propertymanager

A property manager is an individual or company hired to oversee real estate on behalf of owners. They manage residential, commercial, and mixed-use properties, ranging from single-family homes to large apartment buildings and office parks.

Core duties include marketing and leasing vacant units, screening tenants, collecting rents, handling maintenance and repairs, coordinating contractors, and maintaining property records. They also prepare budgets, monitor operating expenses, produce financial reports for owners, and ensure compliance with applicable laws and regulations. They communicate with tenants, owners, and vendors, enforce lease terms and property policies.

Management arrangements vary: owners may hire in-house managers, engage independent property management firms, or contract services for specific tasks. Staffing may include on-site managers or regional/property management teams.

Common processes, supported by software, include rent collection systems, work-order tracking, financial accounting, and reporting. Leasing and marketing strategies aim to minimize vacancy and maximize cash flow.

Fees typically include a monthly management fee (a percentage of rent or flat fee), a leasing or placement fee, and sometimes maintenance markups or service charges. Licensing and required credentials vary by jurisdiction; professional designations such as CPM or CAM indicate formal training.

Regulatory considerations include fair housing law, privacy, security deposit limits, and eviction procedures. Property managers must maintain insurance, implement safety standards, and ensure compliance with local, state, and national rules.

In modern real estate practice, property management increasingly relies on technology, standardized processes, and professional standards to balance owner objectives with tenant needs.