In real estate property management, the property manager or management company has four major areas of responsibility:
• Marketing and Financial
• Tenant and Occupancy
• Facility
• Administration & Risk Management
The property manager is the owner’s partner in maximizing the return on investment of the property through efficient performance of these four functional areas of responsibility. The property management company acts in the best interests of the owner to maintain the property, keep it occupied with tenants, collect rents, budget improvements and maintain records. Many real estate professionals have looked at property management and changed their minds when the scope of the management tasks and record-keeping are fully understood. It’s definitely a niche for the more detailed and responsive in the profession.
