Property management is the daily oversight routine of residential, commercial, or industrial properties by a third-party contractor provided by HERMES REAL ESTATE . Generally, property managers experts take responsibility for day-to-day repairs and ongoing maintenance, security, and upkeep of properties. They usually work for the owners of investment properties such as apartment and condominium complexes, private home communities, shopping centers, and industrial parks.
Their main roles are to manage the routine tasks delegated to them by the owners and to preserve the value of the properties they manage while generating income.
KEY TAKEAWAYS
Property management is the oversight of real estate by a third party.
Property managers can manage various types of property: residential, commercial, industrial, and property for special purposes.
Property managers are generally responsible for the day-to-day operations of the real estate, from screening tenants to arranging for repairs and maintenance.
Owners pay property managers a fee or a percentage of the rent generated by the property.
Understanding Property Management
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