What is one role of a property manager in terms of financial responsibilities?

A key role of a property manager is to ensure that funds collected from tenants are handled properly. This responsibility entails several financial management tasks, including the collection of rent, payment of property expenses, maintenance of financial records, and preparation of budgets. Proper handling of funds is crucial for maintaining the financial health of the property, ensuring that bills are paid on time, and managing cash flow effectively. This financial oversight helps in fostering a positive relationship with tenants, as it supports consistent and transparent operations. Additionally, proper financial management can prevent issues such as underfunding maintenance or failing to meet financial obligations, which could lead to operational disruptions or tenant dissatisfaction.