provides real-time updates | Offers a reporting dashboard |
| Tenant Support | Live assistance for tenants | Backed by 1,500+ 5-star reviews [13] |
| Service Coverage | Nationwide utility access | Works with multiple providers |
The platform simplifies utility management while making it easy for tenants to set up services like internet, gas, water, and electricity [13]. Its seamless integration ensures property managers can maintain their professional branding within their current systems.
Property managers must comply with specific legal guidelines regarding utilities and tenant rights to ensure fair treatment for both owners and residents.
In California, property managers are required to give tenants at least 72 hours' written notice for planned utility interruptions lasting more than two hours [14]. At the time of lease signing, managers must also disclose if a utility meter serves common areas and provide tenants with a detailed utility bill within 30 days of receiving the provider's bill [14][18]. Additionally, managers must inform both homeowners and tenants annually about the California Alternate Rates for Energy (CARE) program, which offers assistance to qualifying individuals [14].
| Legal Requirement | Timeline | Description |
|---|---|---|
| Interruption Notice | 72 hours in advance | For planned utility outages lasting over two hours |
| Tenant Billing | Within 30 days of bill | Detailed explanation of utility charges |
| Common Area Disclosure | At lease signing | Notification of shared meter usage |
| CARE Program Notice | Annual notification | Information on energy assistance programs |
In Oregon, landlords must provide tenants with a detailed breakdown of utility charges, explain allocation methods, and offer access to provider bills within 30 days of receiving the provider's bill [18]. These rules, along with energy efficiency standards, shape property management practices.
In Boulder, Colorado, the SmartRegs program requires rental properties to meet specific energy efficiency benchmarks to maintain their rental licenses [16]. Properties must achieve a minimum energy performance rating - often an E on an Energy Performance Certificate (EPC) - and meet local licensing efficiency standards [15]. These measures ensure both compliance and better utility management.
California also has detailed guidelines from the California Energy Commission regarding building efficiency standards. Property managers should frequently review these requirements to stay compliant [17].
| Standard Type | Requirement | Documentation Required |
|---|---|---|
| Energy Performance | Minimum E rating on EPC | Valid certification |
| Rental Licensing | Basic efficiency standards | Compliance records |
| Building Updates | Energy improvement work | Detailed invoices |
| System Maintenance | Regular efficiency checks | Service records |
Keeping accurate records is essential for meeting utility billing and energy regulations. In Oregon, property managers must document all utility-related transactions, including provider bills, tenant statements, and allocation methods [18]. Proper documentation not only ensures compliance but also helps streamline utility management.
| Record Type | Purpose |
|---|---|
| Provider Bills | Verifies original utility charges |
| Tenant Statements | Tracks itemized billing records |
| Allocation Methods | Documents cost distribution methods |
| Service Notifications | Logs communications about service changes |
Failure to maintain proper records can result in severe penalties. For example, in Oregon, non-compliance with billing laws can allow tenants to recover either one month's rent or twice the amount of any improper charges, whichever is higher [18].
Utilizing smart utility management and embracing technology can greatly improve how properties are run. For example, convergent billing - combining rent and utility payments - makes things easier for tenants while cutting down on admin work. Plus, property management software can handle repetitive tasks, freeing up staff to focus on enhancing resident experiences [20].
| Factor | Impact |
|---|---|
| Utility Automation | Avoids late fees and tracks usage effectively |
| Convergent Billing | Simplifies payment processes and boosts tenant satisfaction |
| Data Centralization | Helps make informed decisions |
| Revenue Opportunities | Adds income through utility setup services |
These principles can be applied through practical strategies outlined below.
Building on earlier insights about utility management systems, here are actionable steps to consider:
Leverage Technology
Use property management tools like Utility Profit to automate tasks, generate extra income through utility setup services, and improve tenant onboarding [21].
Streamline Utility Operations
Digitize utility usage records to spot overcharges and make better decisions [20]. Collaborate with resident billing services for accurate utility calculations and easy online payments.
Centralize Data for Better Insights
Set up a secure database to:
"Propertyware's dashboards, reporting, and open API allow you to analyze every single step of your process to see where the breaks are in the chain...You're going to be able to streamline your business and get to your goal with much more efficiency" [19].
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