What is the main objective of "Property Management"?

The primary objective of property management is to manage residential or commercial real estate on behalf of the owner, which includes overseeing the operations, maintenance, and management of the property while also ensuring that rent is collected efficiently. This involves dealing with tenants, handling leasing agreements, performing regular property maintenance, and ensuring that the property operates smoothly and profitably.

Effective property management aims not only to maintain the property but also to enhance the overall tenant experience and ensure compliance with relevant laws and regulations. By focusing on these operational aspects, property managers can help to stabilize income generation for the property owner and improve tenant retention.

While increasing the property's market value can be a secondary objective of property management through efficient management practices and maintenance, the core function remains the day-to-day management of the property on behalf of the owner. Other choices, such as selling properties or inspecting them solely for safety compliance, do not encompass the comprehensive duties of a property manager.