Property Management
Property management is the operation of commercial, industrial and/or residential real estate. This is much akin to the role of management in any business.
Property Management is also the management of personal property, equipment, tooling and physical capital assets that are acquired and used to build, repair and maintain end item deliverables. Property Management involves the processes, systems and manpower required to manage the life cycle of all acquired property as defined above including Acquisition, Control, Accountability, Maintenance, Utilization, and disposition.
Roles
One important role is that of liaison between the landlord and/or the management firm operating on the landlord's behalf and tenant. Duties of property management include accepting rent, responding to and addressing maintenance and rent issues.
There are many facets to this profession, including managing the accounts and finances of the real estate properties. Property management, like facility management, is increasingly facilitated by computer aided facility management (CAFM).