Property management is the daily oversight of residential, commercial, or industrial real estate by a third-party contractor.

What is a professional property management?

Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. ... An owner of a single-family home, condominium, or multi-family building may engage the services of a professional property management company.

What is the purpose of a property management company?

What Does a Property Management Company Do? Management companies deal directly with prospects and tenants, saving you time and worry over marketing your rentals, collecting rent, handling maintenance and repair issues, responding to tenant complaints, and even pursuing evictions.