Property Management is the operation, control, and mistake which indicates a need to have cared for monitored and accountability have given for its useful life and condition. It is also termed as the management of personal property, equipment, tooling, and physical capital assets that are appropriate and it is also used to build, repair, and maintain the items output. It involves the processes, arrangement, and manpower required to manage the life cycle.
It is inspecting of residential, commercial and industrial real estate, including apartments, houses, and shopping centers. It generally involves the managing of property that is owned by another entity. The property manager acts on the authority of the owner to preserve the value of the property while generating income. It’s licensing requirements diverse among the states. Most states need property management companies to be licensed by the local real estate board.