Property Management

Property Management is the professional service of leasing, managing, marketing, and maintaining property for others. The primary goal is to protect the owner's investment and maximize return. Property Management Agreement is the employment contract between the property owner and the real estate broker. It establishes the agency relationship and defines the scope of work. The management agreement must clearly define the duties and authority the owner delegates to the broker, for example Financial Management, like collecting rent, and Authorization to pay bills (utilities, insurance, taxes) on behalf of the owner.