Here is the transcript of this short training video on explaining what property management is through 4 perspectives, with a PDF document of these slides available here at Issuu:
Here is a quick video explaining what is property management. This will help you understand better this often confusing role within property so you know what you’re trying to achieve and who’s involved with it.
The Cambridge Dictionary defines property management as “the management of land and buildings as a business, including keeping buildings in good condition and renting property”.
It’s basically the overall control and almost administration of lots of details that will enable you to reach your end property goals. So as an example, if you’re a landlord you’ll want your building properly maintained and a good paying tenant to provide a return, which are actually the two main aspects to property management.
So firstly, making sure that the property or piece of land is maintained correctly and services carried out, and secondly that any tenants and occupiers are correctly using the property and paying their rent.
It’s worth noting as well that in the UK this tenant aspect doesn’t automatically include first finding and vetting them which is often by a separate letting agent or additional service.
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