Overview
Property management is a vital aspect of real estate that involves overseeing properties on behalf of owners. It encompasses various responsibilities, including tenant relations, maintenance, financial management, and legal compliance. A successful property manager ensures that properties are well-m...
Key Terms
Example: The lease specifies the rent amount and duration of tenancy.
Example: The landlord initiated eviction proceedings due to non-payment of rent.
Example: Regular maintenance includes checking plumbing and electrical systems.
Example: Tenant screening involves background checks and credit history reviews.
Example: Many property managers use software to streamline rent collection.
Example: The tenant paid a security deposit equal to one month's rent.