Business Real Estate

Understanding Property Management

Property Management is the legal operation, supervision, care, and maintenance of real property and its accompanying physical property. This would include property owned by the government, private, and even residential and commercial real property. Pensacola Property Management Association is an excellent resource for this. The term ‘property’ in this context would typically include all real property that is not a single-family residence such as apartment buildings. The responsibility of property management encompasses a wide variety of functions including security, safety, cleanliness of facilities and tenants, maintenance of structure, aesthetics, landscaping, and any number of related activities.

In the case of residential properties, the property manager would be responsible for addressing issues concerning security, safety, noise, and fire. A residential property manager would also be responsible for addressing any legal obligations concerning tenants and keeping accurate records. They would be primarily responsible for dealing with the property’s maintenance and behalf any related claims by tenants. While property management agencies offer a wide variety of services, residential managers are responsible for a large number of responsibilities. They would also have to ensure the continued occupancy of each unit and preserve the building’s state of repair.

Community association property managers are independent licensed professionals that manage many different properties owned by a community association. Most community property managers are members of the National Apartment Association (NAA). The NAA is the largest property management organization in the United States. Property managers for community associations maintain an ongoing relationship with their members and the association as a whole. Property managers would typically have broad experience in operating rental homes and commercial properties.