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What is Property Management?

You might be thinking, what is property management? Well, property management is the operation, control, and oversight in the real estate industry. The management of the property indicates a desire to be cared for and there is an accountability to be had by the managers of the property. In total, property management is the management of personal property, equipment, tooling, and the handling of capital assets and involves the processes, systems, and manpower required to manage all of the property in question for a specified duration. This can include the acquisition, control, accountability, responsibility, maintenance, utilization and disposition.

There are many roles to this job, including the managing of the accounts and finances of the real estate properties and handling of relationships with the tenants, contractors, insurance agencies and who ever else requires your services. Litigation is also an aspect that requires attention in this role, but is often considered a separate function left for lawyers. It may be in the property manager's job description, however there may be an attorney working with or under the manager with special attention given to landlord and tenant law. This encompasses evictions, non-payment, harassment and public nuisances. With these details understood, it is imperative a property manager be up-to-date with current county, state and federal housing laws and practices. 

If someone is trusting a person to manage their real estate, that individual needs to be knowledgeable in a wide range of aspects. There are many layers to this role, but the experts at Ace Property Management will provide you with the care and attention your situation demands. For more nformation about our services, please call or email us today.