Property Manager vs. Asset Manager

[Brian Teeter]

Hey everyone — wanted to open up a discussion that’s come up a lot lately in my conversations with owners and fellow PMs:

What’s the difference between a Property Manager and an Asset Manager?
And more importantly — should we, as property managers, be aiming to play both roles?

Property Manager – Day-to-Day Operations

Handles the operational nuts and bolts:

• Leasing and rent collection
• Tenant communication and screening
• Repairs and maintenance
• Evictions, legal notices
• Compliance and inspections
• Monthly rent and expense reporting

Goal: Keep the property occupied, compliant, and functioning smoothly.

Asset Manager – Long-Term Financial Strategy

Focused on increasing value and return over time:

• Setting investment targets (IRR, cash-on-cash, etc.)
• Market analysis and performance benchmarking
• Planning renovations/capital improvements
• Advising on refinance, 1031 exchanges, exit strategies
• Tax planning and portfolio diversification

Goal: Maximize ROI, equity growth, and long-term performance.

In short:

A property manager preserves an asset.
An asset manager grows it.

As property managers, many of us are already doing more than traditional “management” work—especially for investor clients who look to us for guidance.

So here are a few questions I’d love to hear your thoughts on:

• Do you market your PM services as “asset management”?
• Have you structured your reporting or client experience around ROI, not just rent collection?
• Do your clients expect you to advise on long-term strategy?

Looking forward to hearing how others are approaching this shift — or if you think the roles should stay separate.

Brian Teeter
Turnkey Property Management | Little Rock & Memphis
“Not just managing doors — managing portfolios.”

[Bill B.]

Good points above. 

You probably can’t charge more. Do you plan to know more about the owner’s goals and other investments than the owners? Are you going to be a fiduciary for the owner? If you are a fiduciary are you going to recommend they sell all the properties you’re managing for them and do a 1031 exchange to a better market? After all most PMs are not in their client’s best choice of markets. 

I would assume anyone that wanted that service would pay an advisory who was required to be a fiduciary, and probably already has one. OTH you can certainly print out some reports showing performance compared to last year and market averages. At least for those that have no accounting software and don’t use CPAs. (Another sign that charging for anything is going to be a hard no for most clients. )

I was going to say good luck. But then I thought of a “better idea”. Email your clients… 1) is this something you’d be interested in? 2)  would you be interested enough to pay? 3) how much? You gotta be careful you don’t get just a couple people sign up and you have to pay for people, licenses, education, certifications, insurance and so on to service a handful of people. Now.  Good luck.