What is property management and the role of a property manager

Property management is a very diverse, challenging and interesting career. No two days are ever the same. What property managers do is mind boggling to some but to many of us it is ‘all in a day’s work’. Property management is really about People Management.

All property managers must remember that ‘nothing is your problem’ (so to speak) and in the great game that is property management, your key role is the following;

• Maximise your lessor’s income and minimise their loss
• Always act in the best interest (both ethically and legally) of your licensee and the lessor
• Always remember your duty of care to the tenant
• And remember; your main duty is the following
  • Educate your lessors and tenants to the best of your ability
  • Communicate with your lessor and tenants to the best of your ability;
  • Negotiate with your lessors and tenants to the best of your ability.
     

Property management is a task related profession meaning that the career is made of up of many tasks which require a system to be followed, following up, following through until there is an end or outcome within a reasonable time frame. All tasks should have an end otherwise there are matters outstanding, dissatisfied lessors or tenants plus extra stress placed on property managers.

The above information is an extract from page 1 of the PME (property management excellence) system which is a service provided by Real Estate Excellence Academy.

(c) www.realestateexcellence.com.au