During the 20th Century, the United States moved into an era of urbanization and rapid development. The real estate profession has responded to this revolutionary trend with increased specialization and a higher and more sophisticated level of service to its Clients.
One of the fastest-growing areas of specialization to arise as long-term real estate investments increased was that of Property Manager.
The profession of property management is both an evolving and a rapidly expanding field. The role of being just a rent collector is disappearing. Instead, property management has emerged as a highly technical and specialized managerial science. The property manager of today must possess communications skills and be a dynamic and effective decision maker. He or she must act as a market analyst, an advertising executive, a diplomat, and a maintenance engineer as he or she associates with property owners, prospective tenants and investors, tenants, employees, attorneys, accountants, and others involved in the real estate field.
The increasing costs, risks, and sophistication
of real estate development-leasing, financing, and government
regulations-have created a need for professional property management.
Landlord/tenant laws and court cases have thrust a considerable
amount of liability on the shoulders of managers and owners.