If an Owner has several (or one) properties, he or she may hire a property management company (or manager): the professional property manager serves to organize and implement comprehensive control of the properties managed.
The main duties of the Property Manager include (but are not limited to:
Conducting on-site inspections
Establishing rental rates
Supervising resident managers
Budgeting and completing reports and monthly statements
Establishing standard operating procedures
Maximizing income stream and value.
As this list of duties makes clear, the professional property manager has significant administrative and financial responsibilities, which require personality traits:
Ability to be firm
Analytical and detail-oriented
Assertive and ambitious
Ability to communicate with both Owner and
Tenants (including but not limited to)