Market your rental property to minimize vacancies and maximize income (Property managers make their livings because they know the rental market, what comparable properties are renting for, and what potential renters are willing to pay for a rental property. They have the marketing know-how to reach potential renters and they have the experience and resources to weed out potential bad renters);
Fill vacancies with the best possible tenants, through showing properties, gathering applications, detailed background checks and signing of leases;
Maintain and keep your rental property in good condition (Property managers handle and coordinate routine repairs as well as emergency repairs. They have the experience to avoid unnecessary repairs to save you money);
Track income and expenses to determine profitability;
Negotiate rental agreements;
Collect rent and track tenant deposits;
Comply with federal, state, and local laws; and
Respond to tenant requests and deal with tenant problems
In summary, property managers help you make the most from your rental property and they save you time and resources