What are Homeowners responsible for even after hiring a Property Manager?

Hiring a property manager to take care of your rental property can be a wise decision, but when you hire a property manager to oversee your vacation rental or investment property, it’s easy to think that all responsibilities related to the property are taken care of. However, there are still several important tasks that homeowners are responsible for, even when they have a property manager on board.

Here are some of the key areas where you'll need to remain involved:

1. Paying Bills: While your property manager may handle many aspects of your rental property's finances, it's ultimately your responsibility to ensure that bills are paid on time. This includes mortgage payments, property taxes, insurance premiums, and utility bills. If you don't stay on top of these expenses, you risk incurring late fees, penalties, and even foreclosure.

2. Communicating with the Property Manager: Even if you've hired a property manager to oversee the day-to-day operations of your rental property, it's important that you stay in regular contact. This means responding to emails and phone calls promptly, and staying informed about any issues or concerns that arise. Good communication can help to ensure that your property manager has the information and resources needed to do their job effectively.

3. Compliance with Local Laws: As a homeowner, you're responsible for ensuring that your rental property is in compliance with all local laws and regulations. This includes everything from building codes and safety standards to zoning ordinances and rental regulations. Your property manager can help you to navigate these requirements, but it's ultimately your responsibility to ensure that your property is in compliance.

4. Legal and Financial Obligations: In addition to complying with local laws, you also have legal and financial obligations as a rental property owner. This includes everything from maintaining adequate insurance coverage to protecting tenant security deposits. Your property manager can advise you on these matters, but it's ultimately your responsibility to ensure that you're meeting all legal and financial requirements.

5. Home Maintenance: While your property manager can assist with coordinating and sourcing home maintenance services, you're ultimately responsible for ensuring that your rental property is well-maintained. This includes tasks like cleaning the property between tenants, maintaining the HVAC system, and ensuring that appliances are in good working order.

6. Trash & Recycling Management: If the home is vacant, it is the homeowners responsibility to move the trash cans to and from the curb on a weekly basis. Delegating this task may come with an additional cost outside of management fees.

7. Lawn Maintenance: As a homeowner, you're also responsible for maintaining the property's lawn. This includes mowing the grass, trimming hedges, and removing any weeds or debris.

8. Pest Control: You're also responsible for ensuring that your rental property remains free from pests. This includes taking steps to prevent infestations, as well as addressing any issues that arise promptly.

9. Restocking: If your rental property is furnished, it's your responsibility to ensure that it's well-stocked with the necessary supplies. This includes things like bedding, towels, and kitchen utensils.

In summary, while a property manager can help you to streamline the management of your rental property, there are still several responsibilities that fall on the homeowner. By understanding and fulfilling these obligations, you can help to ensure that your rental property remains safe, comfortable, and profitable.