Property management is the practice by which a third party is given the responsibility of maintaining a residence’s status quo and appeasing its occupants. Property managers are, therefore, traditionally hired by rental property owners to oversee the daily operations of their real estate assets, and deal with any questions or concerns the tenants may have. In the event the property is vacant, it’s the property managers job to see to it the house is rented. As its name suggests, property management takes care of every aspect of a rental home, from marketing vacant space and signing leases to collecting rent and calling for repairs.
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