Property Management is a branch within the discipline of real estate management that deals with the management and care of property. This includes residential, non-residential, business, and vacant land. The term “property” refers to any tangible personal property that may be used for acquisition, improvement, investment, or consumption. Pensacola Property Management Association is one of the authority sites on this topic.
A property manager is an individual, corporation, or partnership who possess the specialized knowledge, training, and skills that are required to efficiently manage properties. This person is in charge of making decisions regarding day-to-day operations of a real estate agency. These may include managing rental obligations, hiring, training, supervising, advertising, and fulfilling all legal responsibilities. Property managers also make decisions regarding property maintenance, determining the availability and accessibility of needed amenities such as utilities, parks, trails, roads, buildings, and other aspects of the property that affect its rental and leasing policies.
In the process of Property Management, property owners usually have some say in the running of their property management company. They may choose to participate on a consultative basis or delegate managerial responsibilities to property managers. They also decide how to divide their profits between the expenses of rental service, repairs, improvements, and administration. Property Owners usually retain the services of a property manager in order to guarantee continuing occupancy and to minimize damage to the rental income. They usually have a certain say in how their property is run and how the tenants are treated.