SERVICes

Property Management

As is the case with Association Management, Property Management is not clearly understood by the general public, nor is it understood by many of the companies billed as "property managers".

So, what is Property Management?

Property Management is the operation of commercial, industrial and/or residential real estate. Property Management involves the processes, systems and manpower required to manage the life cycle of all acquired property including Acquisition, Control, Accountability, Maintenance, Utilization, and disposition.

One important role is that of liaison between the landlord and/or the management firm operating on the landlord's behalf and tenant. Duties of property management include accepting rent, responding to and addressing maintenance issues, and providing a buffer for those landlords desiring to distance themselves from their tenant constituency.

There are many facets to this profession, including managing the accounts and finances of the real estate properties, and participating in or initiating litigation with tenants, contractors and insurance agencies. Litigation is at times considered a separate function, set aside for trained attorneys. Although a person will be responsible for this in his/her job description, there may be an attorney working under a property manager. Special attention is given to landlord/tenant law and most commonly evictions, non-payment, harassment, reduction of pre-arranged services, and public nuisance are legal subjects that gain the most amount of attention from property managers. Therefore, it is a necessity that a property manager be current with applicable municipal, county and state laws and practices.

All Real Estate and Brokerage Services are provided in-house through ANCLA's Real Estate Brokerage company. For more information, please visit www.anclarealty.com.