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He hires a property management company to take on the responsibility.

He does not have the time to manage, maintain, and keep track of all of his tenants. In many states, property managers must be licensed real estate brokers in order to list properties, collect rent, and perform other real estate-related tasks.īrad owns several apartment complexes and residential houses. Real property management may also entail the overseeing of the natural resources on a property, such as oil, gas, and timber. A real property management company acts on behalf of the property owner to ensure the property is taken care of, repaired, and leased out to bring a profit to the owner. Real property management pertains to overseeing rental property including apartments, houses, and commercial buildings. Real Property is any property that is attached to a piece of land, including the land itself, and any buildings standing on the property. Property management is especially beneficial to owners of more than one property, and to owners who live far away from their properties. Laws governing property management vary by state.

Property managers are commonly used to manage a variety of real properties, such as apartments, homes, and commercial buildings. The owner pays the property manager to handle day-to-day management tasks. Property management is a manager’s oversight of a property, on behalf of the property’s owner.