Property management is the process of overseeing and managing real estate properties, such as residential or commercial buildings, on behalf of the property owner. The responsibilities of a property manager can include:
Tenant management: Finding and screening tenants, negotiating leases, collecting rent, and addressing tenant complaints or issues.
Property maintenance: Regular maintenance and repairs to keep the property in good condition. It can also include arranging for necessary services like landscaping and waste removal.
Financial Management: Maintaining financial records, creating budgets and managing property expenses.
Legal compliance: Ensuring that the property complies with the relevant laws and regulations.
Effective property management can help to maximize the value of a property and ensure its long term success. Property owners hire property managers to handle these responsibilties.