Property management is the maintenance, operation and administration of a property.
The experience, knowledge and good judgement of a property management company should maximize the value of the property over its economic life.
Property management involves the balance of keeping the operating cost down while providing a well maintained property for the tenants. The traditional way that you think of property managers as rent collectors, evicting of tenants and minor repairs is quite outdated, todays property managers are faced with a much more complex and multi- faceted industry. The constant reconciliation between conflicting objectives of owners and tenants make property management very complex. Property managers often times find them selves in the middle between giving the tenants a great place to live and between the owner’s budget or willingness to spend money on the property. Finding the right balance is crucial for the overall success of the property.
