What exactly is Property Management?

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.