A property manager runs a rental on the owner's behalf. They market vacant units, screen tenants, collect rent, coordinate maintenance and repairs, handle lease paperwork and renewals, and manage move-outs, deposits, and evictions. Most charge a monthly fee of 8 to 12 percent of collected rent.
That is the short answer. The useful answer is knowing which duties are standard, which cost extra, and which stay your job no matter what you pay. That is what decides whether a manager is worth it for your property.
The core duties of a property manager
- Marketing and leasing. Price the unit against the local market, list it, run showings, screen applicants with credit and background checks, and execute the lease.
- Rent and money. Collect rent, chase late payments, enforce late fees, hold the security deposit correctly, and send you monthly owner statements.
- Maintenance. Take the 2 a.m. call, dispatch vendors, handle routine upkeep, and coordinate repairs between tenant and contractor.
- Tenant relations. Field complaints, handle lease violations, manage renewals, and run move-in and move-out inspections.
- Compliance and records. Follow fair housing rules, state landlord-tenant law, and local ordinances, and keep the paper trail that protects you if a dispute lands in court.
- Evictions. Serve notices, coordinate with attorneys, and represent the property through the process when a tenancy fails.
What does a property manager do daily?
Most days are triage: maintenance requests routed to vendors, rent payments posted, late notices sent, applicant screenings reviewed, showings scheduled, and inspections logged. A good manager's day is built to keep small problems from becoming vacancies, and vacancies from becoming long ones.
What do property managers not do?
The contract defines the exact line, but some things stay with the owner almost everywhere:
- They do not make ownership decisions: refinancing, selling, insurance choices, and major renovations are your calls.
- They do not pay for repairs; they spend your money coordinating them, usually from a reserve fund you top up.
- They do not guarantee rent. If the tenant stops paying, you absorb the loss unless you bought a specific rent guarantee product.
- They do not act as your attorney. Evictions still involve legal counsel, and serious disputes need a lawyer.
- They rarely handle major capital projects without a separate agreement and often a markup.
Do property managers need a license?
In the three states this directory covers, generally yes. Managing rentals for other people for compensation is licensed real estate activity for Florida's DBPR, the California DRE, and the Texas Real Estate Commission, each with limited exemptions such as certain salaried on-site employees. A company that cannot show you a license number is a company to walk away from. Every listing in this directory is checked against state license records.
How much do property managers charge?
The typical monthly fee is 8 to 12 percent of collected rent, but the placement, renewal, and maintenance-markup fees around it decide the real total. We broke down every fee with sourced ranges per state in our Florida fee guide, Texas fee guide, and California fee guide.
When should you hire a property manager?
Hiring one tends to pay off when any of these are true:
- You live far from the property, so showings and maintenance visits cost you travel time.
- You own several units and the coordination load has outgrown your calendar.
- You have a demanding job, and hours spent on tenant calls are worth more elsewhere.
- You do not know landlord-tenant law and would rather not learn it through a mistake.
Self-managing still makes sense for one local unit, a reliable tenant, and an owner with the time and temperament for tenant calls. The honest math: if a manager costs you 10 percent of rent, price your own hours against it.
Find a licensed property manager
Get started: browse licensed companies in Florida, Texas, and California, or jump straight to Miami, Houston, or Los Angeles. Every listing is checked against state license records. Pull three fee schedules and make them compete for your door.