The difference between real estate agencies and property management companies
Updated: May 4
In the world of real estate, there are two types of companies that people often confuse: real estate agencies and property management companies. While both may deal with rental properties, there are significant differences between the two that are important to understand.
Real estate agencies in Hungary are primarily focused on buying and selling properties, but some also offer property management services as a side business. However, these services may not be their main focus, and as a result, they may not provide the same level of quality as a dedicated property management company.
A property management company, on the other hand, specializes in managing rental properties. Their main focus is on providing comprehensive services to property owners, including tenant screening, rent collection, property maintenance, and more. Unlike real estate agencies, property management companies prioritize long-term tenant relationships and property maintenance, rather than just the initial sale or tenant search.
One of the main benefits of working with a property management company is their expertise in managing rental properties. They have a deep understanding of the local rental market, and they can help property owners navigate complex legal and financial issues related to property management.
Additionally, property management companies typically offer a wide range of services beyond tenant search and advertising. These may include property maintenance, rent collection, lease management, and accounting services. By handling all aspects of property management, a dedicated property management company can help property owners save time, money, and hassle.
In contrast, real estate agencies may only offer basic property management services, such as tenant search and advertising. They may not have the expertise or resources to handle more complex property management tasks, leaving property owners to manage these tasks themselves or hire additional help.
Overall, choosing the right company to manage your rental property is a crucial decision that can impact your bottom line and your peace of mind. By working with a dedicated property management company like Story's Budapest, property owners can rest assured that their properties are in good hands and that they are receiving top-notch service from a team of experts.