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Property Management  
 
 

Property Management is concerned with physical, administrative or financial maintenance and management of real property. Property management involves the processes, systems and manpower required to manage all acquired property, it includes management of personal property, equipment, tooling, control, accountability, responsibility, maintenance, utilization and disposition.

Property management may involve seeking out tenants to occupy the space, collect rents, budget improvements, maintaining the property, and upkeep of the grounds. Property Management is also the process of managing property that is available for lease by maintaining and handling all the day-to-day activities that are centered on the piece of real estate. Property Management includes Property Management System which is computerized systems that facilitate the management of properties, personal property, equipment, including maintenance, legalities and personnel all through a single piece of software.


Specialty areas of Property Management

1. Marketing

2. Financial

3. Tenant and Occupancy

4. Facility

5. Administration

6. Risk Management

 

Employment

Property Management graduates are employed in Homebuilders, Real estate developers, and land development companies. Property managers consist with businesses, community and public interest groups, and public utilities. Duties of property managers are marketing by advertising, contracting with a leasing agent, and setting rental rates that are appropriate for the current local economy. Property managers are involved in financial operations of the property. They make sure that tenants pay their rent, and they are responsible for paying mortgages, taxes, insurance premiums, payroll, and maintenance bills on time.

 
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