Property management is the administration of residential, industrial, or other commercial real estate. Property management is comparable to the management task within any other industry. An essential role of a property manager is that of liaison between the owner or the management firm acting at the property owner’s behest. Property management relations with lessees provides a face to the lessor, and also serves as a barrier for those landlords needing to distance themselves from their renters.
Property managers like Andrew Bradfield might manage building, renovation, repair and maintenance on a property. The jobs of property management cover taking rent, responding to and dealing with repair issues, advertising vacancies for property owners, and doing credit worthiness and criminal background checks on potential tenants. As payment for the service provided, property managers charge lessors a portion of the gross rent collected each month.
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