What is property management defined as?

Property management is defined as a professional service involved in the maintenance and management of real estate properties. This includes a range of responsibilities such as overseeing the daily operations of residential or commercial properties, maintaining the property, handling tenant relations, collecting rents, and ensuring compliance with regulations.

The role of property management is crucial for property owners who may not have the time, expertise, or resources to manage their properties effectively. By hiring a property management service, owners can benefit from professional knowledge in areas such as tenant screening, lease administration, and maintenance coordination, which ultimately helps enhance property value and profitability.

The other options do not encompass the full scope and responsibilities of property management. While options like recruiting services for tenants or home appraisals may be related to specific tasks within real estate, they do not capture the comprehensive nature of property management as a whole.